The market snapped its 8-day winning streak to close lower on May 3, ahead of the US Federal Reserve's rate decision. The Sensex was down 161.41 points or 0.26% at 61,193.30 and the Nifty was down 58 or 0.32% at 18,089.80. About 1,713 shares advanced, 1,695 declined and 145 remained unchanged. Take a look at the biggest gainers and losers for the day:
2/11
Astec LifeSciences | CMP Rs 1402.35 | Shares of Astec LifeSciences sunk 11 percent intraday as the company’s poor Q4 performance drove investors to sell the stock. The company’s sales tanked 53 percent year on year (YoY) to Rs 127 crore in Q4 of FY23. It reported a loss of Rs 5 crore as compared to the net profit of Rs 43 crore posted a year ago. The stock managed to stage a recovery and closed 3 percent higher.
3/11
Fino Payments Bank | CMP Rs 219.65 | The stock closed around a percent higher after the company reported a 25 percent on-year jump in its consolidated net profit at Rs 22 crore for the quarter ended March 2023. Net revenue increased 18 percent to Rs 106 crore from Rs 90 crore in the year -ago quarter.
4/11
InterGlobe Aviation | CMP Rs 2,163.90 | Shares of InterGlobe Aviation, which operates IndiGo, zoomed 4.5 percent on expectations of higher market share after GoFirst filed for bankruptcy. Bank of America believes that Go First insolvency will remove 9 percent of domestic supply, which will help other airlines.
5/11
SpiceJet Ltd| CMP Rs 31.93 | Shares of India's second-largest low-fare carrier SpiceJet Ltd rose over 5 percent in the early hours and closed 1 percent higher after the company announced that it would borrow Rs 400 crore to get 25 of its grounded aircraft in the air.
6/11
Manappuram Finance Ltd | CMP Rs 113.95 | The non-banking financial company (NBFC) shares closed 12 percent down on reports of the Enforcement Directorate searching multiple locations linked to the company in Kerala's Thrissur. The searches were in connection with the company collecting Rs 150 crore in deposits without the RBI's approval, reports said. It is also suspected of doing large-scale cash transactions by violating KYC norms.
7/11
Gravita India Ltd | CMP Rs 557.90 | Shares of Gravita India zoomed 11 percent, hitting a record high of Rs 567.65, and closed 9 percent higher, after the company's arm got a loan of 34 million euros from European Developmental Financial Institutions.
8/11
Anupam Rasayan India Ltd | CMP Rs 1,211.20 | Shares of Anupam Rasayan closed 2.37 percent higher after rallying to an all-time high of Rs 1,224 on strong earnings in the March quarter. Total revenue was at Rs 504.2 crore in Q4FY23, a growth of 59 percent YoY.
9/11
Spandana Sphoorty Financial Ltd | CMP Rs 656.05 | Shares of the Hyderabad-based NBFC Spandana Sphoorty, specialising in rural loans, closed around 4 percent higher following strong earnings performance in the March quarter. The company reported a consolidated net profit of Rs 105.55 crore, a staggering 268 percent increase from the December quarter.
10/11
Indostar Capital | CMP Rs 117.00 | Non-banking finance company IndoStar Capital Finance closed 5 percent lower, a day after the promoters announced an offer for sale (OFS) of a 14.2 percent stake at the floor price of Rs 95, which was at a 22.8 percent discount from the last closed price.
11/11
MRF Ltd | CMP Rs 93,223.75 | MRF share price closed nearly 5 percent higher after healthy earnings growth with sharp margin improvement in March quarter of FY23. The standalone profit of the tyre maker increased 162 percent to Rs 410.66 crore for the March FY23 quarter, backed by robust operating performance and exceptional gains.
