Gainers & Losers: 10 stocks that moved the most on October 16

After breaking 10-day winning streak in the previous session, the benchmark indices bounced back on October 16 supported by the bank, metal and pharma names. At close, Sensex was up 254.57 points, or 0.64%, at 39,982.98, and Nifty was up 82.10 points, or 0.70%, at 11,762.50. Here are 10 stocks that moved the mmost:

Tech Mahindra | CMP: Rs 822 | The stock added over a percent after the company entered into a joint venture with Sumitomo Corporation, Japan. The company has executed today a joint venture agreement with M/s Sumitomo Corporation, Japan to provide engineering services to the automotive sector. The proposed joint venture shall have two shareholders with each holding a 50% stake.

Cyient | CMP: Rs 388.70 | The stock price jumped over 6 percent after the IT firm reported a 14.8 percent decline in its consolidated net profit to Rs 83.9 crore for September 2020 quarter. The Hyderabad-based company had posted a net profit of Rs 98.5 crore in the year-ago period, it said in a regulatory filing. Its revenue decreased 13.4 percent to Rs 1,003.3 crore for the period under review as against Rs 1,158.9 crore in the year-ago. Company's consolidated net profit was up 3.1 percent QoQ to Rs 83.9 crore versus Rs 81.4 crore and revenue was up 1.2 percent to Rs 1,003.3 crore versus Rs 991.7 crore.

Mindtree | CMP: Rs 1,327 | The share price was down over 6 percent after the company reported 19 percent QoQ jump in its consolidated net profit at Rs 253.7 crore against Rs 213 crore in the quarter ended June 2020. The company board declared an interim dividend of Rs 7.50 per equity share. The record date for payment of the interim dividend will be October 27, 2020. Dolat Capital has maintained sell with target at Rs 1,190.

HCL Tech | CMP: Rs 830.05 | The stock was down 3 percent on October 16. September quarter net profit came in at Rs 3,142 crore against Rs 2,925 crore in the quarter ended June 2020. According to CNBC-TV18 poll, the profit was expected at Rs 3,046 crore. Rupee revenue rose 4.2 percent QoQ to Rs 18,594 crore against Rs 17,841 crore. The Earnings before interest and tax (EBIT) margin was at 21.6 percent (versus 20.5%, QoQ), which is a 5-year high.

Alembic Pharma | CMP: Rs 955.55 | The share price ended in the green after the company received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Amantadine Hydrochloride Tablets, 100 mg.

Cadila Healthcare | CMP: Rs 428.20 | The stock jumped 3 percent after Zydus Cadila has received final approval from the USFDA to market Fingolimod Capsules, 0.5 mg, a sphingosine 1-phosphate receptor modulator indicated for the treatment of relapsing forms of multiple sclerosis (MS). The drug will be manufactured at the group’s formulation manufacturing facility at the SEZ, Ahmedabad.

Shakti Pumps | CMP: Rs 237.40 | The share price added over a percent after the company's consolidated net profit came in at Rs 22.5 crore against loss of Rs 4.3 crore (YoY). Consolidated revenue came in at Rs 201.1 crore against Rs 91.2 crore (YoY). Consolidated EBITDA was at Rs 30.8 crore against Rs 4.4 crore (YoY). Consolidated EBITDA margin stood at 15.3 percent against 4.9 percent (YoY).

Amber Enterprises | CMP: Rs 2,168 | The stock jumped over 8 percent after the Directorate General of Foreign Trade banned the import of air conditioners (AC). The Directorate General of Foreign Trade (DGFT) has come with a notification where they have put AC imports with refrigerants under the prohibited list.

Vimta Labs | CMP: Rs 139.80 | The share price gained 5 percent after the company reported a whopping 720 percent jump in standalone net profit in the September quarter. Net profit of the company zoomed 720 percent to Rs 7.38 crore in the quarter ended September 2020 as against Rs 0.90 crore during the previous quarter ended September 2019. Sales of the company rose 38.52 percent to Rs 58.80 crore in the quarter ended September 2020 as against Rs 42.45 crore during the previous quarter ended September 2019.

Philips Carbon | CMP: Rs 134.95 | The stock gained 3 percent on October 16. The company's net profit went down 25 percent at Rs 58 crore against Rs 77.4 crore (YoY). Revenue went down 23 percent at Rs 664 crore against Rs 863 crore (YoY). EBITDA was down 18 percent at Rs 105.3 crore against Rs 128.4 crore (YoY). EBITDA margin stood at 15.9 percent against 14.9 percent (YoY).