Gainers & Losers: 10 stocks that moved the most on April 28
Indian equity benchmarks ended higher on April 28, with the Sensex gaining 463.06 points or 0.76 percent to 61,112.44. The Nifty ended 149.95 points, or 0.84 percent, higher at 18,065. As many as 2,246 shares advanced, 1,249 declined and 134 remained unchanged.
Indian equity benchmarks ended higher on April 28, with the Sensex gaining 463.06 points or 0.76 percent to 61,112.44. The Nifty ended 149.95 points, or 0.84 percent, higher at 18,065. As many as 2,246 shares advanced, 1,249 declined, and 134 remained unchanged.
2/11
Adani Enterprises | CMP: Rs 1,922 | Shares of Adani Enterprises Ltd gained 3.85 percent. According to a Bloomberg report, Adani Cement Industries has pre-paid $200 million in the past week helping pare a $1 billion mezzanine loan taken from global banks to fund the purchase of the Indian units of Holcim Ltd. The prepayment will help the billionaire Gautam Adani's firm seek an extension of the debt taken to fund the acquisition by three years, the Bloomberg report said. Global Banks had lent Adani $4.5 billion to finance the acquisition of Holcim Ltd cement assets with mezzanine loans due for maturity in September 2024.
3/11
Wipro | CMP: Rs 384.7 | Shares of Wipro Ltd gained nearly 2.89 percent after demonstrating sustained momentum in deal wins, particularly in large transformational deals. In the March quarter, the company secured new deals worth $4.1 billion, following the $4.3 billion deals won in the previous quarter. These figures highlight the company's strong business momentum despite macroeconomic uncertainties in western markets, and provide long-term visibility for the company's future growth. The company also announced its plan to buy back shares worth Rs 12,000 crore. The buyback will involve purchasing up to 269.66 million shares on a proportionate basis through a tender offer at Rs 445 per share, which represents a premium of nearly 19 percent from the current closing price.
4/11
Nestle India | CMP: Rs 21,750 | The stock ended at a fresh record high. The stock closed 2.77 percent higher and gained for a third straight session. Nestle India surprised analysts with its first quarter results for CY2023 with its net profit at Rs 736 crore beating estimates of Rs 674 crore. Revenue from operations jumped 21.3 percent on-year to Rs 4,830 crore in the March quarter. In fact, the revenue growth was the highest in the last 10 years. The company follows a January to December financial year. According to Nuvama Institutional Equities, Nestle India has marked a "fabulous start to the year". Motilal Oswal Financial Services calls it a "big beat in a challenging environment".
L&T | CMP: Rs 2,360 | Larsen & Toubro Ltd's shares surged to an all-time high, with the stock closing 2.24 percent higher. The company is scheduled to release its March quarter earnings on May 10, and analysts anticipate strong order inflows and efficient execution during the quarter. In its latest report brokerage firm Jefferies predicts that in the fiscal year 2024, L&T will receive backing from both the Middle East and India's private sector capital expenditure, following the announcement of Rs 25,800 crore worth of orders for the quarter ending in March. L&T is expected to meet or even surpass the upper limit of its year-on-year order flow guidance of 15% for FY23. As execution intensifies and commodity prices subside from their peak, Jefferies anticipates that margins in FY24 could surpass expectations.
6/11
Reliance Industries | CMP: Rs 2,419.9 | Shares of RIL gained for five out of six sessions and closed 1.8 percent higher. The National Stock Exchange has decided that a demerged company will be retained in a Nifty index, reversing the earlier practice of excluding it. "This is a big positive for Reliance Industries, which will be demerging Jio Financial Services soon. Had the methodology not changed, it could have led to $3 billion of outflow from the stock," said Abhilash Pagaria of Nuvama Alternative & Quantitative Research.
7/11
ITC | CMP: Rs 426.20 | Shares closed at a fresh record high with gaining for eight consecutive sessions. The stock ended over 2.24 percent higher. According to Motilal Oswal Securities, ITC’s earnings performance in the last couple of years and in FY24 shines like a beacon. The brokerage house expects ITC has demonstrated a healthy 23% EPS growth in FY23E and we expect a likely EPS CAGR of 15% over the next two years as well. ITC’s earnings outlook is better than other large cap staples players both on a two-year CAGR ending FY23E as well as FY24 earnings growth expectations.
