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

  • Nestle India ended 1.91% higher at Rs 19,954.65
  • L&T Technology ended 4.89% lower after reporting quarterly results
  • Network18 Media and Investments ended 6.29% down after quarterly results 

Written by:Daman
Published: October 19, 2022 01:18:38

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.

Also Read: European markets largely flat after hot UK inflation data

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.

Also Read: UK inflation jumps to 40-year high of 10.1% in September

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.

Also Read: Apple halts plans to use China’s YMTC chips

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.

Also Read: Week ahead: Quarterly results, dollar movement to guide equity markets

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. 

Also Read: Reliance Jio ties up with Nokia and Ericsson to deploy 5G network in India

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. 

Also Read: World’s largest chipmaker TSMC reports 80% jump in net profit

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.

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