Here's a list of 5 gainers and losers on Sensex along with what moved them!
Mahindra & Mahindra: The automaker took lead in the gainers' list by rising 3.81% trading at Rs423.90 per piece on Sensex. M&M's subsidiary namely Mahindra Renewables agreed to sell 93,15,000 Equity Shares of Rs10 each held by MRPL in Neo Solren Private for consideration of Rs104.67cr.
Infosys: The IT-major was second in lead by trading at Rs690.05 per piece up by 2.75%. US court has dismissed the lawsuit which was filed against the company and certain officers.
Asian Paints: The stock was trading at Rs1616.05 per piece up by 2.61%. The company launched a digital campaign assuring painters and their families of having safe painting service.
Ultratech Cement: The stock was trading at Rs3,637.70 per piece up by 1.88%.The company has recorded a 3-fold jump in net profit to Rs3,243cr during March 2020 quarter. It has announced a dividend worth Rs375.21cr.
Tech Mahindra: The stock was at Rs529.30 per piece up by 1.81%. The company has partnered with ChampTrax Technologies to develop a solution to create stadium like-experience at home for global sports fans.
Majority of underperformers on Sensex were banking and financial stocks as the Reserve Bank of India (RBI) on Friday reduced the policy repo rate by 40 basis points to 4%. Also, RBI has extended the moratorium on term loans for another 3 months ending August 31, 2020.
Axis Bank: The stock was down by 5.32% at Rs338.30 per piece. Amitabh Chaudhry, MD & CEO of Axis Bank in an email interview with Business Standard mentioned that, it will be a long road to recovery from Covid-19.
HDFC: The stock was trading at Rs1521.05 per piece down by 4.71%. The company will announce its March 2020 quarter and year-ended result on May 25, will consider further plan to raise funds via NCDs.
Bajaj Finance: The stock was trading at Rs1897.95 per piece down by 4.57%. The company has posted a 19% drop in Q4FY20 to Rs948cr. Covid-19 has impacted AUM and new loans business growth.
ICICI Bank: The stock was below 3.94% trading at Rs292.35 per piece. The bank has allotted 156,081 equity shares under ESOS on May 21, 2020.
Bajaj Auto: The stock slipped by 3.20% at Rs2555 per piece. Bajaj Auto's March 2020 (Q4FY20) quarter saw deceleration in both top-line and bottom-line front. Sales were disrupted due to a decline in motorcycle demand in India.