Gainers & Losers: Stocks that moved the most on October 30
Amid the recent market correction, Bank of America Securities noted that risks were unfolding as anticipated. The brokerage highlighted that vulnerable areas, such as state-owned enterprises (SoEs), low-float stocks, and momentum-driven counters, were the hardest hit in the downturn.
The benchmark Sensex and Nifty 50 reversed their two-day uptrend and ended with cuts on October 30 dragged by selling in pharma and financial names. In contrast, capital goods and select auto stocks witnessed strong buying. At close Sensex was down 0.5 percent or 400 points at 79,965 and Nifty was down 116 points at 24,350.
2/11
Garden Reach Shipbuilders | CMP: Rs 1,606 | Shares of Garden Reach rose close to 4 percent after the company secured an order worth Rs 491 crore to design an Acoustic Research Ship for the Defence Research and Development Organisation.
3/11
Adani Enterprises | CMP: Rs 2,955 | Shares of the flagship Adani firm, Adani Enterprises rallied almost 4 percent after the company's solid Q2 earnings. Its net profit ballooned nearly eightfold to Rs 1,742 crore.
4/11
Force Motors | CMP: Rs 7,662 | Shares were locked in 20 percent upper circuit after the company posted strong second quarter earnings. During the quarter, Force’s consolidated net profit jumped 43 percent to Rs 134 crore.
Shriram Properties | CMP: Rs 107 | Shares rose 3 percent after the company signed a joint development agreement to develop a project in Pune, staring at a revenue potential of about Rs 750 crore.
6/11
Maruti Suzuki | CMP: Rs 11,265 | Shares of India’s largest four-wheeler OEM rose 2 percent even as brokerages issued negative calls on the counter following its weak second quarter earnings.
7/11
Honeywell Automation | CMP: Rs 45,201 | Shares dropped nearly 8 percent after the company reported a decline in its Q2 net profit amid sluggish demand. The engineering firm reported a 5.6 percent decline in net profit to Rs 115 crore.
8/11
Star Health and Allied Insurance | CMP: Rs 516 | Shares fell nearly 4 percent after the company’s net profit declined 11% to Rs 111 crore for the second quarter.
Voltas | CMP: Rs 1,697 | Shares fell over 4 percent after declaring its Q2 earnings. While the company showed significant annual improvement, sequential results indicated a sharp decline in earnings. Sequentially, net profit dropped by 60 percent and revenue by 47 percent.
10/11
Torrent Pharma | CMP: Rs 3,140 | Shares of the pharma major slipped over 2 percent after reports cited that the promoters will likely sell shares worth Rs 3,000 crore via block deal. As of September, the promoter Torrent Investments held 71.25 percent stake in the company, stock exchange data showed.
11/11
Cipla | CMP: Rs 1,418 | Shares fell 4 percent after analysts cut their target price on the stock following the company's second quarter earnings. The management said there is seasonal weakness in the prescription and trade generic segments, but strong growth is noted in consumer health.
