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Gainers & Losers: 10 stocks that moved the most on November 2
The Sensex closed 215.26 points down at 60,906 and the Nifty ended 62.60 points lower at 18,082
1/11
The Indian benchmark indices snapped their four-day winning streak on November 2 to end lower as investors remained cautious ahead of the US Fed meeting outcome later in the night and a day ahead of the RBI's unscheduled meeting. At close, the Sensex was down 215.26 points at 60,906. Nifty was down 62.60 points at 18,082.
2/11
LIC Housing Finance | CMP: Rs 364.55 | The stock declined 8.9 percent after the company's net interest income for the quarter declined 0.8 percent year-on-year to Rs 1,163 crore. Its net interest margin also moderated to 1.8 percent in Q2FY23 from 2.0 percent a year ago.
3/11
Karnataka Bank | CMP: Rs 112.65 | The stock gained 20 percent and hit the upper circuit after the lender posted an all-time high net profit of Rs 411 crore for the September quarter. Net profit grew 228 percent from a year earlier. Net interest income increased 26 percent to Rs 802.73 crore.
4/11
Sun Pharma | CMP: Rs 1051.60 | The stock continued to gain on the back of strong Q2FY23 numbers. Citi has a Buy rating on the stock with the target raised to Rs 1,320 from Rs 1,150 a share. “Management commentary was upbeat, especially across specialty products. "We raise earnings estimate by 10-13 percent,” Citi’s analysts said. It was the top gainer on the Sensex, up 1.8 percent.
5/11
IFCI | CMP: Rs 11.95 | The stock surged 19.5 percent after Bloomberg reported that the government plans to infuse about Rs 2,000 crore into the company. The report said the plan is to merge IFCI with its unit, Stock Holding Corp of India, in an attempt to rescue the lender.
6/11
Precision Wires | CMP: Rs 93 | The stock gained 7 percent after the company said that it will approve the issue of bonus equity shares on November 10. The company will also consider its quarterly results on the same day.
7/11
Adani Transmission | CMP: Rs 3302 | The company posted 24 percent year-on-year fall in its Q2 net profit at Rs 206.2 crore versus Rs 272.5 crore, while revenue was up 32.6 percent. The stock closed 1.21 percent lower.
8/11
Kajaria Ceramics | CMP: Rs 1045 | The stock tumbled 4 percent after net profit declined 39.6 percent to Rs 70 crore against Rs 116 crore in the year-ago period. Margins contracted to 12 percent from 18.5 percent in the same quarter last fiscal. Earnings Before Interest, Taxes, Depreciation, and Amortisation, or EBITDA also fell 28.1 percent to Rs 129.7 crore.
9/11
Mahindra Holidays | CMP: Rs 274.95 | Net profit declined 30.5 percent year-on-year to Rs 41 crore against Rs 59 crore in the same quarter last fiscal, while revenue grew 9.5 percent. EBITDA fell 1.6 percent to Rs 116.5 crore. EBITDA margins contracted to 19.5 percent from 21.7 percent YoY. The stock closed 2.79 percent lower.
10/11
Alembic Pharma | CMP: Rs 611.70 | The stock gained 5.86 percent after the company received final approval from the US Food & Drug Administration (USFDA) for Mesalamine Extended-Release capsules. Mesalamine is indicated for the maintenance of remission of ulcerative colitis in adults.
11/11
Cholamandalam Finance | CMP: Rs 742.75 | While net profit declined by 7 percent YoY to Rs 563 in September, assets under management grew 22 percent to Rs 91,841 crore and its net income grew by 21 percent to Rs 1,697 crore. The stock gained 4.69 percent on November 2.
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