8/11
Glenmark Life Sciences | CMP: Rs 503 | Shares of Glenmark Life Sciences ended 5.2 percent higher after the company posted a robust set of earnings for the March quarter, reflecting growth across all parameters. The company recorded revenue growth of 20.9 percent on year to Rs 621.3 crore backed by strong traction in the active pharmaceutical ingredients (API) and Contract Development and Manufacturing Organization (CDMO) segments. Steady growth momentum across regulated as well as emerging markets supported growth in the API business, while a pick-up in demand from a project, which was affected by inventory rationalisation, aided the rise in CDMO revenues.
Mphasis | CMP: Rs 1,818.95 | The stock gained around 1.5 percent despite reporting a weak performance for the fourth quarter and missing the Street expectations. The company’s net profit declined 1.7 percent on-year but shot off 3.4 percent sequentially to Rs 405 crore for the quarter ended March 2023. The company's revenue declined 4.14 percent to Rs 3,361 crore from Rs 3,506 crore reported in the December 2022 quarter. EBIT declined 3.05 percent to Rs 575 crore from Rs 593 crore in Q3FY22. EBIT margin came in at 17.11 percent as against 16.92 reported in the December 2022 quarter.
10/11
Coforge | CMP: Rs 4,170 | The stock gained 3 percent. Though the company reported a 48 percent YoY decline in consolidated net profit at Rs 117 crore, its revenue from operations jumped 25 percent YoY Rs 2,170 crore Foreign brokerage firm Jefferies has upgraded the stock to ‘Hold’ at a target price (TP) of Rs 3,760 and said the Q4 Revenues were in-line with their expectations however profits missed estimates. Steady deal wins were in-line with FY24 growth guidance, it said adding that investments in growth will limit margin expansion. The brokerage has raised its FY24 estimates by 4 percent but lowered FY25 estimates by 2 percent.
11/11
PI Industries | CMP: Rs 3,377| PI Industries Ltd saw a 10.4% surge in its share price following its announcement of two acquisitions in the pharma active pharmaceuticals ingredients (APIs) and contract development and manufacturing organization (CDMO) sectors. ICICI Securities suggests that these acquisitions may help the company reduce its reliance on Agrochem CDMO business. Additionally, the brokerage firm noted that the deployment of QIP funds, which have been sitting unused on the company's balance sheet for some time, will improve return ratios for PI Industries.
![Nestle India ended at a fresh record high. The stock closed 2.77 percent higher and gained for a third straight session. Nestle India surprised analysts with its first quarter results for CY2023 with its net profit at Rs 736 crore beating estimates of Rs 674 crore. Revenue from operations jumped 21.3 percent on-year to Rs 4,830 crore in the March quarter. In fact, the revenue growth was the highest in the last 10 years. The company follows a January to December financial year. According to Nuvama Institutional Equities, Nestle India has marked a "fabulous start to the year". Motilal Oswal Financial Services calls it a "big beat in a challenging environment".](https://images.moneycontrol.com/static-mcnews/2022/12/Nestle.jpg "Nestle India ended at a fresh record high. The stock closed 2.77 percent higher and gained for a third straight session. Nestle India surprised analysts with its first quarter results for CY2023 with its net profit at Rs 736 crore beating estimates of Rs 674 crore. Revenue from operations jumped 21.3 percent on-year to Rs 4,830 crore in the March quarter. In fact, the revenue growth was the highest in the last 10 years. The company follows a January to December financial year. According to Nuvama Institutional Equities, Nestle India has marked a "fabulous start to the year". Motilal Oswal Financial Services calls it a "big beat in a challenging environment".")
![Shares of RIL gained for five out of six sessions and closed 1.8 percent higher. The National Stock Exchange has decided that a demerged company will be retained in a Nifty index, reversing the earlier practice of excluding it. "This is a big positive for Reliance Industries, which will be demerging Jio Financial Services soon. Had the methodology not changed, it could have led to $3 billion of outflow from the stock," said Abhilash Pagaria of Nuvama Alternative & Quantitative Research.](https://images.moneycontrol.com/static-mcnews/2021/10/reliance-industries.jpg "Shares of RIL gained for five out of six sessions and closed 1.8 percent higher. The National Stock Exchange has decided that a demerged company will be retained in a Nifty index, reversing the earlier practice of excluding it. "This is a big positive for Reliance Industries, which will be demerging Jio Financial Services soon. Had the methodology not changed, it could have led to $3 billion of outflow from the stock," said Abhilash Pagaria of Nuvama Alternative & Quantitative Research.")
