Gainers & losers: Stocks and sectors that moved the most on October 7
Benchmark indices ended the day in the red for the sixth straight session, albeit off the day's lows. At close, the Sensex was down 638.45 points or 0.78 percent at 81,050, and the Nifty was down 218.80 points or 0.87 percent at 24,795.80.
The benchmarks-- the Nifty 50 and the Sensex, ended the session in the red for the sixth straight session, albeit off the day's lows. However, it was the broader market that took a beating in today's session, with the smallcap and midcap indices shedding around 3 percent and 2 percent, respectively.
2/11
Natco Pharma | Rs 1,400 | Natco Pharma advanced 3.4 percent in the morning trade on the back of a settlement order in the United States patent case over generic Ozempic products. The company announced that Mylan Pharmaceuticals Inc. and Novo Nordisk have reached a settlement of the US patent litigation related to generic Ozempic.
3/11
AU Small Finance Bank | Rs 731.60 | The stock gained 1.7 percent after it reported healthy loan and deposit growth for the July-September quarter which sent its shares 3 percent higher in trade. The lender's total deposits grew 12.7 percent year-on-year to Rs 1.1 lakh crore. Its CASA deposits increased by 10.9 percent.
4/11
NBCC | Rs 115.90 | The PSU stock jumped 3 percent on October 7 as the stock traded ex-bonus. Today also marks the record date for determining shareholders eligible to receive the bonus shares. The PSU had announced a bonus issue in a 1:2 ratio, granting one new fully paid-up equity share of Re 1 for every two existing shares held.
LTIMindtree | Rs 6,250 | The stock rose 2.2 percent after JP Morgan upgraded LTIMindtree to an 'overweight' rating, with a target price of Rs 6,900 per share. This indicates an upside of 13 percent from the previous closing pricẹ. LTIMindtree is a good proxy play to the banking and financial services in the US and other geographies.
6/11
Mphasis | Rs 2,868.10 | The stock rose around a Mphasis bagged a similar upgrade from JP Morgan, with a target price of Rs 3,400 per share, implying a 19 percent upside for similar reasons. Mphasis has a 59 percent exposure to the US BFSI space.
7/11
Reliance Power | Rs 48.40 | The stock continued its decline, hitting the 5 percent lower circuit for the third consecutive session as investors engaged in profit-booking. The stock is now trading 11 percent below its 52-week high of Rs 53.64, which it reached last week.
8/11
Suzlon Energy | Rs 70.93 | The stock fell to 5 percent, extending losses for the eighth straight session. The sharp decline of over 12 percent in a week follows an ‘advisory cum warning’ letter issued by BSE and National Stock Exchange (NSE) earlier this month.
Vodafone Idea | Rs 9.15 | Shares of the telco dropped as much as 6 percent after the Department of Telecommunications (DoT) reportedly slapped a notice over the non-payment of bank guarantees required to cover past spectrum auction dues.
10/11
Kalyan Jewellers | Rs 704.45 | Shares fell around a percent as investors rushed to book profits off the stock after the company released strong Q2 business updates. The 40 percent run-up in the stock in the past three months gave investors plenty leeway to take home partial profit.
11/11
Varun Beverages| Rs 545.90 | The stock slumped 5.7 percent, extending its fall to a third consecutive session, following the company's announcement of a board meeting last week to consider raising funds through QIP.
