Gainers & Losers: 10 stocks that moved the most on October 17
At close, the Sensex was down 494 points or 0.6 percent at 81,006 and the Nifty was down 221 points or 0.9 percent at 24,749. About 1,199 shares advanced, 2,580 shares declined, and 101 shares remained unchanged.
The Sensex and Nifty closed in the red for the third consecutive session on October 17, weighed down by relentless selling from foreign investors, a lacklustre earnings season, and geopolitical tensions. Today's trading was particularly brutal for the banking and auto sectors, with the Nifty Auto index suffering a dramatic plunge of over 3 percent following Bajaj Auto reducing its festive season sales growth guidance to 3-5 percent—well below the anticipated 8 percent.
2/11
Bajaj Auto | CMP Rs 10,093 | Shares of the two-wheeler and three-wheeler major tanked over 13 percent after the company posted lower-than-expected net profit in the second quarter. This comes after it revised its growth outlook for two-wheeler sales in India to a modest 5 percent, at the lower end of its earlier estimate of 5-8 percent.
3/11
CRISIL | CMP Rs 4,743 | Shares slipped 1 percent despite the rating firm reported a 12.9 percent on-year (YoY) increase in net profit at Rs 171.6 crore for the quarter ended September 30, 2024. The company's revenue from operations rose 10.3 percent YoY to Rs 811.8 crore.
4/11
Kolte-Patil Developers | CMP Rs 406 | Shares surged 3.5 percent after the company's solid Q2 business update. The real estate developer locked in its higheest-ever quarterly revenue in Q2. The company achieved a quarterly sales value of Rs 770 crore in the July-September period, reflecting 22 percent on-year growth.
Nalco | CMP: Rs 224 | Shares of domestic aluminium maker surged over 3 percent helped by global major Alcoa Corporation's robust quarterly profit, as well as strong alumina prices. Lower raw material cost was also one of the factors helping Alcoa's quarterly results. Futures prices of alumina - a key ingredient in making aluminium - have risen over 45% this year, as supply remains tight.
6/11
Mphasis | CMP: Rs 3,090 | Shares advanced over 6 percent after the company reported an 8 percent jump in net profit at Rs 423.3 crore in the second quarter of FY25. Mphasis said its revenue recorded a 7.92 percent drop at Rs 3,536.14 crore in the reported quarter over Rs 3,276.5 crore in the same period last fiscal.
7/11
Nestle India | CMP: Rs 2,378 | Nestle India's share price dropped almost 4 percent after the FMCG major reported a marginal fall in the September quarter profit. The company reported a decline of 0.94 percent in its net profit at Rs 899.49 crore for the quarter that ended September 2024, in which it faced high commodity prices and some of its key brands faced softer consumer demand.
8/11
Hero MotoCorp | CMP Rs 5,215 | Shares slipped 3.5 percent, registering its biggest single-day drop in two years after Bajaj Auto reported weaker-than-expected second quarter earnings. Investors turned bearish on call two-wheeler stocks after Bajaj cut its guidance stating weak demand.
Hind Rectifiers | CMP Rs 1,067 | Shares hit the 10 percent upper circuit to scale a fresh record high of Rs 1,067.90 on the National Stock Exchange (NSE), driven by high volumes. So far in the day, around 3 lakh shares of the company changed hands on BSE and NSE combined, compared to the one-month average trading volume of 31,000 shares.
10/11
Titagarh Rail | CMP Rs 1,168 | Shares gained over over 3 percent after Morgan Stanley Asia Singapore Pte bought a stake in the firm in a bulk deal in the previous trading session. The firm bought a 0.57 percent stake or 7.63 lakh shares in the company worth Rs 85.5 crore at an average price of Rs 1,120 per share Meanwhile, Smallcap World Fund Inc offloaded a 0.59 percent stake in Titagarh Rail at an average price of Rs 1,120.12 per share, valued at Rs 88.6 crore.
11/11
L&T Technologies Services | CMP Rs 5,255 | Shares slipped 2 percent after the IT service firm's earnings show for the quarter ended September came in under expectations. L&T Technology Services reported a marginal 1.91 percent increase in its net profit at Rs 319.6 crore in September 2024 quarter. The company had reported a net profit of Rs 313.60 crore in the June quarter.
