Gainers & Losers: 10 stocks that moved the most on May 12

The Indian equity benchmarks recouped early losses to close a tad higher on May 12, with auto and financial names leading the gains. The Sensex closed 123.38 points or 0.20 percent higher at 62,027.90, and the Nifty was up 17.80 points or 0.10 percent at 18,314.80. About 1,650 shares advanced, 1,859 declined, and 129 remained unchanged.

Eicher Motors | CMP Rs 199.40 | Shares of Eicher Motors Ltd ended nearly 6 percent higher, a day after the company reported better-than-expected earnings for the March quarter despite a two-wheeler downturn. The firm reported a consolidated net profit of Rs 905.58 crore, up 48.42 percent from Rs 610.14 crore in the year-ago quarter.

Zee Entertainment Enterprises | CMP Rs 186.20 |Zee ended 3 percent lower as the proposed merger with Sony hit yet another obstacle. SEBI has instructed BSE and NSE to inform the NCLT of a recent order against Essel Group’s Shirpur Gold Refinery. The NCLT is hearing the Zee-Sony merger case, which has been facing legal hurdles from various creditors seeking repayment from Zee’s promoters.

Ujjivan Small Finance Bank | CMP Rs 30.65 |Shares of Ujjivan Small Finance Bank (USFB) surged 5 percent as investors cheered the lender’s growth in loan book, better asset quality, and strong collection efficiency in the March quarter. Disbursements stood at Rs 6,001 crore for Q4 FY23 and Rs 20,037 crore for FY23. Gross loan book came in at Rs 24,085, crore up 33 percent YoY and 10 percent QoQ. The lender saw a collection efficiency of around 100 percent in March 2023.

Intellect Design Area | CMP Rs 64.95 |Intellect Design Arena zoomed 14 percent after the company reported a 21 percent YoY (year-on-year) increase in its FY23 total revenue to Rs 2,246 crore, against Rs 1,856 crore reported in the corresponding period of the last fiscal year. This is the first time the fintech company crossed the Rs 2,000-crore revenue mark in a financial year.

South Indian Bank | CMP Rs 17.65 | Shares of South Indian Bank Ltd gained over 8 percent on robust Q4 results. The private sector lender reported a 22.74 percent increase in net profit at Rs 333.89 crore on May 11 for the March 2023 quarter. The bank’s net profit was Rs 272.04 crore in the year-ago period.

BSE | CMP Rs 549.70 | Shares of BSE Ltd closed around 2 percent higher after the company reported a 24 percent jump in net profit to Rs 88.61 crore for the three months ended March. The exchange posted a net profit of Rs 71.52 crore in the same quarter of the preceding fiscal.

Zensar Technologies | CMP Rs 339.50 | Shares of Zensar Technologies climbed 10 percent with heavy volumes and hit the 52-week high of Rs 343.5.  It did come off the high but still ended 9 percent up from the previous close, reacting to the March quarter numbers. The company reported a net profit of Rs 151.80 crore, up 43.75% from Rs. 105.60 crore in March 2022.

The Indian Hotels Co | CMP Rs 357.60 | Shares of Indian Hotels slumped over 2 percent, as investors booked profits. The scrip has generated returns of more than 60 percent in the past year and 450 percent over three years. Despite an upbeat outlook from Indian Hotels, Nuvama Institutional Equities says the recent run-up leaves limited upside potential, it has downgraded the stock to ‘hold’ from ‘buy’.

Siemens | CMP Rs 3891.50 | Shares of Siemens rose 2.5 percent with analysts being bullish on the company’s stock after Q4 results. Analysts believe the stock can see further gains of around 14 percent. Consolidated revenue rose 28 percent to Rs 4,857.8 crore in the quarter ended March, while EBITDA was up 32 percent at Rs 621.2 crore.

Asian Paints | CMP Rs 3131.10 | Asian Paints closed marginally lower from the previous day. The paint maker on May 11 reported a better-than-expected set of numbers for the March quarter, which got a mixed reaction from brokerages concerned about growing competition in the sector. The company’s year-on-year net profit was 44 percent higher at Rs 1,258 crore against an estimate of Rs 1,160 crore.