Gainers and Losers: 10 stocks that moved the most on May 2
On May 2, the Sensex was up 128.33 points or 0.17 percent at 74,611.11, and the Nifty was up 43.35 points or 0.19 percent at 22,648.20. About 1,925 shares advanced, while 1,772 shares declined and 115 shares were unchanged. Ashok Leyland | CMP Rs 201.40 | Shares of Ashok Leyland surged 4 percent after the company's combined sales of M&HCV and LCV units (including exports) amounted to 14,271 units, marking a 10 percent increase from the same period last year. The stock also hit its all-time high in the session. PFC | CMP Rs 467.50 | Power Finance Corporation stock rallied six percent, extending the stock’s gains to a fourth straight session. Analysts said the robust funding potential in the renewable energy space due to assets like airports, roads, data centres, and EV charging stations, along with a strong order book across firms, will also be catalysts for the stock. Bajaj Auto | CMP Rs 9,086 | Shares of Bajaj Auto advanced 2 percent after the company posted robust monthly sales in April. The company reported 17 percent year-on-year rise in sales to 3,88,256 units in April. As for two-wheelers, April sales rose 19 percent YoY to 3,41,789 units. Both domestic and exports sales in this segment also saw healthy growth of 19 and 18 percent, respectively. Newgen Software Technologies | CMP Rs 986 | Newgen Software Technologies stock zoomed 5 percent, extending its upward trend for the eighth consecutive session. The stock gained after the company posted strong quarterly earnings and the management gave upbeat growth outlook. In the January-March period, the software company's net profit grew by 54.2 percent sequentially to Rs 105.3 crore, surpassing the Rs 100 crore- mark for the first time ever. Maruti Suzuki | CMP Rs 12,771 | Shares of Maruti Suzuki fell over 1 percent intraday after the company reported its mini cars and compact car sales witnessed a notable decline in April. Sales of mini segment cars, comprising Alto and S-Presso, declined to 11,519 units as against 14,110 units in April 2023. Compact cars, essentially Baleno, Dzire, Celerio and Ignis, also slumped 24 percent to 56,953 in April from the year-ago period. The stock regained from the lows and closed 0.36 percent in the red. Godrej Industries | CMP Rs 892 | Godrej Industries stock fell 7 percent after the founding family reached an agreement to split the 127-year old conglomerate into two branches. The family has decided to restructure its shareholding within the conglomerate, dividing operations into two distinct entities: Godrej Enterprises and Godrej Industries. Kotak Mahindra Bank | CMP Rs 1,578 | Shares of Kotak Mahindra Bank fell 2 percent after ts joint managing director, KVS Manian, resigned with immediate effect after 29 years of service. Brokerages have lowered their target price on Kotak Mahindra Bank after the news. REC | CMP Rs 552 | REC stock surged 8 percent after the company reported strong earnings for the quarter ended March 2024. Its consolidated net profit jumped 33 percent on year to Rs 4,079 crore, helped by healthy growth in core income and a provision write-back. Max Estates | CMP Rs 352.90 | Shares of Max Estates surged 19.99 percent after the company signed a binding agreement with New York Life Insurance Co. (NYL) for investments of Rs 388 crore in two subsidiaries of the real estate developer. BHEL | CMP Rs 293.30 | BHEL stock rose 4 percent after the state-run company entered into a Strategic Partnership Agreement (SPA) for the railway signalling business with HIMA Middle East FZE, Dubai, a wholly-owned subsidiary of HIMA Paul Hildebrandt GmbH, Germany.
2024-05-02T10:44:00Z
