Slideshow | Gainers & Losers: 10 stocks that moved the most on May 11

The market opened on May 11 in the green but erased the gains during the day. At close, the Sensex was down 81.48 points or 0.26% at 31561.22, while Nifty was down 12.30 points or 0.13% at 9239.20. About 1084 shares advanced, 1280 shares declined, and 186 shares remained unchanged.

Banking stocks | Bank Nifty was down 2 percent dragged by ICICI Bank, which was down over 5 percent on Q4 earnings. The other losers included Kotak Mahindra Bank, PNB, RBL Bank and State Bank of India which were down 1-2 percent each.

VIP Industries | Share price jumped over 5 percent after ace investor Rakesh Jhunjhunwala raised his stake by 2.85 lakh shares during the January-March quarter of FY20, BSE data showed. In Q4FY20, Jhunjhunwala held 75,00,400 shares of VIP Industries against 72,15,400 shares held at the end of Q3. In percentage terms, Jhunjhunwala now holds 5.31 percent shares of the company, data showed.

Inox Wind | Share price rose 4 percent after the company won an order from Continuum Power Trading. The company has signed definitive agreements with Continuum Power Trading (TN) Private Limited to supply, erect and commission 250 MW of wind power projects (in two phases of 126 MW and 124 MW) comprising of a mix of 2 MW and 3 MW turbines. As a part of the turnkey order, company will provide Continuum Power with end to end solutions from development and construction to commissioning and providing long term operations and maintenance services.

Auto stocks | Share price of auto stocks gained up to 6 percent with Bajaj Auto, Tata Motors, Maruti Suzuki and Hero MotoCorp being the top gainers. After being shut for more than 40 days, two-wheeler, car and commercial vehicle showrooms are finally beginning to open in areas that were lesser impacted by the COVID-19 pandemic.

IRCTC | Share price hit 5 percent upper circuit as the online booking for passenger trains started. The Indian Railways will be gradually starting passenger train operations from May 12, initially, with 15 pairs of trains (30 return journeys), the government has said on Sunday. The booking for reservation in these trains will start from May 11, the government said, adding that the booking option will be available only on IRCTC website.

HDFC AMC | Share price was down almost 3 percent after weak earnings in Q4FY20. Company's profit in March quarter fell by 9.6 percent year-on-year (down 29.4 percent QoQ) to Rs 250 crore mainly on the account of lower revenue and one-off impact on other income. Revenue in Q4 fell 2.1 percent YoY (down 9.3 percent QoQ) to Rs 476 crore due to low AUM growth, fall in equity-oriented assets as well as less fee income on PMS.

Dr Reddy's Labs | Share price was down 3 percent after the company recalled 1,752 bottles of generic heartburn medicine in the US after the American health regulator found quality issues with the product. As per the latest Enforcement Report by the US Food and Drug Administration (USFDA), the firm is voluntarily recalling 1,752 bottles (1,000 counts) of 40 mg Esomeprazole Magnesium delayed-release capsules in the US.

Airline stocks | Share price of Interglobe Aviation and SpiceJet jumped over 4 percent after news reports said the government is likely to allow airline companies to resume operation of local passenger flights from May 18.

Apollo Pipes | Share price was up 2 percent after promoter Sameer Gupta acquired 75,000 shares in the company at Rs 329.98 per share.

Lupin | Share price jumped over 2 percent after the company's Pithampur facilities completed a successful UK MHRA inspection.