Piramal Pharma, Nestle India & other stocks that moved most on October 19

Indian equity benchmarks ended higher on Wednesday with the Sensex gaining 146.59 points or 0.25% to settle at 59,107.19. The Nifty gained 25.30 points or 0.14% to end at 17,512.25.

The broader indices ended green with the BSE MidCap index gaining 1.11% and the SmallCap index up by 0.74%. The top gaining sectoral indices on the BSE Capital Goods by 2.07%, PSU by 1.95%, Realty by 1.87%, Utilities by 1.85% and Power by 1.82%. While there were no losing sectoral indices on Wednesday.

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Piramal Pharma: The stock debuted on the exchanges on Wednesday.  It ended nearly 5% lower at Rs 191.75 from its listed price on the BSE. The company recently got demerged from Piramal Enterprises, resulting in two industry-focused listed firms in Financial Services and Pharmaceuticals.

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Nestle India: The stock ended 1.91% higher at Rs 19,954.65 after the company released its second-quarter results. The food products company posted an 8.3% growth in net profit at Rs 668 crore for the quarter that ended in September against Rs 617 crore in the year-ago period.  The sales growth was highest among the last five years’ quarters. The company also announced an interim dividend of Rs 120 per share, amounting to Rs 1,157 crore.

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L&T Technology Services Limited: The stock  ended 4.89% lower at Rs 3,493.05 after the company reported a net profit of Rs 2,824 million, a growth of 23% year-on-year for the September quarter. Revenue grew at 24% year-on-year to Rs 1,995 crore. The EBIT margin of the company stood at 18.2%. The company also announced an interim dividend of Rs 15 per share.

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Praj Industries: The share price fell 1.11% to close at Rs 433.80 on the BSE after the company reported a 44.4% year-on-year growth in net profit at Rs. 48.13 crore for the second quarter of fiscal 2022-23. The net profit for Q1FY23 was reported at Rs. 41.26 crore and Q2FY22 was Rs. 33.34. Revenue stood at Rs. 876.58 crore, a growth of over 64% against Rs. 532.41 crore in year-ago period. The order intake during the quarter was at Rs. 981 crores, up by 31% year-on-year. 

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Mahindra CIE Automotive: The stock opened in red at Rs 307.95 but ended 1.83% higher at Rs 317.70 after the company reported its quarterly performance on Tuesday with a 3.04% growth in net profit to Rs 171.37 crore. Sales were recorded at Rs 2,723.15 crore with a growth of over 30% against the corresponding quarter of previous financial year. 

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Network18 Media & Investments: The stock after opening in negative at Rs 66.80 ended 6.29% lower at Rs 65.55 on the BSE. The company a day earlier had reported a net loss of Rs 36.49 crore as against a net profit of Rs 39.02 crore in the corresponding quarter a year ago. Sales rose by 11.65% to Rs 1,548.89 crore in the reviewed quarter.