Gainers & Losers: 10 stocks that moved the most on October 8

Benchmark indices rose for the sixth consecutive day on October 8 but profit booking in the last hour pulled the Nifty below 11900, which has been tested intraday, while Sensex settled with a gain of 300 points. At close, the Sensex was up 303.72 points, or 0.76%, at 40,182.67, and Nifty was up 95.70 points, or 0.82%, at 11,834.60. Here are 1o stocks that moved the most:

Tata Consultancy Services | CMP: Rs 2,818.45 | The stock price gained 3 percent after the company reported a profit after tax of Rs 7,475 crore for the quarter ended September 2020, registering a 6.7 percent sequential growth. The deal wins for the quarter were strong with total contract value at $8.6 billion against $6.9 billion in Q1FY21. The board members of the company have approved a proposal to buy back up to 5,33,33,333 equity shares of the company, which is 1.42 percent of the total paid-up equity share capital, at around Rs 3,000 per equity share for an aggregate amount up to Rs 16,000 crore.

Wipro | CMP: Rs 359.90 | The stock jumped over 7 percent on reports of the Board considering buyback of shares. The Board of directors will be considering a proposal of buyback of equity shares of the company at the meeting scheduled to be held on October 13, 2020. The company will announce the results for the second quarter ended September 30, 2020, in the aforesaid meeting.

Nitco | CMP: Rs 17.85 | The stock price jumped over 7 percent after the company posted better sales numbers in the month of September 2020. The company's sales volume during the second quarter ended on September 30, 2020 has improved significantly and the sales volume for the month of September 2020 is almost at 80% of the sales volume achieved in September 2019, company said in its press release.

GM Breweries | CMP: Rs 384 | The stock shed 5 percent after the company in an exchange filing said that its net profit went down 43.5 percent at Rs 11.2 crore against Rs 19.8 crore YoY. Revenue of the company was down 40 percent at Rs 72.6 crore against Rs 121.4 crore YoY. EBITDA fell 37.2 percent at Rs 15.2 crore against Rs 24.3 crore YoY while EBITDA margin stood at 21 percent against 20 percent YoY.

Jet Airways (India) | CMP: Rs 30.10 | The share price gained 5 percent on the buzz that the Kalrock-Jalan consortium has come out as the winner in the race for Jet Airways. On October 7 late evening Twitter went abuzz, with many users sharing that the Kalrock-Jalan consortium has come out as the winner in the race for Jet Airways. However, Jet Airways clarified that the consortium of Kalrock Capital and Murari Lal Jalan has not been chosen as the successful resolution applicant by the committee of creditors in the corporate insolvency resolution process.

Dr. Reddy's Laboratories | CMP: Rs 5,211 | The stock was up 2 percent after the company received US FDA nod for icatibant acetate injectable and ephedrine sulphate solution used to treat acute attacks of hereditary angioedema in adults.

Future Retail | CMP: Rs 83.70 | The share price was down over 5 percent after Amazon.com Inc. sent a legal notice to Kishore Biyani-led Future Group over its Rs 24,700-crore asset sale to Reliance Retail Ventures Ltd, calling it a breach of a 2019 agreement between Amazon and Future. Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd. which published moneycontrol.com

Lakshmi Vilas Bank | CMP: Rs 17.80 | The stock price jumped over 7 percent after the bank said it has received an indicative non-binding offer from Clix Group for the proposed merger. “Further to the process of considering and evaluating the proposed amalgamation with M/s. Clix Capital Services Private Limited ("Clix Capital"), M/s. Clix Finance India Private Limited ("Clix Finance") and M/s. Clix Housing Finance Private Limited ("Clix Housing") (collectively, the "Clix Group"), we are glad to inform that, the Bank has received an indicative non-binding offer from Clix Group,” the bank said in a notification to BSE.

Cadila Healthcare | CMP: Rs 435.35 | The stock gained 5 percent after the pharma company launched pressurized metered dose inhaler Forglyn in India to be used in patients suffering from chronic obstructive pulmonary disease.

ABB Power | CMP: Rs 935 | The share shed 4 percent on October 8. The company won a project worth more than Rs 100 crore from HPCL Rajasthan Refinery (HRRL), a joint venture between state-run Hindustan Petroleum Corporation Limited and the Government of Rajasthan, it said in an exchange filing.