Top 3 BSE Gainers Surge in Pre-Opening Session as Sensex Dips

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AuthorAnanya Iyer|Published at:
Top 3 BSE Gainers Surge in Pre-Opening Session as Sensex Dips
Overview

Three stocks outpaced broader market declines in the pre-opening session. Maharashtra Scooters jumped 4.43%, Sanghvi Movers added 2.27% on a $4.3 million work order, and GMDC rose 2.09% after securing rare earths technology from BARC. The S&P BSE Sensex, however, opened lower.

Market Opens Lower, Select Stocks Shine

The S&P BSE Sensex commenced Friday's trading session in negative territory, opening down 45 points, a 0.05 per cent dip. Sectoral performance was mixed, with metals posting a modest 0.15 per cent gain while power and auto sectors registered slight declines. Amidst this cautious start, three specific companies garnered significant buyer attention during the pre-opening session.

Maharashtra Scooters Leads Charge

Maharashtra Scooters Limited emerged as a top performer, surging 4.43 per cent to trade at Rs 14,276.20. The company has not issued any recent significant corporate announcements, suggesting the sharp uptick in its share price was primarily driven by market forces and investor demand.

Sanghvi Movers Secures Key Contract

Sanghvi Movers Limited saw its shares climb 2.27 per cent to Rs 316.05. The company announced that its wholly-owned subsidiary, Sanghvi Movers Botswana Proprietary Limited, has been awarded a substantial USD 4.3 million work order. This contract with Jindal Energy Botswana (Pty) Limited involves supplying cranes, materials, and manpower for a 4x175 MW project slated to commence in Q4 FY 2025-26 and conclude by Q4 FY 2027-28. The order is from an international entity and is not considered a related-party transaction.

GMDC Advances Rare Earths Initiative

Gujarat Mineral Development Corporation Limited (GMDC) advanced 2.09 per cent, reaching Rs 550.00. A government of Gujarat enterprise, GMDC is making strides in its rare earths initiative by acquiring indigenous processing technology from the Bhabha Atomic Research Centre (BARC). This technology will be used for its Ambadungar Rare Earth Project to produce Mixed Rare Earth Concentrate from local ore. The deployment will begin at a pilot scale with BARC's support, focusing on process validation and recovery optimisation, aligning with the Atmanirbhar Bharat vision.

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