The BSE Sensex started higher but could not maintain the
momentum and declined 236 points or 0.43% to settle at 54,052.61. During the
day, it touched a low of 53,886.28 and a high of 54,524.37. The broader NSE
Nifty fell 89.55 points or 0.55% to settle at 16,125.15. The broader indices
ended in red with the BSE Midcap index falling 0.95%, while the Small cap index
was down by 1.12%.

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On the sectoral front, the only gaining sector on the BSE
was Bankex up by 0.26%, while IT was down by 1.97%, TECK down by 1.81%,
Utilities down by 1.76%, Power down by 1.70% and FMCG down by 1.47% were the
top losing indices on BSE.

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Here are the key stocks that moved most on May 24:

Delhivery IPO: Logistics firm Delhivery made a decent
debut on the stock exchanges with the shares listing at a premium of as high as
12% over the issue price. On a listing day, Delhivery shares settled at Rs
537.3 per share on BSE, a premium of 10.35 over its issue price of Rs 487 per
share. On NSE, the stock ended at Rs 536.23 per share, a premium of 10.1%.

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Divi’s Laboratories: The stock declined 234.00 points or
6.00% to close at Rs 3,663.90 after brokerage firms cut earnings per share
(EPS) estimates and target price for the drug maker’s stock. This came after
the management of Divi’s Laboratories did not issue any guidance for revenue and
margin growth for the current financial year despite posting robust
January-March quarter results.

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Zomato: Shares of the online food delivery giant closed
8.40 points or 14.72% at Rs 65.45 even after Zomato reported a widening of its
consolidated net loss at Rs 359.7 crore in the March quarter. Conversely, in
the fourth quarter of 2021-22, the company’s consolidated revenue from
operations increased by 75% year on year to Rs 1,212 crore, up from Rs 692
crore the previous year. Zomato’s shares rallied nearly 19% as investors
welcomed the growth outlook commentary by the management.

Also Read | Zomato shares rally over 18% after reporting 75% YoY increase in revenue

Rupa & Company: Shares of the knitwear company
settled 84.90 points or 16.52% down at Rs 429.00 as investors reacted to the
resignation of the company’s CEO and CFO and its March quarter earnings report,
in which it reported a 25.2% decline in its net profit.

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Grasim Industries Limited: The stock ended 56.40 points
or 3.87% down at Rs 1,401.00 after the company announced its March quarter
results. Aditya Birla Group’s flagship firm posted a consolidated net profit of
Rs 3,656 crore for the March quarter of the financial year 2022, up 57% from
the year-ago period, on the back of higher revenues and tax write back. Revenue
from operations grew 18% year on year to Rs 28,811 crore from Rs 24,402 crore.
Tax write back for the quarter stood at Rs 464 crore against tax paid of Rs
1,064 crore a year ago.