Gainers and Losers: 10 stocks that moved the most on May 7
On May 7, the Sensex was down 383.69 points or 0.52 percent at 73,511.85, and the Nifty was down 140.20 points or 0.62 percent at 22,302.50. About 1042 shares advanced, 2633 shares declined, and 110 shares unchanged. Route Mobile | CMP Rs 1,454 | Shares of Route Mobile, a cloud communications platform service provider fell 5 percent after the company reported disappointing Q4 results. Net profit declined 9 percent on year to Rs 95.2 crore due to several one-off pressures. M&M Financial Services | CMP Rs 257.20 | M&M Financial Services declined 1 percent after the non-bank lender disappointed Street with its weak Q4FY24 performance. This prompted brokerages to trim guidance for FY25 and reduce target prices on the counter. HUL | CMP Rs 2,373.55 | Shares of HUL and other FMCG stocks surged in the session after commentary from companies after Q4 results have been positive. Despite largely unchanged demand trends from the previous quarter, volumes have seen a minor uptick, with rural recovery on the horizon. Cartrade Tech | CMP Rs 849.95 | Cartrade Tech stock surged 4 percent after the company’s net profit increased by 50 percent to Rs 22.5 crore in the March quarter. The company's revenue surged 51 percent YoY to Rs 145.27 crore, largely helped by OLX’s classifieds business. CG Power and Industrial Solutions | CMP Rs 572 | Shares of CG Power and Industrial Solutions zoomed 4 percent after the company’s surprise margin growth in the quarter. The company reported a Rs 2,190 crore in consolidated revenue for the quarter ended March, higher by 15 percent on an annual basis, largely in-line with estimates. The gross margins surged 110 basis points year-on-year to 31.3 percent, led by a better product mix, pricing power and exports mix. Lupin | CMP Rs 1,609 | Lupin stock plunged 4 percent after the company reported lower-than-expected rise in its Q4 FY24 net profit, dragged by a spike in raw material costs. The drugmaker recorded a net profit of Rs 359.4 crore for the March quarter, well below CNBC-TV18's estimate of Rs 498.9 crore. However, the bottomline was up 52 percent year-on-year from Rs 235.96 crore clocked in the same period last year. Titagarh Rail Systems | CMP Rs 1,086 | Shares of Titagarh Rail Systems jumped 5 percent after Morgan Stanley initiated coverage on Titagarh Rail Systems with an overweight rating, stating that the firm will be a beneficiary of the revival in the Indian railways. Morgan Stanley issued a target price of Rs 1,285 per share, which indicates an upside of around 24 percent. The valuation is 35x FY26 PE, which Morgan Stanley said is fair given strong earnings visibility and improving return ratios. Marico | CMP Rs 582.10 | Marico stock rallied 10 percent after brokerages increased ratings for the stock after brokerages increased rating on the stock due to turn around in demand and management’s measures to increase volumes and market share. Nuvama has upgraded the stock to 'buy' while City raised its target price on the stock. Motilal has a 'buy' rating on the stock with a target price of Rs 625 per share. Godrej Consumer Products | CMP Rs 1,320 | Shares of Godrej Consumer Products rose 5 percent after the company’s fourth quarter earnings exceeded expectations, as increasing domestic volumes and better-than-expected international growth kept brokerages bullish. The consumer staples player reported a total revenue of Rs 3,385.61 crore, rising 6 percent from Rs 3,200.16 crore a year ago. SRF | CMP Rs 2,400 | SRF stock nosdived 7 percent as the company reported a 24 percent year-on-year (YoY) decline in consolidated net profit at Rs 422 crore for the fourth quarter of FY24. Its revenue from operations dipped 5 percent to Rs 3570 crore. During the quarter, the Specialty Chemicals Business continued to face headwinds due to inventory rationalization by certain key customers, while performing better than Q3FY24, the company said.
2024-05-07T11:17:14Z
Taking Stock | Sensex falls 380 pts, Nifty barely holds 22,300 level; real estate, metal stocks bleed
India's benchmark indices Sensex and Nifty 50 closed lower on May 7 as selling prevailed across the board amid disappointing Q4 earnings, thus causing a dent in market confidence near record highs. On Tuesday, Sensex closed 383 points (0.5%) lower at 73,511.85, while the Nifty 50 fell 141 points (0.6%) to 22,301.50. Of the total stocks, 840 advanced, 2,441 declined, and 82 remained unchanged. This downturn was compounded by ongoing uninspiring...
2024-05-07T10:51:48Z