Gainers & Losers: 10 stocks that moved the most on October 21

Benchmark indices ended on positive note in the volatile session on October 21. At close, the Sensex was up 104.25 points or 0.18% at 59,307.15, and the Nifty was up 12.30 points or 0.07% at 17,576.30.

Axis Bank | CMP: Rs 904 | The scrip jumped over 9 percent after the bank posted a 70 percent year-on-year rise in its net profit for the September quarter at Rs 5,329.77, beating estimates. Sequentially, net profit grew 29 percent. Net interest income went up 31 percent year-on-year to Rs 10,360.3 crore. Net interest margin was at 3.96 percent, clocking a year-on-year rise of 57 basis points and a sequential increase of 36 bps. JP Morgan upgraded the rating of Axis Bank to overweight and raised the target price to Rs 990 from Rs 780 per share.

Bharat Dynamics | CMP: Rs 954.85 | The scrip gained over 3 percent after Bharat Dynamics (BDL) and Dassault Aviation Pvt Ltd entered into an MoU for Integration of BDL Weapon Systems like Astra & Smart Anti-Airfield Weapon on Rafale Aircraft for Indian Armed Forces and future export market. BDL and IIT, Ropar have entered into MoU to work on joint research projects and technology development for all missiles and underwater weapons.

Hindustan Unilever | CMP: Rs 2,652.60 | The share price added 2 percent ahead of its September quarter earnings. Hindustan Unilever will announce its Q2FY23 results today and analysts expect the FMCG major to clock in 5 percent volume growth, despite subdued rural demand. According to an average of estimates of brokerages polled by Moneycontrol, revenue is expected to rise 15 percent year-on-year (YoY) to Rs 14,678 crore. Net profit is expected to jump 10.5 percent from the corresponding quarter of the last fiscal to Rs 2,417 crore. Sequentially, net profit is likely to grow 5.6 percent.

IDBI Bank | CMP: Rs 44.25 | The stock price slipped and closed in the red on October 21. The bank clocked a massive 46 percent year-on-year growth in standalone profit for the quarter ended September 30, despite a jump in provisions, backed by healthy NII growth and operating performance. Standalone profit increased to Rs 828 crore during the quarter, up from Rs 567 crore in the corresponding period last fiscal. The sequential growth in profit was 10 percent. Net interest income, the difference between interest earned and interest expended, grew by 47.7 percent to Rs 2,738 crore for Q2FY23, with net interest margin expanding by 135 bps YoY to 4.37 percent for the quarter, the bank said in its BSE filing. Sequentially, NIM expanded by 35 bps. The bank reported net advances for the quarter at Rs 1.46 lakh crore, up 17 percent YoY and deposits at Rs 2.3 lakh crore, up 3 percent YoY.

Bajaj Finserv | CMP: Rs 1,681.95 | The scrip shed over 2 percent on October 21. The company recorded nearly 39 percent year-on-year growth in consolidated profit at Rs 1,557 crore for the quarter ended September FY23, largely led by its subsidiary Bajaj Finance. Profit in the corresponding period last fiscal was Rs 1,122 crore. Consolidated total income for the quarter grew by 15.5 percent to Rs 20,803.2 crore, compared to Rs 18,008 crore in the same period last year.

Delhivery | CMP: Rs 381.60 | The share price tanked 19 percent hammered by management commentary that warned of softening demand. The company said it expects moderate growth in shipment volumes for the rest of FY23 due to high inflation, an average user spends, and total active shoppers flatlining or declining during the ongoing festive season. In a letter to shareholders filed with the exchanges on its performance in the September quarter, Delhivery said that shipment volumes in its supply chain services and truckload businesses declined sequentially, owing to seasonality in customers’ businesses.

Ambuja Cements | CMP: Rs 513 | The stock ended in the red after the cement maker reported a 94 percent decline in its consolidated net profit at Rs 51.3 crore for the quarter ended September 2022 as against Rs 891 crore it recorded a year back. On a sequential basis also, the company's profit tanked 94 percent from Rs 865 crore earned in the April-June period. The consolidated revenue for the quarter at Rs 7,143 crore was higher by 7 percent on-year from Rs 6,647 crore recorded during the same period last year. Compared to the previous quarter of the current fiscal, the revenue is lower by 11 percent from Rs 8,033 crore.

Hindustan Zinc | CMP: Rs 280.30 | The share price ended in the green after the firm reported 32.8 percent rise in consolidated net profit at Rs 2,680 crore for September quarter 2022-23. The company had posted a net profit of Rs 2,017 crore for the year-ago period, Hindustan Zinc said in a filing to BSE. Revenue from operations in July-September period increased to Rs 8,127 crore from Rs 5,958 crore in the year-ago quarter, the filing said.

JSW Steel | CMP: Rs 619.80 | The stock ended in the red on October 21. The company reported a consolidated loss of Rs 915 crore for the quarter ended September 2022, compared to a consolidated net profit of Rs 7,179 crore in the year-ago period. During the previous quarter, the company had earned a profit of Rs 839 crore. The performance for the quarter got impacted due to the sharp decline in steel prices in the domestic market, driven by the meltdown in global commodity prices. The decline in realisations negated the impact of lower iron ore prices while higher power and fuel costs further impacted the profitability for the quarter.

Rane Madras | CMP: Rs 385.10 | The share jumped over 5 percent after the company posted an 11 percent jump in its Q2 net profit at Rs 9.7 crore versus Rs 8.7 crore. Its revenue was up 31 percent at Rs 600.4 crore versus Rs 468.4 crore, YoY.