Gainers & Losers: 10 Stocks that moved the most on May 23

The Indian equity indices closed almost flat amid volatility, with the Sensex up 18.11 points or 0.03 percent at 61,981.79, and Nifty up 33.60 points or 0.18 percent at 18,348.00. About 1,711 shares advanced, 1,694 shares declined, and 107 shares unchanged. Let's take a look at the gainers and losers for the day:

Garware Technical Fibres Limited | CMP Rs 3019.40 |Shares of Garware Technical Fibres Limited jumped nearly 4 percent in morning trade and closed a percent higher, a day after the company posted robust Q4 results. On a quarterly basis, the company's consolidated net sales increased by 5 percent quarter on quarter (QoQ) to Rs 370.5 crore in the quarter ended March, compared to Rs 274.6 crore in Q3 FY23, and 4 percent year-on-year (YoY) compared to Rs 361.3 crore of march quarter of FY22.

ITI | CMP Rs 109.65| Government-run telecom equipment manufacturer ITI Ltd shares zoomed nearly 4 percent after the company bagged an advance purchase order from Bharat Sanchar Nigam Limited (BSNL) for setting up 4G infrastructure worth Rs 3,889 crore. BSNL has issued an Advance Purchase Order (APO) for Reservation Quota (RQ) Order in the West Zone.

Gujarat Alkalies and Chemicals | CMP Rs 662 | Shares of Gujarat Alkalies and Chemicals slumped around 3 percent in early trade on May 23, a day after the chemical company recorded a sharp decline in its net profit for the quarter, down 67.8 percent on year to Rs 71 crore from Rs 221 crore in the same quarter last year. The drag in bottomline was largely due to significantly weaker operating performance.

Fusion Micro Finance | CMP Rs 493 |Shares of Fusion Micro Finance Ltd jumped 3 percent after the company reported its Q4 numbers on May 22. On a quarterly basis, the company reported a total income of Rs 520.692 crores during Q4FY23, as compared to Rs 466.503 crores in Q3FY 23.  Its net interest income (NII) came in at Rs 273.75 crores, clocking a 10.51 percent growth on a quarter-on-quarter basis. Whereas, profit after tax (PAT) for the quarter was reported at Rs 114.52 crores clocking a growth of 11.77 percent.

NACL Industries | CMP Rs 100.40 | Shares of NACL Industries Ltd zoomed nearly 15 percent after the company's net profit for the March quarter nearly doubled. The agrochemical manufacturer's net profit for the quarter spiked 98 percent to Rs 41.65 crore from Rs 21.02 crore a year ago, while revenue jumped 26.7 percent to Rs 600.07 crore as against Rs 473.64 crore last year.

EIH | CMP Rs 201 | Shares of EIH Ltd climbed 1.86 percent to Rs 205.20 intraday and closed marginally lower after the Oberoi group-run hospitality firm reported nearly six-fold jump in consolidated net profit at Rs 84 crore in the March quarter, driven by higher revenues. The company had posted a consolidated net profit of Rs 15 crore in the same quarter a year ago. Consolidated revenue from operations during the period under review jumped 111.6 percent to Rs 637 crore as compared to Rs 301 crore last fiscal.

Borosil | CMP Rs 377 |Shares of Borosil Ltd fell over 8 percent after the company reported a 35 percent decline in net profit for the March quarter at Rs 22.34 crore, against Rs 34.18 crore a year ago, dragged down by rising cost pressure. Sequentially, net profit fell 4 percent. Borosil saw its profits cracking despite an 18 percent surge in revenue over the last year to Rs 264.32 crore, while its total cost zoomed 12 percent to Rs 235.69 crore during the quarter under review.

Finolex Industries | CMP Rs 182.30 |Shares of Finolex Industries closed over 4 percent lower as a decline in sales and profit disappointed investors. Consolidated revenue of the PVC pipes and fittings manufacturer fell 28 percent to Rs 1,141.1 crore, while net profit also tanked 66 percent to Rs 166.5 crore.

Gland Pharma | CMP Rs 939.95 |Shares of Gland Pharma rebounded to close 5 percent higher after a sharp plunge in the stock in the last five sessions. The stock had lost nearly 39 percent in the five sessions, with the past two sessions having worst hit when it eroded over 36 percent of share value on the back of a dismal set of fourth-quarter earnings. On May 22, it made a fresh 52-week low of Rs 861.

HEG | CMP Rs 1166.90 |Shares of HEG Ltd tumbled over 7 percent to Rs 1,203.35 after the graphite electrode manufacturer registered a 23 percent year-on-year decline in consolidated profit at Rs 99.72 crore for the March FY23 quarter, impacted by lower topline and operating numbers. Revenue from operations for the quarter at Rs 616.88 crore fell by 8.3 percent as compared to the corresponding period last fiscal.