Gainers & Losers: 10 stocks that moved the most on May 19
The Sensex was up 297.94 points, or 0.48 percent, at 61,729.68, and the Nifty gained 73.40 points, or 0.40 percent, to end at 18,203.40. About 1,587 shares advanced, 1,759 declined and 139 remained unchanged
The Indian snapped a three-day losing streak to close higher on May 19. The Sensex was up 297.94 points, or 0.48%, at 61,729.68, and the Nifty closed 73.40 points or 0.40% higher at 18,203.40. About 1,587 shares advanced, 1,759 declined, and 139 remained unchanged. Take a look at the gainers and losers of the day:
2/11
JSW Steel | CMP Rs 693.65 | JSW Steel shares closed marginally higher, as investors seemed to be cautious ahead of the March quarter earnings. The steelmaker, after market hours, reported a 13.3 percent year-on-year rise in consolidated profit at Rs 3,234 crore in the March quarter of FY23.
3/11
NTPC | CMP Rs 173.30 | Shares of NTPC were down over a percent ahead of Q4 earnings. NTPC, one of the largest power generators in the country, is expected to report standalone net sales at Rs 39,770.8 crore, a 21 percent year-on-year (YoY) growth but a decline of 4 percent quarter on quarter (QoQ). Net profit is seen falling 14 percent YoY to Rs 4,861.8 crore, but sequentially, it could grow 9 percent, according to Kotak Institutional Equities.
4/11
InterGlobe Aviation | CMP Rs 2257.45 |Shares of InterGlobe Aviation (IndiGo) opened around 2 percent higher but closed marginally down even after the airline reported a strong set of quarterly numbers followed by an upbeat brokerage commentary. IndiGo's revenue from operations grew 76.5 percent to Rs 14,161 crore from Rs 8,020 crore in the same quarter last fiscal. Morgan Stanley has given an ‘overweight’ rating on shares of InterGlobe Aviation with a hike in target price to Rs 3,126. JP Morgan, too, has an "overweight" call on the stock with a hike in target price to Rs 2,700.
Nazara Technologies | CMP Rs 597.80 |Shares of Nazara Technologies rose over 2 percent as the online gaming company’s subsidiary, Nodwin Gaming, raised $28 million from new and existing investors in its latest funding round. The funds will be deployed to grow the gaming and esports ecosystem by expanding newer IPs (intellectual property), growing the emerging market footprint and for strategic acquisitions that drive value to the network, it said.
6/11
State bank of India | CMP Rs 575.65 |The State Bank of India (SBI) share price closed marginally higher, a day after the public leader posted robust numbers for the quarter ended March 2023. SBI reported a standalone profit of Rs 16,694.51 crore for the March quarter, up 83.18 percent from Rs 9,113.53 crore in the same quarter of the previous. The net interest income came in at Rs 40,392.50 crore, rising 29.5 percent from Rs 31,197 crore in the corresponding quarter of the previous year.
7/11
Ramco Cements| CMP Rs 841.95 | Shares of The Ramco Cements jumped more than 7 percent, a day after the company reported a 27.33 percent increase in consolidated net profit at Rs 150.60 crore for the quarter ended March, driven by volume gains. The company posted a net profit of Rs 118.27 crore during the January-March quarter of the previous fiscal.
8/11
GR Infraprojects | CMP Rs 1095 |Shares of GR Infraprojects closed a percent higher, buoyed by the company's strong performance in the March quarter. The construction company's net profit grew 41 percent on year to Rs 390.60 crore in the fourth and the final quarter of the financial year 2022-23. Revenue rose 2.7 percent to Rs 2,461 crore from Rs 2,396 crore in the corresponding quarter of the previous year.
Gland Pharma | CMP Rs 1065.60 | Shares of Gland Pharma nosedived nearly 20 percent on May 19, hitting their lowest level in 52 weeks, a day after the company reported a dismal set of earnings for the fourth quarter. The drugmaker's net profit for the March quarter plummeted 72.5 percent on year to Rs 78.6 crore on the back of a nearly 29 percent decline in revenue. The topline slumped in Q4 due to a high base on account of COVID sales and a shutdown of production in the Pashamylaram Penems facility for line upgradation.
10/11
LT Foods | CMP Rs 117.50 |LT Foods closed a percent higher, as investors lapped up the scrip buoyed by the company's strong performance in the March quarter. In Q4, the parent company of the Daawat rice brand showcased a robust financial performance with substantial growth across all three key indicators of profit, revenue and profitability.
11/11
Tata Elxsi | CMP Rs 6,997.85 |Shares of Tata Elxsi closed a tad higher from the previous day after the technology services provider posted mixed results for the March quarter. The company recorded a 26 percent year-on-year growth in net profit at Rs 201.5 crore in the March FY23 quarter despite a lower operating margin, aided by lower tax cost. The company clocked a profit of Rs 160.01 crore in the year-ago period.
