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

The Indian equity benchmarks ended over 1.3 percent lower on October 23 on weak global cues as surging US bond yields hurt markets across the world. The Sensex ended 825.74 points or 1.26 percent at 64,571.88, and the Nifty was down 260.90 points or 1.34 percent at 19,281.80.
About 620 shares advanced, 3,088 declined and 143 remained unchanged.

CreditAccess Grameen | CMP Rs 1493 | The share surged 7.44 percent on robust Q2 earnings and positive FY24 guidance revision. The company’s net profit nearly doubled to Rs 347 crore in the September quarter, driven by higher loan sales and resultant income. Total income surged 53 percent on-year on the back of a surge in net interest income (NII).

IPCA Laboratories | CMP Rs 995 | Shares of Ipca Laboratories surged around 6 percent as the US Food and Drug Administration’s Voluntary Action Indicated (VAI) classification for its Ratlam unit came as a positive surprise to the Street. The stock also hit its 52-week high in the bourses today.

Rossari Biotech | CMP Rs 802.55 | Rossari Biotech closed 2.31 percent lower on profit booking after the company over the weekend reported a 37 percent year-on-year (YoY) increase in net profit in the July-to-September quarter.

Amber Enterprises | CMP Rs 2755 | Shares of Amber Enterprises tumbled 9.32 percent after the company’s net loss widened to Rs 5.6 crore in the September quarter (Q2FY24) against a loss of Rs 2.2 crore a year ago.

Aditya Birla Fashion | CMP Rs 213.5 | Shares of Aditya Birla Fashion and Retail slipped 6.89 percent after subsidiary Aditya Birla Digital Fashion Ventures entered into a shareholder agreement and a share subscription agreement for buying a 51 percent stake in Styleverse Lifestyle for Rs 155 crore.

Paras Defence and Space Technologies | CMP Rs 692 | Paras Defence fell 6.4 percent after its board approved to incorporate an associate company by entering into a joint venture (JV) agreement with the US-based MICRO-LAM. Paras will hold a 40 percent stake in the JV.

Kfin Tech | CMP Rs 452.7 | Kfin Tech squandered the day’s gain to close 1.87 percent lower. The company reported a 28 percent year-on-year increase in profit after tax at Rs 61.4 crore in the September quarter of the fiscal year 2023-24. 

IDBI Bank | CMP Rs 63.06 | Shares of IDBI Bank tanked 5.88 percent despite the lender reporting a net profit of Rs 1,323 crore, up 60 percent year-on-year, for the second quarter ended September on the back of a fall in bad loans.

Blue Star | CMP Rs 858.5 | The stock fell 6.43 percent after the company received a notice from the Collector of Stamps, Mumbai, on October 19, imposing a penalty of Rs 3.39 crore, alleging a default in payment of stamp duty with respect to the scheme of amalgamation approved by the Bombay High Court on May 2, 2008.

JSW Energy | CMP Rs 375.65 | Shares of JSW Energy dived 3.22 percent, despite the energy producer reporting an 88 percent on-year increase in consolidated net profit for Q2FY24.