Gainers and Losers: 10 stocks that moved the most on May 6
On May 6, the Sensex was up 17.39 points or 0.02 percent at 73,895.54, and the Nifty was down 33.10 points or 0.15 percent at 22,442.70. About 1,213 shares advanced, 2,560 shares declined, and 159 shares unchanged. Anup Engineering | CMP Rs 2,070 | Shares of Anup Engineering zoomed 12 percent after the company recorded robust earnings in Q4. Company’s net profit for Q4 surged 47 percent to Rs 28.6 crore. Revenue also rose 9 percent YoY to Rs 156.9 crore in the quarter gone by, aided by a strong order backlog, which was up 62 percent. Brokerage firm ICICI Securities believes the robust order backlog of the company is ensuring strong growth prospects for the company going ahead. Zen Technologies | CMP Rs 1,033.90 | Zen Technologies stock fell 5 percent and got locked in lower circuit despite the company reported robust results in Q4. Zen Technologies Chairman and Managing Director Ashok Atlur told CNBCTV18 that company may see a decline in EBITDA margin for the full financial year. Atluri expects EBITDA margin at 35 percent for the current financial year, compared to the 43 percent margin it reported for the full year. Deepak Nitrite | CMP Rs 2,558.35 | Shares of Deepak Nitrite surged 4 percent after global brokerage Morgan Stanley double-upgraded the stock to "overweight" from its earlier rating of "underweight." The brokerage also raised the target price on the specialty chemicals stock to Rs 2,985, implying a 22 percent upside from the previous closing price. The price target has been raised to reflect a higher multiple for the base business and a higher medium-term capex. Indusind Bank | CMP Rs 1,497 | Indusind Bank stock gained nearly 1 percent after reports suggested that promoter company IndusInd International Holding (IIHL) will raise its stake in the lender to 26 percent from 16 percent in multiple tranches over the next two weeks. Tata Technologies | CMP Rs 1,045.50 | Shares of Tata Technologies plunged 3 percent after the company reported underwhelming results in Q4. The company's net profit for the March quarter fell around 8 percent on a sequential basis to Rs 157 crore as against Rs 170 crore a quarter ago. The drag on the bottom line was on account of muted revenue growth and lower other income due to a one-time deferred tax asset write back. Britannia Industries | CMP Rs 5,057.90 | Britannia Industries stock jumped 6 percent even after the company’s net profit fell more than expected. The company saw some market share revival as a result of the pricing action taken to remain competitive and higher investments in brands supported by distribution expansion. Paytm | CMP Rs 351.40 | Shares of Paytm fell 5 percent and hit the lower circuit after the digital payments and financial services firm announced the resignation of its COO and president, Bhavesh Gupta, via a regulatory filing over the weekend. CEAT | CMP Rs 2,495 | CEAT’s stock fell nearly 2 percent extending its losses from Friday. The company’s Q4 net profits fell due to higher rubber prices. Kotak Institutional Equities slashed target price on CEAT stock to Rs 1,850, saying that the company's margin could decline in the coming quarters. The price target implies a downside of 27.2 percent from the last close of Rs 2,544 on May 3. The brokerage has maintained a 'sell' on the counter. Force Motors | CMP Rs 9,749.95 | Shares of Force Motors gained 2 percent a day after the company announced healthy sales in the month of April. Force Motors’ small and light commercial vehicle and utility vehicles sales surged over 36 percent to 2,268 units in April, the company stated in a regulatory filing. Blue Dart | CMP Rs 7,195 | Blue Dart stock rallied 5 percent after the company’s in-line results for the quarter ended March 2024 left analysts impressed, prompting them to retain a 'buy' rating on the stock. Blue Dart is the market leader in India’s air express market with a 54 percent plus share and analysts believe that the company's structural turnaround story is intact and current transitory issues are on the brink of fading out.
2024-05-06T10:44:04Z
