Indian equity markets plunged on May 17, dragged by broad slide across sectors with the Sensex down 371.83 points or 0.60 percent at 61,560.64, and the Nifty down 104.70 points or 0.57 percent at 18,181.80. About 1651 shares advanced, 1734 shares declined, and 132 shares unchanged. Take a look at the gainers and losers for the day:
Amber Enterprise | CMP Rs 2153.15 | Amber Enterprises shares surged over 14 percent after the contract manufacturer of air conditioners recorded an 82 percent year-on-year growth in consolidated profit at Rs 104 crore for the quarter ended March FY23.
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Suzlon Energy | CMP Rs 8.80 |Suzlon Energy share price zoomed 7 percent, as the company secured a new order from Vibrant Energy for 33 wind turbine generators (WTGs), featuring its new 3 MW series with a Hybrid Lattice Tubular (HLT) tower for a 99 MW wind power project which is expected to be commissioned by FY25.
Redington | CMP Rs 173.45 |Shares of Redington closed over 1 percent down as investors shunned the stock, a day after the company reported a decline in its fourth quarter net profit. Net profit for the January-March period declined 10.9 percent YOY to Rs 310.1 crore from Rs 348 crore in the same quarter last year. The net profit was largely dragged down by weakness in the Rest of the World market.
LIC Housing Finance | CMP Rs 370.75 |Shares of LIC Housing Finance tanked 6 percent a day after the company reported muted Q4 results. The housing finance firm reported a jump of 5.5 percent in its consolidated net profit, which came in at Rs 1,180.3 crore, as against Rs 1,118.6 crore in the corresponding period last year.
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Vodafone Idea | CMP Rs 7.05 |Vodafone Idea Ltd (VIL) shares declined over 4 percent after British multinational parent Vodafone Plc said its carrying value of investment in the Indian listed firm is 'zero'. Hence, the group is recording no further share of losses in respect of VIL.
CreditAccess Grameen |CMP Rs 1171.50|CreditAccess Grameen Ltd rallied 8 percent after robust fourth quarter results, where the company reported a 86.4 percent jump in net profit at Rs 296.6 crore for the fourth quarter ended March 31, 2023 from Rs 159 crore posted a year back.
Jindal Steel and Power | CMP Rs 532.10 | Shares of Jindal Steel & Power fell more than 5 percent after the steel maker posted 79 percent slump in its consolidated net profit to Rs 465.66 crore for Q4 due to higher expenses. Revenue was down 4.5 percent year-on-year (YoY) to Rs 13,691.93 crore. Morgan Stanley has an ‘underweight’ rating on the stock with a target price of Rs 460. Meanwhile, Macquarie has given a ‘neutral’ rating with a target price of Rs 557.
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Bank of Baroda | CMP Rs 186 | Shares of Bank of Baroda extended gains to the second session in early trade and closed marginally lower, after the public sector lender's stellar quarterly earnings. The bank recorded its highest-ever quarterly net profit of Rs 4,775 crore for January-March, reflecting a 168 percent year-on-year rise. Annual net profit of Rs 14,110 crore was also at a record high, up 94 percent from FY22's Rs 7,272 crore.
Triveni Turbine | CMP Rs 395 |Shares of Triveni Turbine gained nearly 3 percent as the company clocked the highest ever annual revenue, EBITDA and order booking along with a record closing order book providing visibility for FY24.The company has logged its revenue for FY23 at Rs 12.48 billion, up 46 percent YoY and also achieved its highest ever EBITDA for the year at Rs 2.76 billion, up 44 percent YoY.
Bharti Airtel | CMP Rs 793.25 | Shares of telecom giant Bharti Airtel closed marginally up after the company posted robust Q4 results. Bharti Airtel reported a 50 percent jump in consolidated net profit at Rs 3,006 crore for the quarter ended March 2023 from Rs 2,008 crore a year back, sequentially, growing at 89 percent.
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