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Last Updated : May 12, 2020 07:06 PM IST | Source: Moneycontrol.com

Slideshow | Gainers & Losers: 10 stocks that moved the most on May 12

Buying was witnessed in auto, IT, metal and FMCG sectors, while bank, energy, infra and pharma ended lower. BSE Smallcap and Midcap indices finished 0.5-0.7 percent lower.

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On May 12, the market was volatile during the day but largely traded lower. But short-covering in the last hour helped indices recoup some losses. At close, Sensex was down 190.10 points or 0.60% at 31371.12, and the Nifty ended 42.65 points lower or 0.46% at 9196.55. About 889 shares have advanced, 1351 shares declined, and 172 shares are unchanged.

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IRCTC | Indian Railway Catering & Tourism Corp (IRCTC) share price ended at 5 percent upper circuit after online bookings for passenger train services opened. Bookings for passenger train services opened on May 11 on the IRCTC website, while the train services started in a graded manner from May 12.

Asian Paints | Share price was down almost 3 percent on growth worries. Goldman Sachs also downgraded the stock to sell with a target at Rs 1,111 per share. According to the firm, the stock is pricing in 23 percent average volume growth (3.3x of real GDP) in FY22-24E, leaving limited upside from current levels. there are significant risks to sales growth as it expects consumers to down trade and extend the re-painting cycle given the macroeconomic slowdown.
3/11

Asian Paints | Share price was down almost 3 percent on growth worries. Goldman Sachs also downgraded the stock to sell with a target at Rs 1,111 per share. According to the firm, the stock is pricing in 23 percent average volume growth (3.3x of real GDP) in FY22-24E, leaving limited upside from current levels. there are significant risks to sales growth as it expects consumers to down trade and extend the re-painting cycle given the macroeconomic slowdown.

Bandhan Bank
4/11

Bandhan Bank | Share price was down over a percent with the bank reporting a 20 percent decline in Q4 profit to Rs 517 crore on addition COVID-19 provisions. Net interest income for the quarter grew sharply by 33.6 percent year-on-year to Rs 1,680 crore, with advances rising by 60.46 percent (to Rs 71,846 crore).

Piramal Enterprises | Share price shed over 3 percent after the company reported a net loss of Rs 1,702.59 crore in the quarter ended March 31, mainly on the back of additional provisioning in lieu of the challenges posed by the COVID-19 pandemic.
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Piramal Enterprises | Share price shed over 3 percent after the company reported a net loss of Rs 1,702.59 crore in the quarter ended March 31, mainly on the back of additional provisioning in lieu of the challenges posed by the COVID-19 pandemic.

indusind bank
6/11

IndusInd Bank | Share price was up 3 percent after reports said Japanese insurance major Nippon Life is in discussion with the bank for strategic investment in the private sector lender. The move will help Nippon Life, Japan's largest life insurer in revenue terms, gain a bancassurance partner for its insurance product distribution, and corporate treasury money for asset management in India, sources told The Economic Times.

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Sterlite Tech | Share price gained almost 2 percent after the company approved a final dividend of 175 percent ( Rs 3.5 per equity share of Rs 2 each of the Company). The final dividend, if declared at the annual general meeting will be paid within the statutory time limits.

Reliance Industries | Share price was down over 6 percent on profit booking. The stock will turn ex-rights on May 13. The company has fixed May 14 as the record date for the Rs 53,100 crore 1:15 rights issue, which is priced at Rs 1,257 per share. Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
8/11

Reliance Industries | Share price was down over 6 percent on profit booking. The stock will turn ex-rights on May 13. The company has fixed May 14 as the record date for the Rs 53,100 crore 1:15 rights issue, which is priced at Rs 1,257 per share. Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

Ind-Swift Labs | Share price jumped almost 5 percent after the company received Establishment Inspection Report from USFDA for the facility in Derabassi, Punjab.
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Ind-Swift Labs | Share price jumped almost 5 percent after the company received Establishment Inspection Report from USFDA for the facility in Derabassi, Punjab.

Nestle India | The scrip ended in the red ahead of its Q1 numbers. The company reported earnings post-market hours. It posted a Q1 profit of Rs 525.4 crore with revenue from operations at Rs 3,325.3 crore. The company had reported a profit of Rs 463.28 crore in the corresponding period last year.
10/11

Nestle India | The scrip ended in the red ahead of its Q1 numbers. The company reported earnings post-market hours. It posted a Q1 profit of Rs 525.4 crore with revenue from operations at Rs 3,325.3 crore. The company had reported a profit of Rs 463.28 crore in the corresponding period last year.

Abbott India | Share price was up over a percent after the company said that USFDA has issued Emergency Use Authorization for the company’s COVID-19 lab-based serology blood test on the Alinity system.
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Abbott India | Share price was up over a percent after the company said that USFDA has issued Emergency Use Authorization for the company’s COVID-19 lab-based serology blood test on the Alinity system.

First Published on May 12, 2020 04:31 pm
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