Gainers & Losers: 10 stocks that moved the most on May 8

On May 8, the Indian equity benchmarks made their best single-day gains in a month, with the Sensex closing 709.96 points higher at 61,764, and the Nifty ending 195 points higher at 18,264.40. About 2,015 shares advanced, 1,539 declined and 155 were unchanged. Take a look at the top gainers and the losers of the day:

Equitas Small Finance Bank | CMP: Rs 75.80 | Shares of Equitas Small Finance Bank rallied 4 percent after the company earned its highest net profit in a quarter at Rs 190 crore with 59 percent year-on-year (YoY) growth from Rs 119.50 crore in Q4 FY22.

TCNS Clothing | CMP Rs: 416.75 | The share tanked 20 percent on heavy selling on the merger plan outlined by the company. Under the merger scheme with Aditya Birla Fashion & Retail, public shareholders of TCNS will receive 11 shares of ABFRL for every 6 shares held in TCNS. As of May 5 close, before the merger was announced, TCNS Clothing’s closing price was Rs 514 a share. Six shares at that price mean Rs 3,084. On the other hand, 11 shares of ABFRL amount to Rs 2,353, which didn’t go down well with investors. 

IndusInd Bank | CMP: Rs 1,128.30 | Shares of IndusInd Bank shrugged off nervousness following the resignation of chief risk officer’s resignation and rallied 5 percent on May 8 as brokerages reaffirmed their faith in the bank.

JSW Energy | CMP Rs 263.35 | Shares of JSW Energy gained 1.11 percent after the company said that step-down subsidiary JSW Renew Energy Three had signed a Power Purchase Agreement for 25 years with Solar Energy Corporation of India. The agreement is for 300-MW ISTS-connected wind power projects awarded under SECI Tranche-XII.

Capacite Infra | CMP Rs 138.25 | Shares of Capacite Infraprojects gained more than 7 percent as the company has bagged orders worth Rs 224 crore from Raymond’s realty division for a residential project.

Marico | CMP Rs 531.25 | Marico shares gained over 7 percent after the homegrown FMCG player managed to beat analysts’ expectations on topline and bottomline performance in the March quarter led by Parachute. The company’s consolidated net profit jumped 18.6 percent to Rs 305 crore for Q4FY23 quarter against Rs 257 crore in the year-ago period.

Coal India | CMP Rs 233 | Coal India shares closed 2 percent lower as a lower quarterly profit resulted in investors selling shares even though the company reported its highest sales in the March quarter and also in FY23. Coal India reported a consolidated net profit of Rs 5,527.62 crore in the March quarter, down 17.7 percent from a year ago. Consolidated revenue for the quarter stood at Rs 35,161.44 crore, up 17.3 percent year on year.

One97 Communications | CMP Rs 724 | Shares of Paytm parent gained 5 percent after the digital payments company’s revenue surged 52 percent to Rs 2,335 crore in the March quarter (Q4) while its losses narrowed to Rs 168 crore from Rs 763 crore in the year-ago period.

Tatva Chintan Pharma | CMP: Rs 1,672 | Shares of Tatva Chintan Pharma Chem slipped 8 percent as the company’s quarterly performance disappointed investors. Consolidated EBITDA dropped 26 percent YoY to Rs 16.27 crore, while the operating margin contracted sharply to 13.07 percent from 22.32 percent a year ago.

Apar Industries | CMP: Rs 3064 | Shares of Apar Industries surged over 4 percent after the company posted a stellar set of earnings for the fourth quarter. The company’s bottomline grew 192 percent to Rs 242.7 crore in Q4. The topline also recorded a 35.7 percent jump to Rs 4,088.60 crore from Rs 3,012.40 crore in the same quarter last year.