The market erased early gains and closed flat on May 9. Sensex was down 15.62 points or 0.03% at 61,748.63, and the Nifty was down 3.10 points or 0.02% at 18,261.30. About 1,481 shares advanced, 1,762 shares declined, and 112 shares unchanged. Take a look at the top gainers and losers of the day:
2/11
UPL | CMP Rs 693.75 | Agri-input company UPL Ltd shares closed over 3 percent lower as many brokerages cut its earnings target after the firm posted a 43 percent on-year plunge in consolidated net profit for Q4FY23 to Rs 792 crore. The numbers were far below the Street estimate of Rs 1,718 crore. The major drag to the company's headline numbers were a one-time loss, weak operational metrics, and lower-than-expected growth in the Latin American market.
3/11
Kansai Nerolac| CMP Rs 397 | Kansai Nerolac shares opened 8 percent higher intraday and have closed over a percent down, a day after the company announced over five-fold growth in its Q4 consolidated net profit to Rs 96.24 crore. The company's revenue from operations surged 12.81 percent during the quarter under review to Rs 1,733.59 crore. On the operating front, margins expanded to 9.7 percent from 5.5 percent in the year-ago period.
4/11
Carborundum Universal | CMP Rs 1140.55 | Shares of Carborundum Universal Limited closed 2.5 percent higher after the company reported a 24 percent rise in post-tax profit and non-controlling interest at Rs 414 crore for the year ended March 31, 2023, compared with Rs 333 crore in the previous year. Consolidated revenue grew 40 percent to Rs 4,601 crore in FY23 as against Rs 3,290 crore in FY22.
5/11
Mankind Pharma | CMP Rs 1422.30 | Mankind Pharma debuts the street, with it stock getting a 31 percent uptick from the issue price of Rs 1,068. Brokerage firm Macquarie Research has also given Mankind Pharma an 'outperform' rating with a target price of Rs 1,400 per share.
6/11
Mahanagar Gas | CMP Rs 1073.90 | Shares of Mahanagar Gas Ltd (MGL) jumped 7.43 percent and also hit 52-week high at Rs 1,097.70 on the BSE today after the company reported net profit of Rs 268.8 crore in Q4FY23, more than double as compared to Rs 131.8 crore clocked in the corresponding period of the previous financial year.
7/11
Canara Bank | CMP Rs 302.85 | Shares of Canara Bank dropped by around 3.3 percent despite robust Q4 earnings. The lender reported a net profit of Rs 3,175 crore, up 90 percent from Rs 1,666 crore last year, while net interest income (NII), or the difference between interest earned and interest expended, grew 23 percent to Rs 8,616 crore for the Q4FY23 from Rs 7,006 crore a year back.
8/11
Apar Industries | CMP Rs 2,602.20 | Shares of Apar Industries have tanked over 14 percent so far, after a recent rise of 10 percent in stock price on May 8 following positive Q4 results. Analysts, however, say investors seem to be booking profits. In the past one year, the stock has risen over 300 percent and is up closer to 800 percent in the past three years.
9/11
Zomato | CMP Rs 60.95 | Shares of Zomato dipped 6 percent as Indian government-made ONDC (Open Network for Digital Commerce) poses competition threats. ONDC, which lets restaurants sell food directly to consumers without the need for a third party, is expected to increase e-commerce penetration in the country to 25 percent in the next two years.
10/11
Birlasoft | CMP Rs 308.25 | Shares of Birlasoft gained 7.12 percent after the company announced strong deal wins for the March quarter. Total deal wins grew by 23.8 percent to $286 million in March quarter as against $231 million in December.
11/11
Indiabulls Real Estate | CMP Rs 55.40 | Shares of Indiabulls Real Estate plunged nearly 20 percent after the company announced that the merger of Nam Estates Private Limited and Embassy One into the company has been withheld by the Chandigarh Bench of the National Company Law Tribunal (NCLT).
