Punjab National Bank, Tata Motors and other stocks that moved most on May 12

#BSE #Covid #Nifty

Punjab National Bank crashed by 12.54% to close at Rs 28.95
Shares of Tata Motors declined 4.19% to close at RS 371.90
Relaxo Footwears fell 2.38% to close at Rs 1,005.00

Written By:Devanshu

Updated: May 12 2022 02:42:10 AM ET

The BSE Sensex declined 1,158 points or 2.14% to close below the 53,000-mark at 52,930.31.The NSE Nifty plunged 359.10 points or 2.22% to end at 15,808. All the sectoral indices closed in the red with capital goods, auto, bank, metal, oil & gas, power, FMCG, pharma, and realty indices down 1-4%. Among broader indices, the BSE midcap and smallcap indices fell 2% each.

Also Read | Closing Bell: Sensex crashes 1,158 points, Nifty closes at 15,808

Here are the key stocks that moved the most on May 12:

Punjab National Bank: The stock price crashed by 12.54% to close at Rs 28.95 after the company reported a 66% decline in the standalone net profit at Rs 202 crore for the fourth quarter ended March 2022 on higher amounts parked towards provisioning, even as its NPA levels declined.

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Tata Motors: Shares of the auto major declined 4.19% to close at RS 371.90. The company reported a consolidated net loss of Rs 1,032 crore for the quarter ended March 2022 compared with a consolidated net loss of Rs 7,605 crore in the year-ago quarter. The company reported an 11.5% YoY decline in consolidated revenue from operations to Rs 78,439 for the March quarter.

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Relaxo Footwears: The share price fell 2.38% to close at Rs 1,005.00 after the company reported a 38% YoY decline in the profit at Rs 63 crore for the quarter ended March 2022, hit by lower operating income and topline. Revenue during the same period declined 7% to Rs 698 crore impacted by Covid, a rise in GST rate and slow demand amid high inflation. EBITDA fell 32% to Rs 111 crore compared to the same period last year on account of higher costs.

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Skipper: The stock surged 6.67% to close at Rs 60.00 after the company reported a 177% YoY growth in profit at Rs 25.12 crore in the quarter ended March 2022 on account of higher operating income and margin performance, which is 260bps high YoY. Revenue jumped 11% to Rs 552.65 crore and EBITDA increased by 44% to Rs 61.67 crore from the year-ago period.