Gainers and Losers: 10 stocks that moved the most on April 22
The benchmarks ended higher for a second straight session on April 22 on strong global cues as West Asia tensions eased. The Sensex was up 560.29 points, or 0.77 percent, at 73,648.62, and the Nifty was up 189.40 points, or 0.86 percent, at 22,336.40. About 2,525 shares advanced, 1,233 declined and 149 were unchanged. Welspun Corp | CMP Rs 551 | Shares of Welspun Corp gained 4 percent after the firm announced it won Rs Rs 872-crore orders since its last disclosure on March 22. The company won multiple line pipe orders in the US and India. Persistent Systems | CMP Rs 3,510 | The Persistent Systems stock plunged over 9 percent after the company gave a flat margin guidance for FY25 in Q4 results. Persistent Systems reported a 25.36 percent rise in net profit at Rs 315.3 crore year-on-year for the fourth quarter. Honasa Consumer | CMP Rs 406 | Shares of Mamaearth parent Honasa Consumer rallied 4 percent after its skincare unit Derma Co achieved an annual revenue rate (ARR) of Rs 500 crore. The Derma Co had earlier crossed an ARR of Rs 350 crore in September and also achieved an EBITDA positive status in the December quarter. Zydus Lifesciences | CMP Rs 959.65 | The Zydus Lifesciences stock rose 4 percent after the pharma company launched the generic version of bladder control drug Mirabegron in the US. Mirabegron is used in the treatment of overactive bladder (OAB) with symptoms of urge urinary incontinence, urgency and urinary frequency. NTPC | CMP Rs 344.25 | Shares of NTPC declined over a percent after the company's wholly owned subsidiary signed a Memorandum of Understanding (MoU) with Indus Towers. “NTPC Green Energy Limited (NGEL) and Indus Towers Limited (ITL) on April 18 signed an MoU to address the need for pacing green energy objectives and the GOI’s efforts towards carbon neutral economy," company said. The MoU is to explore a joint development of grid connected renewable energy based power projects including solar, wind, energy storage etc. and solutions thereof. Hindustan Copper | CMP Rs 380.70 | The Hindustan Copper stock surged 4 percent after the metal edged closer to $10,000 a ton on expectations of a recovering global economy lifting the demand for industrial materials. Metals have risen sharply recently buoyed by signs of improvement in manufacturing activity in the US and China, the world’s two largest economies, and stubborn inflation, attracting renewed wager on commodities. Gujarat State Petronet | CMP Rs 305.45 | Shares of Gujarat State Petronet nosedived 20 percent after the Petroleum and Natural Gas Regulatory Board (PNGRB) slashed tariffs for the company's high pressure (HP) network by 47 percent. The approved tariff of Rs 18.1/mmbtu effective from May 1, is not just 47 percent lower than the existing tariff (Rs 34/mmbtu) but also a third of the tariff sought (Rs 51-54/mmmbtu) by GSPL. Doms Industries | CMP Rs 1,830 | The Doms Industries stock advanced over 5 percent after BNP Paribas initiated an "outperform" rating on the company and gave a target price of Rs 1950, up 15 percent from its current market price. BNP Paribas commended Doms for its robust 21 percent organic revenue growth during FY18-23, surpassing peers in stationery and FMCG sectors. Voltas | CMP Rs 1,379.50 | Shares of Voltas jumped 5 percent after UBS upgraded the stock recommendation to 'buy' from 'neutral' on robust growth prospects. The international brokerage more than doubled the price target from Rs 885 to Rs 1,800, indicating a massive upside potential of over 38 percent of Rs 1,300. IREDA | CMP Rs 170.95 | The IREDA stock surged 6 percent after the company reported a 33 percent YoY increase in net profit at Rs 337 crore, while the net interest income grew 35 percent to Rs 481.4 crore in the March quarter of FY24.
2024-04-22T10:50:53Z
