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Slideshow | Gainers & Losers: 10 stocks that moved the most on May 8

Buying was seen in the pharma, FMCG, energy, IT and infra space, while selling was seen in the auto, bank and metal sectors.

May 08, 2020 / 16:23 IST
1/11
At close on May 8, the Sensex was up 199.32 points or 0.63% at 31642.70, and the Nifty was up 52.45 points or 0.57% at 9251.50. Buying was seen in the pharma, FMCG, energy, IT and infra space, while selling was seen in the auto, bank and metal sectors. Below are the 10 stocks that moved the most today:
2/11
Reliance Industries | Share price gained over 3 percent after a US-based private equity fund said it is going to pick a stake in the company's digital unit. Vista Equity Partners will pick up a 2.32 percent stake in the company's Jio Platforms for Rs 11,367 crore at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Vista’s investment is at 12.5 percent premium over the Facebook deal. Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Source: Reuters
3/11
Hindustan Unilever | Share price of FMCG major jumped over 4 percent after Societe Generale bought 1.29 crore shares of the company at Rs 1,902 per share. Credit Suisse has maintained its outperform call on the stock with target at Rs 2,400 per share. It is of the view that GSK's 5.7 percent stake sale removes the key overhang adding that premium to Britannia Industries and Dabur India has narrowed to 5-15 percent after the recent correction, according to a report by CNBC-TV18.
Biocon
4/11
Biocon | Share price was up over 2 percent after the company received EIR from the USFDA. The company has received the Establishment Inspection Report (EIR) from the US Food and Drug Administration (FDA) for the pre-approval and GMP inspection of its Small Molecules API Manufacturing facility at Biocon Park SEZ, Bommansandra, Bengaluru.
Dr Reddy
5/11
Dr Reddy's Labs | Share prices gained almost 4 percent after the company said that it had received EIR from US FDA for Srikakulam (CTO VI) unit, indicating closure of the audit and the inspection classification of this facility is determined as "Voluntary Action Indicated" (VAI), the company said in a filing to the exchanges.
6/11
RBL Bank | Share price fell over 7 percent after the private lender reported a sharp drop in Q4 profit and muted loan and deposit growth. Most analysts remain bearish on the stock on account of the coronavirus outbreak hitting business. The private sector lender reported a 53.7 percent year-on-year (YoY) decline in standalone profit at Rs 114.36 crore due to 207.1 percent jump in provisions.
7/11
Cyient | Share price tanked 10 percent on weak revenue growth guidance for Q1FY21. HDFC Securities downgraded its rating to reduce. HDFC Securities downgraded its rating on Cyient to reduce from add post a weak performance and bleak growth outlook. It has reduced its EPS estimates by 16.4/13.8 percent for FY21/22. Its price target on the stock stood Rs 240, based on 9x FY22E EPS, which is at around 30 percent discount to 5-year average 1-year-forward P/E multiple.
Adani
8/11
Adani Gas | Share price was up 3 percent after the company's consolidated net profit rose 5.1% at Rs 121.4 crore from Rs 115.5 crore in the previous quarter. Its consolidated revenue from operations dropped 5.5% at Rs 490.3 crore from Rs 519 crore in Q3FY20.
SBI_Card_SBICard
9/11
SBI Card | Share price fell over 3 percent after the company reported 66.5 percent fall in its Q4 net profit to Rs 83.5 crore from Rs 249 crore in the year-ago period, reported CNBC-TV18. The company's revenue for the quarter though was up 21 percent at Rs 2,510 crore from Rs 2,076 crore. The gross non-performing assets (GNPA) was at 2.01 percent versus 2.44 percent and the provision coverage ratio stood at 67.20 percent versus 66.48 percent, YoY.
10/11
Apollo Pipes | Share price jumped 5 percent after promoter Sameer Gupta acquired further 1,44,476 shares in the company at Rs 323.73 per share.
11/11
Endurance Technologies | Share price gained over a percent after manufacturing operations at Chakan plant resumed while Chennai plant will resume from May 11.
Moneycontrol News
first published: May 8, 2020 04:23 pm

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