India Stock Market Analysis

Best Top gainers and losers : 10 stocks that moved the most on October 18 2023

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Top gainers and losers

The Sensex fell 551.07 points, or 0.83 percent, to 65,877.02 on October 18, while the Nifty fell 140.40 points, or 0.71 percent, to 19,671.10. Approximately 2,144 shares fell, 1,424 shares increased, and 1.37 shares stayed the same.

1. Zensar Technologies

Zensar Technologies | CMP Rs 517.1 | Zensar Technologies shares tanked 5 percent after it posted a modest revenue growth of 0.5 percent on-year and 1.1 percent on-quarter to Rs 1,240 crore, impacted by weak hi-tech and manufacturing verticals.

2. VST Industries

VST Industries | CMP Rs 3,313.35 | Shares of VST Industries, the cigarette manufacturer declined nearly 2 percent after the company’s net profit for the second quarter of FY24 slumped 17.6 percent on-year.

3. Syngene International

Syngene International | CMP Rs 730 | Shares of Syngene International Limited plunged over 6 percent after the drug maker trimmed its revenue guidance to a mid-teen level in the second half of the year. The cut in the forecast comes amid a slowdown in US biotech funding.

4. Tata Elxsi

Tata Elxsi | CMP Rs 7,600.05 | Shares of Tata Elxsi gained 2 percent a day after the design and technology services company announced 5.9 percent on-quarter growth in net profit and a 14.8 percent on-year rise to Rs 200 crore for the quarter ended September 2023.

5. Hudco

Hudco | CMP Rs 80.34 | The share price of Housing & Urban Development Corporation (Hudco) cracked 10 percent as the government proposed to divest up to 7 percent of its stake in the state-run housing finance player through the OFS route.

6. Orient Cements

Orient Cements | CMP Rs 204.25 | Orient Cement Ltd shares surged by nearly 8% following reports that the company’s promoter, CK Birla, has approached Gautam Adani to sell his stake.

7. Astra Microwave Products

Astra Microwave Products | CMP Rs 479.75 | Shares of Astro Microwave Products surged 13 percent to Rs 513.05 reaching a 52-week high. The stock pared some gains and closed 7 percent higher than the previous day. 79 lakh shares exchanged hands today, higher than the weekly average of 4 lakh shares.

8. Happiest Minds

Happiest Minds | CMP Rs 837.25 | Happiest Minds shares fell more than 2 percent after the company’s consolidated profit for the September quarter fell 1.6 percent to Rs 58.46 crore from the year-ago period.

9. Biocon

Biocon | CMP Rs 238.55 | Biocon share slumped 6 percent in the early trade on October 18 after the Indian pharma firm said that its Malaysian insulin manufacturing facility was classified as “OAI” (Official Action Indicated) by the US Food and Drug Administration (FDA).

10. Bajaj Electricals 

Bajaj Electricals | CMP Rs 1,121 | Shares of Bajaj Electricals gained more than 2 percent after the company received a contract worth Rs 347.29 crore from Power Grid Corporation of India.

Conclusion

Investors should carefully consider their individual investment goals and risk tolerance before making any investment decisions. The stock market can be volatile, and there is no guarantee of profits.

What is the best way to invest in the stock market?

The best way to invest in the stock market is to do your research and invest in companies that you believe have a strong future. You should also diversify your portfolio by investing in a variety of different stocks. This will help to reduce your risk if one stock performs poorly.

Why did the top gainers perform well?

The strong performance of FCT, IRFC, and Ircon can be attributed to positive news about the government’s infrastructure push. The government has announced that it will invest $1.4 trillion in infrastructure over the next five years. This is likely to boost demand for the products and services of these companies.