On May 2, the Sensex ended 242 points higher at 61,354.71, and the Nifty was up 82.7 points at 18,147.70. About 2053 shares advanced, 1471 shares declined, and 177 shares were unchanged. Take a look at the top gainers and losers
2/11
Aarti Drugs | CMP: Rs 455.50 | Aarti Drugs closed 8 percent higher on steady March quarter earnings. The company reported a 7 percent increase in revenue to Rs 743 crore compared to Rs 697 crore reported in the corresponding quarter of last fiscal while net profit increased marginally by 2 percent to Rs 56 crore.
3/11
Oil and Natural Gas Corporation | CMP: Rs 164.30 | Shares of ONGC zoomed over 3 percent after the government lowered windfall tax on crude oil to Rs 4,100 from Rs 6,400 per tonne, effective immediately. The government has left the windfall tax on petrol, diesel and aviation turbine fuel at zero.
4/11
RBL Bank | CMP: Rs 154.55 | RBL Bank slumped 4.5 percent on worries about higher operating expenses and elevated credit costs. Market participants appeared cautious despite the private lender’s net profit improving 37 percent year on year (YoY) to Rs 271 crore.
5/11
Satin Creditcare Network | CMP: Rs 163 | The shares of Satin Creditcare Network Ltd rallied over 12 percent on robust Q4 results. Asset Under Management (AUM) went up by 24 percent YoY and its profit after tax (PAT) for Q4FY23 jumped 60 percent YoY to Rs 94 crore.
6/11
Sun Pharmaceutical Industries | CMP: Rs 972.40 | Shares of Sun Pharma fell over 1.5 percent as the US Food and Drug Administration (FDA) put a partial clinical hold on its application for an experimental dermatological drug due to potential of thrombotic events.
7/11
M&M Financial Services | CMP: Rs 266.80 |The stock closed over 3 percent higher after the company reported a 14 percent rise in standalone net profit for Q4 at Rs 684 crore. Net interest income was at Rs 1,723 crore, 13 percent higher from the year-ago period and total income rose 24 percent YoY to Rs 3,057 crore.
8/11
RVNL | CMP: Rs 118.30 | The scrip of Rail Vikas Nigam Limited (RVNL) ended 10 percent higher after the company received ‘Navratna’ status which allows greater financial autonomy to Central Public Sector Enterprises to invest an amount of up to Rs 1,000 crore without requiring explicit government approval. The company's joint venture (JV) with SCC has also emerged as the lowest bidder for a canal project worth Rs 2,249 crore in Rajasthan.
9/11
Datamatics Global Services | CMP: Rs 415.50 | The stock zoomed 20 percent and hit its 52-week high of Rs 415.50, reacting to healthy earnings show for the quarter ended March. Revenue of the global digital operations, technology and experience company came in at Rs 416.3 crore, up 33 percent YoY and 12 percent QoQ, during the March quarter. Geography wise, the US contributed 54 percent to the company’s FY23 revenue, followed by India with 27 percent share and UK & Europe with 12 percent.
10/11
Newgen Software Technologies | CMP: Rs 568.5 | The share price of Newgen Software, a global provider of low code-based digital transformation platform, closed 13 percent higher after the company reported a 63 percent jump in net profit at Rs 79 crore from Rs 48 crore in the previous quarter. Revenue from operations stood at Rs 305 crore, up 20 percent sequentially from Rs 255 crore in Q3 FY23.
11/11
IDFC First Bank | CMP: Rs 63.85 | The stock gained over 5 percent after the bank doubled its net profit for the March quarter to Rs 803 crore, reporting its highest ever quarterly profit. Net interest income for the bank grew 35 percent year-on-year to Rs 3,597 crore from Rs 2,669 crore in Q4 FY22 and the core operating profit grew 61 percent YoY to Rs 1,342 crore.
