M&M, IndusInd Bank, HDFC Bank and other stocks that moved most on October 4
M&M Financial Services stock surged 11.58% to close at Rs 200.35
IndusInd Bank was the top gainer on Nifty, surging 5.25%
HDFC Bank shares jumped 3.04% to close at Rs 1,456.15
Indian equity benchmarks bounced back on Tuesday with the Sensex surging 1,276.66 points or 2.25% to settle at 58,065.47. During the day, it zoomed 1,311.13 points or 2.30% to 58,099.94. The Nifty rallied 386.95 points or 2.29% to close at 17,274.30.
The broader indices ended in green with the BSE Mid cap index gaining 2.42% and the Small cap index up by1.49%. The top gaining sectoral indices on the BSE were Metal up by 3.43%, Bankex up by 2.74%, IT up by 2.68%, TECK up by 2.47% and Utilities was up by 2.35%, while there were no losing sectoral indices on the BSE.
Here are the key stocks that moved the most on October 4:
M&M Financial Services: The stock surged 11.58% to close at Rs 200.35 after the company reported disbursements of approximately Rs 4,080 crore in September, a growth of 82% year-on-year and 106% in the first half of the financial year 2023. Collection efficiency was at 98% for September as against 96% a month before.
IndusInd Bank: The lender was the top gainer on Nifty, surging 5.25% to close at Rs 1,217.00. IndusInd Bank reported that its net advances grew 18% year-on-year and 5% quarter-on-quarter to Rs 2.59 lakh crore in the July-September quarter. Deposits increased 15% year-on-year and 4% quarter-on-quarter to Rs 3.15 lakh crore.
HDFC Bank: The stock jumped 3.04% to close at Rs 1,456.15 after reporting July-September quarter updates. The private bank’s advances stood at Rs 14.8 lakh crore as of September 30, 2022, a growth of around 23.5% year-on-year. Deposits came in at Rs 16.73 lakh crore, up 19% from the year-ago period. The CASA ratio stood at around 45%.
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IDFC First Bank: The private lender’s stock surged 8.11% to close at Rs 53.35. IDFC First Bank’s funded assets grew 24.80% year-on-year and grew 5.60% quarter on quarter. The CASA Ratio stood at 51.34% as of September 30, 2022, as against 50.04% in the previous quarter.
Reliance Industries: The stock surged 1.83% to close at Rs 2,412.90 after Sanmina Corporation and Reliance Strategic Business Ventures announced that they had completed the joint venture transaction. The joint venture will create a world-class electronic manufacturing hub in India. Sanmina Corporation is a leading integrated manufacturing solutions company.