The market witnessed volatile swings on May 15 as trade remained choppy. The Sensex as well as the Nifty 50 swung between gains and losses through the session. At close, the Sensex was down 117.58 points or 0.16 percent at 72,987.03, and the Nifty was down 17.30 points or 0.08 percent at 22,200.55.
2/11
Cipla | CMP: Rs 1,405 | Shares of Cipla soared 3.5 percent after three block deals in the counter took place on the exchanges. Around 2.04 crore shares, making up a 2.52 percent stake in the drugmaker changed hands in the three block deals. Cipla later confirmed that its promoters, the Hamied family sold 2.5 percent stake in the drugmaker.
3/11
Power Finance Corp | CMP: Rs 437 | Power Finance Corp shares surged 3.8 percent after the company reported an 18.4 percent year-on-year jump in its net profit to Rs 4,135 crore for the March quarter. The firm’s revenue grew 20 percent to Rs 12,243.7 crore. The asset quality also improved as net non-performing assets (NPAs) came down to 0.85 percent and gross NPA was down to 3.34 percent.
4/11
Life Insurance Corp | CMP: Rs 993 | Life Insurance Corporation of India shares soared 6 percent as it has been given three more years by markets regulator the Securities and Exchange Board of India to achieve 10 percent public shareholding, the largest life insurer in the country said on May 15. The revised timeline for LIC to achieve 10 percent public shareholding is on or before May 16, 2027, the company told the exchanges, almost two years after it went public.
Siemens | CMP: Rs 7,080| Shares of Siemens surged 6.4 percent on May 15 to hit a 52-week high of Rs 7,240 apiece on the National Stock Exchange (NSE) after the company's March quarter results beat street estimates, aided by strong margin performance and higher other income leading to a sharp beat on profit. According to analysts, Siemens is better placed to benefit from robust railway/metro capex, especially on large system order potential.
6/11
Aarti Industries | CMP: Rs 621 | Shares fell 4.8 percent after brokerage firm UBS Securities initiated coverage with a 'sell' call with a target price of Rs 615 per share. Analysts said that the chemicals sector is seeing one of the worst global destocking cycle in 30 years. Moreover, the 2 years of stocks underperformance reflects negative earnings momentum.
7/11
Colgate Palmolive | CMP: Rs 94 | Shares of the company tumbled over 5 percent intraday to Rs 2,666 per share on May 15 as investors booked profit after strong January-March quarter (Q4FY24) results. The stock recovered to end flat.
8/11
Andhra Paper | CMP: Rs 512 | Shares of the paper and pulp manufacturers dropped 2.4 percent to Rs 502.05 per share on the BSE on May 15. The fall came a day after the company announced its March quarter results for FY24 (Q4FY24), along with stock-split and dividend announcement.
Jyothy Labs | CMP: Rs 442 | The FMCG firm's shares tumbled 3.8 percent even as it reported a 32.5 percent jump in its consolidated net profit at Rs 78 crore for the fourth quarter ending March 31, 2024, as against Rs 59 crore in the year-ago period. Its revenue from operations stood at Rs 660 crore in the quarter under review, compared to Rs 617 crore in the year-ago period.
10/11
Archean Chemical | CMP: Rs 620 | Shares of the company slipped over 3.8 percent to Rs 596 per share after the company reported 56.4 percent YoY fall in net profit to Rs 59.64 crore in Q4FY24. Net sales also saw a 25.9 percent YoY decline to Rs 283.39 crore in Q4FY24 as compared with Q4FY23.
11/11
Thirumalai Chemicals | | CMP: Rs 255 | The stock tumbled 4.8 percent to Rs 254 per share on May 15 after the company's net loss amounted to Rs 20.47 crore in the quarter ended March 2024 as against net loss of Rs 12.84 crore during the previous quarter ended March 2023. However, sales rose 22.18 percent YoY to Rs 526.52 crore in Q4FY24.
