Gainers and Losers: 10 stocks that moved the most on May 8
On May 8, the Sensex was down 45.46 points or 0.06 percent at 73,466.39, and the Nifty ended flat at 22,302.50. About 1,982 shares advanced, 1,659 shares declined, and 140 shares unchanged. Bharat Forge | CMP Rs 1,438 | Shares of Bharat Forge rose nearly 16 percent after the company reported robust Q4 earnings and give positive commentary on earnings for FY25. The company’s net profits rose 59.3 percent YoY to Rs 389.6 crore. Bharat Forge Chairman and MD Baba Kalyani said “At a consolidated level, we expect FY25 to be a year of growth driven by defence business, industrial casting business and continued improvement in capacity utilisation of the overseas business. The turnaround of the overseas business coupled with margin improvement in other business verticals should result in strong growth in profitability in FY25”. Paytm | CMP Rs 317.15 | Paytm stock fell 5 percent and hit lower circuit after reports indicated that Aditya Birla Finance, one of the fintech firm's key lending partners, invoked loan guarantees due to repayment defaults from customers. Other lenders such as Piramal Finance and Clix Capital also pulled the plug on their partnerships with Paytm after RBI barred Paytm Payments Bank from operations, reports said. The stock hit its all time low level during the session as well. Sonata Software | CMP Rs 544.50 | Shares of Sonata Software plunged 14 percent after the company posted weak earnings in the fourth quarter. The company’s net profit fell 3 percent YoY to Rs 110.4 crore. In QoQ basis, revenue fell by 2 percent in Constant Currency basis. Analysts said this was caused by Quant seasonality, delay in large deal closure and delay in deal ramp-up. Pidilite Industries | CMP Rs 2,814.55 | Pidilite Industries stock slumped 4 percent after the company reported a mix numbers in the quarter that ended in March. The company's consolidated net profit for the quarter rose 19.3 percent on-year to Rs 364 crore while revenue grew 7.9 percent to Rs 2,902 crore, missing street estimates. Voltas | CMP Rs 1,323.15 | Shares of Voltas fell 4 percent after its net profit for March quarter fell by 19 percent to Rs 116 crore. The EBITDA margin came in at 4.5 percent, lower by 280 basis points on-year. Morgan Stanley said that the AC segment's margins disappointed, as the project business saw continued losses. The brokerage retained its equal-weight call, with a price target of Rs 1,160 per share. IRB Infrastructure Developers | CMP Rs 67.80 | IRB Infrastructure stock gained 2 percent after the company’s net profit jumped by 45 percent YoY to Rs 188.9 crore driven by strong topline and other income. Revenue from operations grew by 27.2 percent YoY to Rs 2,061.2 crore for the quarter. Dr Reddy’s Laboratories | CMP Rs 6,053 | Shares of Dr Reddy’s Laboratories fell 3 percent as brokerages were left disappointed with lack of near term growth triggers for the company. While Dr Reddy's remains focused on biosimilars and initiatives to strengthen its business in key markets, brokerages forecasted its benefits to play out only after FY25. Dr Reddy’s Laboratories recorded a net profit of Rs 1,307 crore for the March quarter of FY24, up 36 percent from the year-ago period and also slightly above the estimated Rs 1,291 crore. SRF | CMP Rs 2,340 | SRF stock fell 3 percent after the company posted a drop in profit for the fifth quarter in a row, hurt by sustained weak demand in its mainstay chemicals business. SRF's Q4 consolidated net profit fell 24 percent on-year to Rs 422 crore, and its revenue from operations dipped 5 percent YoY to Rs 3,570 crore during the quarter under review. Indraprastha Gas | CMP Rs 452.20 | Shares of Indraprastha Gas gained 3 percent after the company reported a nine percent YoY increase in its consolidated net profit at Rs 433.29 crore for the fourth quarter of fiscal year 2023-24. The company’s total volume stood at 8.73 mmscmd (million metric standard cubic meters per day) in the quarter ending March 31, reporting a growth of six percent compared to last year. Hero Motocorp | CMP Rs 4,588 | Hero Motocorp stock jumped 2 percent after the company declared an 18 percent YoY rise in net profit to Rs 1,016 crore on the back of strong volume growth, newer product mix, softening commodity costs, and higher average selling prices (ASPs). The two-wheeler manufacturer's revenue rose 15 percent to Rs 9,519 crore in Q4FY24.
2024-05-08T11:21:11Z
West Nile fever spreads in Kerala: Early warning signs and symptoms to watch out for
West Nile fever outbreak in Kerala's Malappuram, Kozhikode, and Thrissur prompts State Health Department's alert for pre-monsoon cleaning. Virus transmitted by Culex mosquitoes, causing flu-like symptoms prevalent in Africa, Europe, and North America. West Nile Virus, which is commonly found in Africa, Europe, the Middle East, North America and West Asia, was first isolated in a woman in the West Nile district of Uganda in 1937.
2024-05-08T10:55:41Z
