Gainers & Losers: 10 stocks that moved the most on May 27
At the close, the Sensex was down 19.89 points or 0.03 percent at 75,390.50, and the Nifty was down 24.60 points or 0.11 percent at 22,932.50. About 1559 shares advanced, 1905 shares declined, and 119 shares unchanged.
India’s benchmark stock indices BSE Sensex and NSE Nifty 50 gave up gains after jumping to hit new all-time highs on May 27. The Nifty 50 peaked at an intraday high of 23,110.8, while the Sensex surged to 76,009.
2/11
Cochin Shipyard | CMP: Rs 1,973 | Shares of PSU jumped nearly 3.2 percent to hit a new high of Rs 2,100 on the National Stock Exchange (NSE) on the back of robust March quarter (Q4FY24) earnings. The state-run defence company reported a near seven-fold year-on-year jump in net profit at Rs 258.90 crore while its revenue increased by 114.3 percent YoY to Rs 1,286 crore, led by strong execution in both segments.
3/11
Astra Microwave | CMP: Rs 878 | Astra Microwave Products share price soared more 9 percent to hit a fresh record high of Rs 914 apiece on May 27 after the defence and aerospace company reported over four-fold jump in net profit during the March quarter of FY24 (Q4FY24).
4/11
Karnataka Bank | CMP: Rs 217 | Shares of Karnataka Bank slipped over 2 percent to Rs 213 per share on May 27 after the lender reported weak January-March quarter (Q4FY24) performance. The lender's net profit fell by 22.5 percent year-on-year (YoY) to Rs 272 crore in Q4FY24, while net interest income declined by 3 percent to Rs 834 crore.
Ashok Leyland | CMP: Rs 227 | Shares of Ashok Leyland rallied 8 percent to hit an all-time high of Rs 222.85 per share on May 27 after the Street cheered its robust January-March quarter (Q4FY24) performance. Brokerages reiterated their positive stance on the company amid strong guidance for FY25, attractive valuations, upbeat CV demand outlook.
6/11
Paras Defence | CMP: Rs 898 | Shares of the company witnessed an uptick of 5 percent on May 27 after the company's consolidated net profit jumped 63.82 percent to Rs 96 crore in Q4FY24 as compared with Rs 58.6 crore in the previous quarter. Its revenue from operations increased by 24.17 percent QoQ to Rs 79.69 crore in the under review. The stock hit a 52-week high of Rs 928 on the National Stock Exchange (NSE).
7/11
Exide Industries | CMP: Rs 496 | Shares surged over 4 percent after JPMorgan raised the price target to Rs 520 as it sees further upside in the counter. With an 'overweight' call on Exide, the new target price implies an upside potential of 10 percent from the current market levels. The previous target price was Rs 480.
8/11
Bosch India | CMP Rs 31,556 | Shares surged over 2 percent after the company's impressive fourth-quarter results were cheered by the Street. The company reported a 42 percent year-on-year increase in net profit, reaching Rs 564.4 crore, driven by increased demand for passenger cars and consumer goods products. The company's net profit was Rs 398.1 crore in the year-ago period.
West Coast Paper | CMP: Rs 622 | Shares slumped a percent after the company reported dismal earnings for Q4 FY24. Net profit for the quarter came at Rs 199.8 crore, sharply down 57 percent on year from Rs 278 crore in the year ago period. Revenue also slipped 21 percent to Rs 1,071 crore. EBITDA margin also contracted sharply to 15.9 percent as compared to 36.3 percent in the year-ago period.
10/11
Torrent Pharma | CMP: Rs 2,644 | Shares closed 1 percent higher after hitting a record high of Rs 2,795 apiece intraday, as investors cheered for the company's strong Q4FY24 results and a robust growth outlook for the coming time. In addition, bullish growth prospects for the company, as painted by a slew of brokerages, further bolstered sentiment.
11/11
Glenmark Pharma | CMP: Rs 1,125 | Shares soared 8 percent as the management's upbeat growth guidance offset the drugmaker's weak quarterly performance. After reporting weak earnings for the January-March quarter of FY24, the company's management stated that it is targeting double-digit profit growth for FY25. In addition, the management also guided that its EBITDA margin will expand further to 19 percent in FY25.
