Despite opening in the green, the S&P BSE Sensex index shed 164 points or 0.31 per cent to settle at 52,318.6. The broader NSE Nifty50 benchmark declined 41.5 points or 0.26 per cent to settle at 15,680. The BSE Midcap index ended with a mild cut whereas the smallcap index gained further.
The market is gearing up for June quarter results. Ahead of the onset of the earnings season, Apex Frozen and Power Mech soared 20 per cent, whereas Alankit tanked over 11 per cent. Four of Adani group stocks hit their lower circuit limits.
Here are the biggest movers and shakers of Thursday’s session:
GAINERS
Power Mech Projects: The Hyderabad-based infrastructure firm has been on a roll after bagging a Rs 9,294 crore mine development and operation (MDO) project from Central Coalfields, a subsidiary of Coal India. The stock soared 20 per cent to settle at Rs 901.25 for the day.
Apex Frozen Foods: The Andhra Pradesh-based seafood company surged 20 per cent to Rs 348.60. will announce its results for the first quarter of FY22 in the coming days.
India Glycols: The stock rallied 16 per cent to Rs 747.05 after the specialty chemical company announced a joint venture for renewable ethylene oxide (EO) derivatives after receiving all necessary regulatory approvals. The joint venture will operate under the name Clariant IGL Specialty Chemicals Private Limited.
Nucleus Software: The software product company announced that its digital lending software solution FinnOne Neo would power the consumer finance business of Tien Phong Commercial Joint Stock Bank (TPBank), one of the leading banks in Vietnam. The scrip ended at 701.50, up 11 per cent.
Info Edge (India): Shares of the company gained 8 per cent to Rs 5,318.50. The domestic internet major is the largest stakeholder in food delivery startup Zomato, which is eying an IPO soon. Zomato has sought approval from fair trade regulator CCI to buy a 10 per cent stake in e-grocery platform Grofers.
Losers:
Alankit: The stock fell 11 per cent to Rs 23.50 after the commercial services firm’s poor performance in the March quarter. Its net profit dropped 70 per cent to Rs 0.98 crore in the fourth quarter of FY21 and revenue dipped 36 per cent to Rs 24.25 crore.
Sequent Scientific: The stock tanked 9 per cent to Rs 283.20 apiece. The pharmaceutical company reported a net profit of Rs 23.52 crore for the March quarter, a 38 per cent declined on a sequential basis.
Vodafone Idea: Shares of the telecom operator plunged 9 per cent to Rs 9.07 apiece after poor Q4 numbers. The auditor raised concerns over the telecom company’s ability to remain a going concern. Analysts have set price targets as low as Rs 5 for Vodafone Idea, suggesting a potential slide of 48 per cent.
Sadbhav Engineering: Shares shed 5 per cent to Rs 88.80 on Thursday after the construction and engineering company reported poor performance in FY21. The profit of the company dropped to Rs 41.03 crore in the fiscal year ended March 31, 2021 from Rs 85.15 crore in the previous year.
Adani Stocks: Four Adani group stocks hit their lower circuit limits, highlighting that the worst is not over yet for the conglomerate.
, Adani Total Gas, Adani Transmission and shed 5 per cent each to Rs 107.8, Rs 968.80, Rs 1,009.85 and Rs 1,061.75, respectively.
