Navin Fluorine, Cohance Lifesciences, Neuland Labs shares surge amid spike in trading activity

The Indian equity benchmarks were trading higher in noon deals on Thursday, August 6, powered by gains in index heavyweights like Reliance Industries, ICICI Bank, Eternal, Bharat Electronics, Titan, State Bank of India and Larsen & Toubro. The SENSEX rose as much as 323 points and NIFTY50 index touched an intraday high of 24,677.

As of 12:32 pm, the SENSEX was up 237 points at 78,817 and NIFTY50 index advanced 17 points to 24,641.

JK Lakshmi Cement

Shares of the country's leading cement maker rose as much as 8.87% to hit an intraday high of ₹622.05 after it reported a 27.9% decline in its consolidated net profit to ₹108.07 crore for the June quarter of FY27.

The company had posted a net profit of ₹149.88 crore in the April-June period a year ago, according to a regulatory filing by JK Lakshmi Cement Ltd (JKLC), a flagship company of JK Organisation.

Its revenue from operations grew 9.4% to ₹1,904.78 crore in the June quarter of FY27. It was ₹1,740.93 crore in the year-ago period.

Trading volume in the stock jumped by 39 times to 30.58 lakh shares on the National Stock Exchange (NSE) compared with an average volume of 77,381 shares.

Cohance Lifesciences

Shares of the drug maker advanced as much as 8.88% to hit an intraday high of ₹467 after the company informed exchanges that United States Food and Drug Administration (USFDA) conducted an inspection of the Company's manufacturing facility located at Pashamylaram, Hyderabad.

At the conclusion of the inspection, the Company received a Form FDA 483 containing five observations. None of the observations relate to data integrity issues, Cohance said.

Trading activity in the stock jumped 16.1 times to 43.57 lakh shares compared with an average of 2.71 lakh shares.

Neuland Laboratories

Shares of the global provider of API Contract Development and Manufacturing Organization (CDMO) services provider surged as much as 11.18% to hit a record high of ₹22,188 on the National Stock Exchange (NSE) after it reported strong June quarter earnings.

Neuland Laboratories on Wednesday said that its net profit in April-June period jumped over 10-fold or 962% to ₹148 crore from ₹14 crore in the same period last year.

Its revenue from operations more than doubled to ₹642 crore compared with ₹293 crore a year earlier.

Neuland Laboratories reported strong operational performance as its earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped 540% to ₹224 crore from ₹35 crore.

Trading volume jumped by 14.5 times to 7.3 lakh shares compared with an average volume of 50,277 shares.

Navin Fluorine

Shares of the specialty chemicals maker advanced as much as 12% to hit an intraday high of ₹8,521 after its sales rose 11% quarter-on-quarter to ₹1,945 crore and operating EBITDA advanced 11% to ₹257 crore.

Trading volume jumped by 13.9 times to 21.86 lakh shares compared with an average volume of 1.57 lakh shares.

As many as 1.66 lakh shares changed hands on the BSE compared with an average of 17,000 shares traded daily in the past two weeks.

Tata Technologies

Shares of the IT enabled services provider jumped as much as 6.75% to hit an intraday high of ₹805 amid spike in trading activity.

Trading volume jumped by 6.4 times to 60.34 lakh shares compared with an average volume of 9.25 lakh shares.

As many as 4.9 lakh shares changed hands on the BSE compared with an average of 80,000 shares traded daily in the past two weeks.