Gainers & Losers: 10 stocks that moved the most on May 11
The Sensex closed 35.68 points or 0.06 percent lower at 61,904.52, while the Nifty50 ended down 18.10 points or 0.10 percent at 18,297.00. About 1,987 shares advanced, 1,399 declined and 140 remained unchanged
The markets opened higher but quickly slipped into the negative zone and closed flat on May 11. The Sensex settled 35.68 points or 0.06 percent lower at 61,904.52, while the Nifty50 ended down 18.10 points or 0.10 percent at 18,297.00. About 1,987 shares advanced, 1,399 declined and 140 were unchanged. Here's a look at today's gainers and losers:
2/11
Vodafone Idea | CMP Rs 7.07 | Vodafone Idea shares gained 5 percent on reports of the company coming out with a revival plan within a month following the government's acquisition of equity in the struggling telecom company.
3/11
Larsen & Toubro | CMP Rs 2,2243 |Shares of Larsen & Toubro (L&T) dropped five percent as weak profitability dampened investor spirit. Goldman Sachs said that weak margin remains an area of disappointment. CLSA, too, said a decline in core engineering and construction margins was disappointing. L&T’s core EBITDA margin came in at 8.7 percent, flat quarter on quarter and 80 bps lower year on year (YoY).
4/11
Dr Reddy's Laboratories | CMP Rs 4,530 | Shares of Dr Reddy's slumped 7 percent a day after the company posted its Q4 results. The drugmaker's net profit for the quarter jumped 10-fold to Rs 959.2 crore from Rs 87.5 crore in the same period last year but still lagged the Street's estimate of Rs 1,093.6 crore. Brokerages also flagged concerns over the company's growth path.
Hindalco Industries | CMP Rs 420.9 | Hindalco shares closed almost 4 percent lower after Novelis, a wholly owned subsidiary, contributing more than 60% to the company's topline reported disappointing Q4 numbers. The company's net income fell 27 percent year-on-year to $156 million and net sales dipped by 9 percent YoY to $4.4 billion for the fourth quarter, primarily driven by lower average aluminum prices and 5 percent decrease in total flat rolled product shipments.
6/11
Asian Paints | CMP Rs 3,138.60 | The stock ended over 3 percent higher after the paint maker reported consolidated net profit of Rs 1,234.14 crore in the March quarter of FY23, a growth of 45.12 percent YoY. Revenue from operations came in at Rs 8,787.34 crore, up 11 percent YoY. Preeyam Tolia, Senior Research Analyst, Axis Securities, said Asian Paints' result was strong, led by double-digit volume growth. EBITDA margins saw significant beat, primarily led by better-than-expected gross margin expansion due to lower raw material prices.
7/11
Godrej Consumer Products | CMP Rs 980.3 | Godrej Consumer Products shares gained over 2 percent after the company reported a 24.5 percent year-on-year (YoY) growth in consolidated profit at Rs 452.1 crore for the quarter ended March 31, 2022. Consolidated revenue for the period grew by 10 percent YoY to Rs 3,200.2 crore in Q4FY23 driven by volume growth of 6 percent.
8/11
Mankind Pharma | CMP Rs 1,379.65 | Mankind Pharma shares dropped 5.5 percent in intraday trade and managed to close off its day's low, down 0.2 percent. The fall was after reports said income tax department searched the company's Delhi office. The search reported by CNBC-TV18, comes barely two days after the company made an impressive market debut on May 9.
Ratnamani Metals & Tubes Ltd | CMP Rs 2,374.25 | Shares of Ratnamani Metals & Tubes Ltd surged over 6 percent after the company reported better-than-expected earnings. The firm reported a net profit of Rs 194 crore in March quarter, up 71 percent from Rs 113 crore a year ago. Revenue advanced 53 percent YoY to Rs 1,505.64 crore.
10/11
Rail Vikas Nigam Limited | CMP Rs 126.75 | RVNL shares closed 4 percent higher after the company bagged an order from the Mumbai Metropolitan Region Development Authority for a project. The project, which is in partnership with Siemens India as the lead in the consortium with a 60 percent share, involves designing, making, supplying, installing, testing, and starting up two 110KV receiving substations, as well as the necessary cabling and power distribution systems, and a SCADA system for the Mumbai Metro line 2B.
11/11
HG Infra Engineering | CMP Rs 948.80 | HG Infra Engineering Ltd closed 4 percent higher, a day after posting a robust set of number for the March quarter of financial year 2022-23. On consolidated quarterly basis, the company reported net sales at Rs 1,535.43 crore in the March quarter, up 44.21 percent from Rs 1,064.69 crore in the year-ago period.
