Market Movers: Top 10 Gainers and Losers on May 13

by | May 13, 2024 | 0 comments

At the market’s close, the Sensex had risen by 111 points to 72,776, and the Nifty increased by 49 points, or 0.2 percent, to 22,104. The trading session ended with 1,537 shares advancing, 2,260 shares declining, and 130 shares remaining unchanged.

On the 13th of May, the stock market in India experienced some recovery as from their morning lows Sensex and Nifty50 slightly gained in day’s return after almost falling by 1% each. While Sensex closed at 72,776 points with a gain of 111, Nifty went up by 0.2% to reach 22,104 (49 points). There were a total of 1537 advances versus declines of 2260 and unchanged positions which were only but one hundred and thirty.

Tata Motors Ltd

Concerns over potential demand risks for JLR plus slow start expected in FY25 on account of a dip in domestic passenger vehicle demand amidst ongoing elections saw shares of Tata Motors Ltd., a leader in the Indian EV market, drop by eight percent.

Bank of India

While revenues for Q4FY24 contracted marginally YoY by twenty three basis points, Bank of India shares fell more than ten percent.

ABB India Ltd

Earnings that topped forecasts for the March quarter propelled ABB India Ltd.’s stock to an all-time high; advancing its share price eleven percent. As a result, its net profit was boosted by higher income levels as it rose eighty two percent YoY to INR four sixty seven crore.

Syrma SGS Tech

Despite an increase in net profit by six percent YoY to Rs four hundred fifty-two point fourteen crores during the period under review, Syrma SGS Tech suffered a decrease in EBITDA margins down two hundred twenty-two bps due to rising commodity prices and being an automotive business driven towards high volume products.

BEML

BEML stocks jumped up sharply at approximately fourteen point five per cent when consolidated net profits shot up by sixty two point nine per cent yoy up to Rs two hundred fifty-six point eight crore for the quarter ended March twenty-fourteen mainly on strong operating performance. Operations revenue increased at nine per cent yoy to Rs fifteen thirteen crore.

Dr Lal Path Labs

A positive management outlook combined with robust earnings during Q4FY24 marked the recovery of Dr Lal PathLabs shares which managed to rise by six percent. This saw its Q4Fy24 net profit for the diagnostic chain go up 49% YoY and total 84.5 cr, an increment from 56.7 cr the previous year.

Polycab

According to its March quarter results, Polycab India posted twenty-nine percent growth in net profit (Rs553 crore), as well as sales worth Rs5592 crore representing a 29% increase over last year’s.

Piramal Pharma

Piramal Pharma climbed two point seven per cent since its comprehensive performance in the January-March quarter was appreciated by investors. Net profits for this period were Rs one thirty-two crore compared to Rs fifty crores last year, although this included an exceptional item of Rs thirty-one crores.

Sharda Cropchem

Sharda Cropchem outperformed forecasts for January – March’24; hence, it registered more than a seven per cent increase of shares at two hundred ninety-five INR each. Despite declining in Q4 FY24 to INR one forty three crores or by twenty eight percent yoy, PAT exceeded forecasted values that lay at sixty three crore rupees only.

Advanced Enzyme

Following from a report that there was a fall of seven percent (to INR 29.90 Crore) in adjusted EPS subsidiary Bhagwan Marine and Enventure Global Technologies Inc. on consolidated basis during Jan-Mar’13, pertaining to increased finance charges and depreciation costs according to earlier reports; Advanced Enzyme’s stock closed slightly down by 2.3%.

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