HDFC Bank's Loan Growth Slows in Q2 Amid Strategic Moves and Major Stake Purchases
Weekly movers: Hits and misses in the large-cap space during the week!
Last Updated: 5th May 2023 - 04:42 pm
Here’s a list of the top 5 gainers and losers this week in the large-cap space.
India’s economic growth in the current financial year is resilient and, together with the recovery in China, will power a 4.6% growth in Asia, up from 3.8% in the year before, the International Monetary Fund said in its regional economic outlook.
The IMF’s 5.9% growth projection for India for the current fiscal made in April is a downgrade of 0.2% from its January estimate, owing to turmoil in the financial system which in turn will likely hurt global growth.
The agency said Asia’s domestic demand has so far remained strong despite the monetary tightening, while the external appetite for technology products and other exports is weakening.
When looking at the Indian stock market, the S&P BSE Sensex, the frontline index, increased by 1.03% in the last four trading sessions, surging from 61,112.44 on April 28 to 61,749.25 on May 4. In contrast, the Nifty50 went from 18,065 on April 28 to 18,255.80 on May 4.
Let's take a closer look at the top gainers and losers in the large-cap space during the last five trading sessions, which took place between April 28 and May 4.
Top 5 Gainers Return (%)
Company Name |
Returns (%) |
20.61 |
|
11.41 |
|
9.04 |
|
7.06 |
|
6.9 |
Top 5 Losers Return (%)
Company Name |
Returns (%) |
-4.41 |
|
-3.42 |
|
-3.38 |
|
-3.23 |
|
-3.19 |
General Insurance Corporation of India: General Insurance Corporation Ltd gained 20.61% in the last 4 trading sessions. On May 4, the stock hit a day high of Rs 185.60 over its previous close of Rs 154.70. The counter was witnessing heavy trading volumes. Around 11.25 lakh shares were last seen changing hands-on BSE, which was 45 times higher compared to the two-week average volume of 25,000 shares. On May 2, the general insurance company informed the exchanges that Inderjeet Singh has retired as General Manager and Director.
Mahindra & Mahindra Financial Services: The stock gained 11.41% in the last 4 trading sessions. The company has reported standalone net profit for the March quarter which rose 14% year-on-year (YoY) to Rs 684 crore. Its net interest income for the quarter stood at Rs 1,723 crore, which is higher by 13% YoY. Meanwhile, total income rose 24% YoY to Rs 3,057 crore.
Petronet LNG Ltd: Petronet LNG Ltd plunged 4.41% in the last 4 trading sessions. The liquified natural gas importer posted an 18.1% YoY decline in standalone profit at Rs 614.25 crore for the March quarter, dented by weak operating numbers. On the operating front, EBITDA fell 19.3% to Rs 943 crore.
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