Wipro, HCL, Adani Wilmar and other stocks that moved most on October 13

Indian equity benchmarks ended in negative territory on Thursday. The Sensex was 390.58 points or 0.68% down to close at 57,235.33 points. The Nifty lost 109.25 points or 0.64% to settle at 17,014.35. 

The broader indices ended in red with the BSE MidCap index losing 0.73% and the BSE SmallCap index up by 0.45%. The two gaining sectoral indices on the BSE were Healthcare by 0.17%, and Metal by 0.13%, while Capital Goods was down by 1.22%, Bankex was down by 1.21%, Realty was down by 1.08%, PSU was down by 1.03% and Industrials was down by 0.98%.

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Wipro: The stock ended 7.03% lower at Rs 379.10 on the BSE after the company reported a 9.2% decline in its net profit for the second quarter of the financial year 2022-23 on a year-on-year (YoY) basis. It reported a net profit of Rs 2,659 crore in the quarter, against Rs 2,930.7 crore a year ago. The revenue for the quarter came in at Rs 22,539.7 crore, up 14.6% on a YoY basis; sequentially, the figure was up 4.69%.

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HCL: The stock opened with a positive gap from Rs 952.00 on Thursday and ended 3.16% higher at Rs 982.10 on the BSE. The company had raised its annual revenue growth forecast to 13.5%-14.5%, from 12%-14%, after it reported a consolidated net profit of Rs 3,489 crore for the second quarter of the financial year 2022-23. Its’s revenue grew by 19.5%, services business grew by 18.9% YoY. The services revenue is expected to grow 16%–17% YoY in FY23, according to the forecast by the company.

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Adani Wilmar: The stock opened with a negative gap from Rs 708.45 and ended 3.47% lower at Rs 683.90 on the BSE. Its overall revenue in the second quarter of FY23 will annually grow at a low rate amid a fall in rates of edible oils, the company stated. In a regulatory filing, the company shared an update on the standalone performance in the second quarter.

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Vedanta: The stock opened in the green territory and ended 1.88% higher at Rs 293.90 at the BSE on Thursday. The group on Wednesday said that its shareholders had approved a proposal to transfer Rs 12,857 crore from its general reserve to its profit and loss (P&L) account. According to data compiled by the BS Research Bureau, Vedanta paid the highest dividend, Rs 16,740 crore in FY22. In FY23, the company had so far announced two interim dividends, amounting to a cash outflow of Rs 18,960 crore, data shows.

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SBI: The stock ended 2.36% lower at Rs 521.35 on the BSE. The bank on Wednesday announced that its home loan book has crossed the Rs 6 lakh crore mark, taking it to the largest in the industry, adding that it is the first lender to achieve the Rs 6 lakh crore milestone in the residential category. The bank also announced discounted interest rates at 8.4 per cent as part of their festive offerings. 

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NMDC: The stock ended at Rs 128.90 which is down by 1.26% on the BSE after The Ministry of Corporate Affairs (MCA) approved the demerger of NMDC Steel, a three-million tone steel plant in Chhattisgarh, from NMDC Ltd. It is in the process of demerging its Greenfield steel plant built at Nagarnar in Chhattisgarh with an investment outlay of over Rs 20,000 crore, the company said.