The BSE Sensex surged 180.22 points or 0.34% to close at
52,973.84. During the day, it gained 634.66 points or 1.20% to 53,428.28. The
broader NSE Nifty rose 60.15 points or 0.38% to close at 15,842.30, posting its
first gain in seven sessions. On the sectoral front, capital goods, auto,
realty, power and PSU bank indices surged 1-3% while IT and FMCG stocks ended

Also Read | Closing Bell: Sensex surges 180 points, Nifty closes at 15,842

Here are the key stocks that moved the most on May 16:

State Bank of India: The stock closed 2.55% to close at
Rs 456.00 after the state-owned bank reported a 41% YoY rise in net profit at
Rs 9,113.5 crore, which was below the street estimates of Rs 9,927.6 crore. The
net profit was its highest ever. Morgan Stanley has kept an “overweight” rating
and cut the target price to Rs 580 from Rs 615 while Nomura has maintained a
“buy” rating on the stock with a target of Rs 615.

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Eicher Motors: The share price surged 7.95% to close at
Rs 2,626 after Eicher Motors on May 13 declared a consolidated profit after tax
(PAT) of Rs 610 crore for the quarter ended March 2022. Sequentially, the
profit growth was 34% from Rs 456 crore in the previous quarter. The company
reported an 8.6% YoY growth in its consolidated revenue at Rs 3,193 crore from
Rs 2,940 crore in the corresponding period of the previous year.

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ACC Ltd and Ambuja Cements Ltd: Stocks of the cement
companies opened higher following Adani’s announcement on Sunday of acquiring
Holcim’s stake in the firms. ACC and Ambuja’s stocks closed 3.7% and 2.36%
higher respectively, on the BSE.

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Avenue Supermarts (DMart): The stock closed 10.35% higher
at Rs 3,565.00 after the company posted a 3% YoY rise in net profit. On a
sequential basis, the consolidated net profit declined 22% to Rs 427 crore for
the March quarter of the financial year 2022. Revenue slipped 5% QoQ to Rs
8,787 crore from Rs 9,218 core. On the yearly basis, revenue rose 19%.

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Bank of Baroda: The stock gained 5.53% to close at Rs
100.25 as investors were impressed by the continuous improvement in the
lender’s asset quality in the March 2022 quarter. The bank reported gross
non-performing assets (GNPA) ratio of 6.6% for the quarter as against 7.3% in
the previous quarter despite new slippages rising to Rs 4,500 crore. The rise
in slippages at over 5% on year to Rs 3,776 crore weighed on net profit, which
was below analysts’ expectations.