Gainers and Losers: 10 stocks that moved the most on January 23

The market extended previous sessions losses on widespread selling as banks came under pressure yet again with HDFC Bank leading the fall. But it was Zee that hogged the headlines, tanking 30 percent. The Sensex closed 1,053.10 points, or 1.47 percent, down at 70,370.55, and the Nifty ended 333 points, or 1.54 percent, lower at 21,238.80. About 1,017 shares advanced, 2,771 declined and 133 were unchanged.

Zee Entertainment | CMP Rs 160.9 | Zee Entertainment fell more than 30.47 percent as it hit a series of lower circuits after Japan’s Sony Pictures’ Indian arm scrapped its $10-billion merger with the Indian media giant. A number of brokerages also downgraded the stock.

VST Industries | CMP Rs 3,499.85 | VST Industries fell 3.74 percent after the company’s net profit tanked 32 percent YoY in the December quarter to Rs 53.72 crore. Its revenues grew 6 percent YoY to Rs 468.42 crore.

Finolex Industries | CMP Rs 224.9 | The stock fell 3.91 percent after the company’s Q3 results disappointed the markets. Its net profit grew 24 percent YoY to Rs 89.21 crore and sales revenue fell 9.3 percent to Rs 1,019.69 crore in the quarter.

Kotak Mahindra Bank | CMP Rs 1,783.85 | The stock fell 1.27 percent after the bank’s Q3 results missed market estimates. The bank reported lower-than-expected 7.6 percent increase in net profit at Rs 3,005 crore for the December quarter. The market had pegged net profit at Rs 3,243 crore.

Oberoi Realty | CMP Rs 1,367 | Shares of Oberoi Realty slumped 9.12 percent after the real estate developer’s net profit declined 49 percent to Rs 360 crore in the December quarter. Revenue fell 35.3 percent to Rs 1,054 crore.

Cipla | CMP Rs 1,407.95 | The stock jumped 6.97 percent after the company reported strong performance in Q3. Net profit grew 32.7 percent to Rs 1049 crore. Revenue also went up by 14.2 percent to Rs 6,544 crore.

Persistent Systems | CMP Rs 8,280.05 | Shares of Persistent Systems surged 4.53 percent after reporting healthy Q3 earnings. The company reported a 20 percent growth in net profit at Rs 286.1 crore. This growth was delivered by a strong order book, the company said.

Hero Motocorp | CMP Rs 4432.85 | Hero Motocorp gained 3 percent intraday after the company announced the launch of two new bikes, the Xtreme 125R and a special collector’s edition Hero Forever for its 40th anniversary. The stock pared some of the gains to close 0.71 percent higher.

ICICI Bank | CMP Rs 1,027.9 | Shares of ICICI Bank surged 1.9 percent, continuing the winning streak for the second consecutive session after the private lender reported a 23.5 percent increase in net profit at Rs 10,271.54 crore in Q3.

Elecon Engineering | CMP Rs 1,010.1 | Shares of Elecon Engineering fell 6.11 percent despite the company winning a Rs 82-crore project from ArcelorMittal Nippon Steel India. The contract is to be executed in 10 months.