The Indian stock market started the day on a negative note tracking its global peers and entended the loss as the session went by. Sensex was down 885.72 points or 2.77 percent at 31,122.89, and the Nifty shed 240.80 points or 2.57 percent at 9,142.75. About 960 shares advanced, 1,334 shares declined, and 151 shares are unchanged. Here are the 10 stocks that moved the most today:
2/11
Reliance Industries | The stock fell over 4 percent as the company’s share was trading ex-right today. On April 30, the company announced fundraising by way of rights issue along with its Q4 FY20 numbers. The company had announced fundraising of Rs 53,125 crore via 1:15 rights issue and fixed May 14 as the record date. One share will be offered for every 15 shares held at Rs 1,257, a 14 percent discount to the closing price for April 30. Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
3/11
Godrej Consumer | The stock jumped over 5 percent after Global research firm Jefferies maintained a 'hold' rating on the stock, with a target of Rs 550 per share. On May 13, the company had reported more than a 75 percent drop in consolidated net profit at Rs 229.90 crore in the fourth quarter ended March 2020, hit by disruptions in sales because of the coronavirus outbreak.
4/11
Maruti Suzuki | Share price gained over a percent after Jefferies maintained a 'buy' with a price target of Rs 6,000. The auto industry will see a strong rebound in 2022 on a low base after two years of plunging sales. Replacement cycle will kick in given the rising age of vehicles. Estimates earnings per share will grow 35 percent in 2022, it said.
5/11
Lupin | The share price was up 2 percent after the company said that its facility in Vizag, Andhra Pradesh, has received the inspection closure report from the US health regulator. The inspection for the facility was conducted by the United States Food and Drug Administration (USFDA) during January 13-17, the company said.
6/11
IT stocks dragged the indices on Gartner's prediction that IT spending will decline 8 percent. MindTree, Tech Mahindra, NIIT Tech, and Infosys were all down more than 5 percent each.
7/11
ABB India | The stock was down over 2 percent after the company reported a nearly 26 percent decline in net profit to Rs 66 crore in the January-March quarter of 2020 compared to Rs 89 crore in the year-ago quarter. Total income of the company dropped to Rs 1,568.02 crore in the March quarter from Rs 1,869.37 crore in the same quarter of last year, the company said in a statement.
8/11
Finolex Industries | The share price was up over a percent after the company partially resumed operations in a phased manner at its Ratnagiri (Maharashtra) and Masar (Gujarat) plants.
9/11
Dabur India | The share price jumped over 3 percent after the company launched clinical trials to assess whether its flagship product Chyawanprash could boost immunity against the COVID-19.
10/11
Syngene International | The share price was up over 5 percent after the company reported a 20 percent rise in its consolidated net profit to Rs 120 crore for the quarter ended March 31, 2020, driven by robust growth in its main divisions.
11/11
PNC Infratech | The share price jumped over 2 percent after NHAI declared the company, an L1 bidder for a road project in UP under Bharatmala Pariyojana on Hybrid Annuity Mode (HAM) for Rs 1,412 crore.
