Benchmark indices continued their up move for the fourth straight session on June 1 after the government relaxed some lockdown norms to revive the economy. At close, Sensex was up 879.42 points or 2.71% at 33303.52, while Nifty was up 245.85 points or 2.57% at 9826.15. About 1862 shares advanced, 583 shares declined, and 137 shares remained unchanged. Here are the stocks that moved the most today:
2/11
Voltas | Share price surged 12 percent after the company reported a 12.5 percent jump in its consolidated Q4 FY20 net profit at Rs 159.5 crore against Rs 141.74 crore in the year-ago period. The total income for the quarter was up at Rs 2,150.09 crore as compared to Rs 2,120.02 crore in the corresponding quarter of the previous fiscal. The company board recommended a dividend of Rs 4 per share (400 percent) for the year 2019-20 which shall be subject to approval of shareholders at the annual general meeting of the company.
3/11
Biocon | Stock price gained 8 percent after the company received a favourable ruling from US Patent and Trademark Appeal Board (US PTAB). The US Patent and Trademark Appeal Board (PTAB) has ruled in favour of Mylan, Biocon’s partner in inter partes review (IPR) proceedings finding all challenged claims of Sanofi’s Lantus SoloSTAR device patents.
4/11
PVR | The stock price was up 6 percent on news the board of directors will meet on June 8 to consider and approve audited financial results and to decide on raising funds by way of issue of equity shares of the company.
Rashtriya Chemicals and Fertilisers | The stock price was up 13 percent after the company reported a standalone profit after tax of Rs 142 crore in the March quarter, marking an increase of 193 percent from Rs 48 crore in the previous year.
6/11
Mahindra & Mahindra Financial Services| Shares were up over 3 percent after the non-bank lending arm of Mahindra group said that it will raise up to Rs,3,500 crore through a rights issue.
7/11
Amara Raja Batteries | Shares rose more than 6 percent after the company announced better than expected March quarter results. Company’s revenues increased by about 1 percent last quarter over the same period last year to Rs 1581 crore.
8/11
Maruti Suzuki | Stock price was up 3 percent after the company posted total sales of 18,539 units in May 2020 (including 13,865 units in Domestic market and sales of 23 units to other OEM). The company had reported zero sales in April due to COVID-19 induced nationwide lockdown.
Andhra Paper | Stock price hit 5 percent upper circuit after the company reported a 55.12 percent increase in its net profit to Rs 92.92 crore for the fourth quarter ended March 2020. It had posted a net profit of Rs 59.90 crore in the January-March 2019 quarter. The company's revenue from operations was down 25.49 percent to Rs 279.66 crore during the January-March 2020 period, against Rs 375.38 crore in the corresponding quarter a year ago.
10/11
Jubilant Life Sciences | Share price hit 5 percent upper circuit as consolidated net profit stood at Rs 260.49 crore in Q4 March 2020 compared to net loss of Rs 100.65 crore in Q4 March 2019. EBITDA jumped 58 percent to Rs 556 crore in Q4 FY20 from Q4 FY19.
11/11
IDBI Bank | Stock price hit 20 percent upper circuit after the bank posted a profit of Rs 135 crore for the March quarter on account of recoveries from bad loans. The lender reported a profit after 13 straight quarters of net losses. It posted a net loss of Rs 4,918 crore in the corresponding period of last year. Total income rose to Rs 6,925 crore as against Rs 6,616 in the fourth quarter of 2018-19.
