Top Stock Movers on December 4: Gainers and Losers Highlight Key Trends

Sandip Raj Gupta

04/Dec/2024

What's Covered:

Financial stocks rose on December 4, buoyed by CRR cut expectations from the RBI.
Key gainers include Steelman Telecom, PB Fintech, and Wonderla Holidays.
Bajaj Auto and EPACK Durable were among the notable losers due to pricing and operational challenges.

On December 4, benchmark indices Nifty and Sensex managed to close in the green for the fourth consecutive session, despite a choppy trading day. Gains in financial stocks offset losses in oil & gas, telecom, and auto stocks. At the end of the session, the Sensex rose 110.6 points to close at 80,956, while the Nifty added 10.3 points, ending at 24,467.5.

Key Gainers

Steelman Telecom
Steelman Telecom shares hit a 20% upper circuit after securing a work order worth ₹147 crore from Reliance Projects & Property Management Services Ltd (Jio). The new contract boosted investor confidence in the company’s growth potential.
PB Fintech
Shares rose 3.6%, touching a 52-week high of ₹2,018.85 after the announcement of a wholly owned subsidiary under the proposed names "PB Healthcare" or "PB Healthcare Services." This move is expected to diversify and strengthen its business portfolio.
Wonderla Holidays
The company’s shares surged 7% following the launch of its Qualified Institutions Placement (QIP) issue, priced at ₹829.7 per share, signaling growth ambitions.
RattanIndia Enterprises
Shares gained over 5%, driven by robust November sales of its subsidiary Revolt Motors, which reported a 197% YoY jump in vehicle sales.
Oberoi Realty
Shares hit a record high, rising over 5% after international brokerage Nomura initiated a "buy" rating, citing over 21% upside potential.
Reliance Power
The stock hit a 5% upper circuit after the Solar Energy Corporation of India (SECI) withdrew a debarment notice, signaling a positive development for the company.
Zomato
Shares rose over 2% as brokerage CLSA maintained its outperform rating and increased its target price to ₹370, supported by strong growth levers.

Key Losers

Bajaj Auto
Shares fell nearly 2% after reports of price cuts for its Freedom 125 CNG motorcycle and selected Pulsar variants. The price adjustments reflect demand concerns in a competitive market.
EPACK Durable
Shares declined over 2% following a customs search at the company’s manufacturing facility in Rajasthan, raising operational concerns among investors.

Sectoral Insights

The financial sector gained momentum on expectations of a cash reserve ratio (CRR) cut by the Reserve Bank of India (RBI), boosting investor sentiment. However, auto, oil & gas, and telecom stocks struggled, wiping out early morning gains.

Market Sentiment

The market sentiment remains cautiously optimistic as investors await policy announcements from the RBI. Stocks with positive news catalysts outperformed, while those facing operational or competitive challenges lagged behind.

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