Gainers & Losers: 10 Stocks that moved the most on May 24
The Sensex was down 208.01 points or 0.34 percent at 61,773.78, and the Nifty was down 62.60 points or 0.34 percent at 18,285.40. About 1,643 shares advanced, 1,727 shares declined, and 125 shares unchanged.
The Indian equity market snapped a 3-day winning streak and ended lower in yet another volatile session on May 24. The Sensex was down 208.01 points or 0.34 percent at 61,773.78, and the Nifty fell 62.60 points or 0.34 percent at 18,285.40. About 1,643 shares advanced, 1,727 shares declined, and 125 shares unchanged. Let's take a look at the gainers and losers of the day:
2/11
Mahindra CIE Automotive Ltd | CMP Rs 473.45 | Shares of Mahindra CIE Automotive Ltd surged nearly 4 percent after a huge block deal, in which around 12.2 million shares or 3.2 percent stake of the company changed hands in bunch of trades. Post this transaction, M&M’s stake in the company will stand reduced to Nil.
3/11
Ashok Leyland | CMP Rs 151.50 | Shares of Ashok Leyland were marginally down after the company posted its Q4 earnings result. The commercial vehicles maker reported a 17 percent drop in standalone net profit at Rs 751 crore for the quarter ended March 31, 2023 compared to Rs 901 crore in the year-ago period. Total revenue from operations increased nearly 33 percent on-year to Rs 11,626 crore as against Rs 8,744 crore in the same quarter last fiscal.
4/11
Linde India |CMP Rs 3999.95 | Shares of Linde India jumped nearly 3 percent following strong March quarter numbers reported by the industrial gas producer. The company's net consolidated profit zoomed 50 percent during the quarter to Rs 99.25 crore from Rs 65.97 crore in the same quarter last year. This comes on an 18 percent growth in revenue from operations to Rs 630 crore.
5/11
Metro Brands| CMP Rs 928.80 | Shares of Metro Brands closed 5 percent higher after robust Q4 results. On a standalone quarterly basis, the speciality footwear retailer reported net sales at Rs 514.03 crore for the March quarter of FY23, up 29.85 percent from Rs. 395.87 crore a year ago. The company’s quarterly net profit jumped 20.83 percent to Rs. 81.61 crore from Rs. 67.54 crore, whereas EBITDA was up 21.14 percent to Rs 171.57 crore from Rs. 141.63 crore.
6/11
Dishman Carbogen Amcis| CMP Rs 114.35 |Shares of Dishman Carbogen Amcis Ltd tumbled over 12 percent after the company reported a widening of its consolidated loss to Rs 70.72 crore for the quarter ended March. The active ingredients manufacturer for the pharma industry had posted a net loss of Rs 44.6 crore in Q4 FY22.
7/11
SeQuent Scientific | CMP Rs 73.85 |Shares of SeQuent Scientific declined 4.46 percent after the animal health company posted a net loss of Rs 92.43 crore for the quarter ended March. The Carlyle Group-promoted firm had clocked a net profit of Rs 9.90 crore in the year-ago period.
8/11
Biocon | CMP Rs 242.95 | Shares of Biocon jumped nearly 8 percent in early trade and closed marginally up, buoyed by the drugmaker's robust fourth-quarter earnings. The drugmaker on May 24 reported a 31.3 percent rise in fourth-quarter net profit to Rs 313.20 crore, surpassing estimates of Rs 234 crore. A similar beat was seen in the revenue front as the topline recorded a 56.7 percent surge to Rs 3,773.9 crore, also topping an estimate of Rs 3,611.7 crore.
9/11
Orient Bell | CMP Rs 549.95 |Shares of Orient Bell declined nearly 10 percent, a day after the company posted disappointing Q4 results. Orient Bell reported a 61.62 percent year-on-year (YoY) decline in its net consolidated profit during the January-March quarter of FY23. Its net profit for the quarter ended March 31, 2023 stood at Rs 6.30 crore as compared to Rs 16.5 crore a year ago.
10/11
Sudarshan Chemical | CMP 437 |Shares of Sudarshan Chemical Industries climbed over 11 percent, a day after the company posted strong sequential growth for the quarter ended March. The dye maker reported a 30 percent on-quarter rise in revenue at Rs 692 crore on the back of strong growth in pigment exports market and demand revival. On an on-year basis, revenue was up 10 percent.
11/11
Galaxy Surfactants| CMP Rs 2520| Galaxy Surfactant shares dropped nearly 3 percent, following the company's disappointing Q4 earnings results. The stock fell as much as 6.66 percent intraday, falling the most since August end 2020. The manufacturer of performance surfactants and specialty care products, reported an 8 percent year-on-year (YoY) decline in net profit and a 14.8 percent sequential decline to Rs 90.5 crore in Q4FY23. In the corresponding quarter of previous fiscal year, the company had reported net profit of Rs 98.4 crore.
