Gainers & Losers: 10 stocks that moved the most on May 23
Among sectors, auto, capital goods, and IT indices added 0.5-1 percent, while the metal index shed 8 percent, and the realty, pharma, and oil & gas index fell 1 percent.
Benchmark indices erased all the intraday gains and ended marginally lower in the volatile session on May 23. At close, the Sensex was down 37.78 points or 0.07% at 54,288.61, and the Nifty was down 51.50 points or 0.32% at 16,214.70.
2/11
Amara Raja Batteries | CMP: Rs 498.95 | The stock price fell over 5 percent after the company reported a decline of 47.80 percent in consolidated net profit at Rs 98.85 crore in the fourth quarter ended March 2022. Revenue from the operations was up 3.72 percent at Rs 2,180.96 crore during the quarter as compared to Rs 2,102.61 crore in the year-ago period.
3/11
Indiabulls Housing Finance | CMP: Rs 116.85 | The share price was down close to 3 percent after the firm's revenue from operations declined by 7.7 percent to Rs 2,189.31 crore against Rs 2,371.71 crore registered in the same period in the previous fiscal. Loan book fell by 7.4 percent to Rs 59,333 crore in the fourth quarter of last fiscal from Rs 64,062 crore a year ago. It; however, reported an 11 percent increase in net profit for the fourth quarter of 2021-22 at Rs 306.75 crore from Rs 276.23 crore in the same period in the previous fiscal.
4/11
Jet Airways | CMP: Rs 119.20 | The scrip jumped 5 percent after the firm said it got an air operator certificate from the Directorate General of Civil Aviation, allowing it to restart commercial flight operations. Jet Airways now plans to recommence operations in the July-September quarter. Aircraft and fleet plan, network, and other details will be available in phases over the coming weeks.
5/11
Thermax | CMP: Rs 2,024.90 | The stock shed over 6 percent after the firm reported a 4 percent year-on-year drop in consolidated net profit to Rs 103 crore for the March quarter. The company’s consolidated revenues were up 26 percent YoY to Rs 1,992 crore. The company attributed lower profitability to increased commodity and freight costs during the quarter. Thermax reported a 127 percent jump in order booking for the quarter at Rs 3,396 crore.
6/11
Power Grid Corporation | CMP: Rs 224.95 | The scrip ended in the red on May 23. Power Grid Corporation of India Ltd posted about an 18 percent rise in its consolidated net profit at Rs 4,156.44 crore for the March 2022 quarter against Rs Rs 3,526.23 crore a year ago, backed by higher income. Total income during the quarter increased to Rs 11,067.94 crore compared to Rs 10,816.33 crore last year.
7/11
Paytm | CMP: Rs 618 | The share price jumped over 7 percent on May 23. One97 Communications, the parent firm of Paytm, on May 20 reported a loss of Rs 762.5 crore for the March quarter of the financial year 2021-22 (Q4FY22). The company had posted a loss of Rs 444.4 crore in the corresponding quarter of the previous fiscal. The company's revenues from operations were up by 89 percent year-on-year, coming in at Rs 1,541 crore. Goldman Sachs has maintained a buy rating on the stock with a target at Rs 1,070 per share.
8/11
Ashok Leyland | CMP: Rs 135.80 | The stock price jumped over 4 percent after brokerages raised the target of the stock post-Q4 result. The Hinduja group flagship company reported a 274 percent year-on-year (YoY) jump in standalone net profit at Rs 901.4 crore for the fourth quarter ended March 31, 2022. The company had posted a net profit of Rs 241.2 crore in the corresponding quarter of the last financial year. Credit Suisse has maintained outperform rating on the stock and raised the target price to Rs 169 per share. Nomura has kept a buy rating on the stock and raised the target price to Rs 168 per share. Jefferies has also maintained a buy rating on the stock and raised the target price to Rs 160 from Rs 130 per share.
9/11
Aditya Birla Fashion | CMP: Rs 272 | The scrip ended in the green as the firm is in talk with GIC for raising funds, CNBC-TV18 reported quoting a source. GIC may infuse USD 300 million as equity and this fund may use for digital, direct-to-customer strategy, it added. The company to consider GIC investment at the board meet on May 24.
10/11
Divi's Laboratories | CMP: Rs 3,892 | The scrip was down 10 percent on May 23. Divi's Laboratories has posted a 78.2 percent jump in its Q4 consolidated net profit at Rs 894.6 crore against Rs 502 crore and revenue was up 40.8% at Rs 2,518.4 crore versus Rs 1,788.2 crore, YoY. Earnings before interest, tax, depreciation, and amortisation (EBITDA) was up 54.2% at Rs 1,104.4 crore versus Rs 716.3 crore and the margin was up at 43.8 percent versus 40.1 percent, YoY.
11/11
Patel Engineering Company | CMP: Rs 27.30 | The stock ended in the green after the company posted a net profit of Rs 21.2 crore in the quarter ended March 2022 versus a loss of Rs 144.9 crore and revenue was 51.6% at Rs 1,112 crore versus Rs 733.6 crore, YoY. Earnings before interest, tax, depreciation, and amortization (EBITDA) rose 97.8% at Rs 155 crore versus Rs 78.4 crore and margin at 13.9% versus 10.7%, YoY.
