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Here are key stocks that moved the most on June 3

Here are key stocks that moved the most on June 3

Here are key stocks that moved the most on June 3
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By Pranati Deva  Jun 3, 2021 3:57 PM IST (Updated)

The Sensex ended 383 points higher at a new closing high of 52,232 while the Nifty rose 114 points to its fresh closing high of 15,690. 

Indian indices ended at record closing highs on Thursday boosted by banks and financials ahead of the RBI Monetary policy decision due tomorrow. The RBI is expected to leave rates unchanged, stick to an accommodative stance in this policy to support economic growth amid the COVID second wave.

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Gains in FMCG and metal sectors also supported the benchmarks.
The Sensex ended 383 points higher at a new closing high of 52,232 while the Nifty rose 114 points to its fresh closing high of 15,690.
Meanwhile, broader markets were also positive for the day with the midcap index up 0.9 percent and smallcap index up 1.2 percent. The Midcap index also posted a record close for the day.
Here are the key stocks that moved today:
Motherson Sumi: The share price of Motherson Sumi Systems fell 7 percent after a 13 percent rise in the stock in the previous session as brokerages downgraded the stock after the company announced its March quarter earnings. The rise in Wednesday's session came after the company announced its quarterly results showing a robust recovery. The company reported a nearly eight-fold jump in consolidated net profit at Rs 1,018.69 crore in the fourth quarter ended March 31 riding on strong sales. However, despite a stellar performance, global brokerage houses Nomura, CLSA and Jefferies downgraded the stock as they don't see a significant upside in the near term.
Ruchi Soya: Shares of Ruchi Soya Industries were locked in a 5 percent upper circuit at Rs 1,137.50 per share on the BSE after the company said that it has entered the nutraceuticals segment with Patanjali Ayurved. The company announced that it has made a foray into the nutraceuticals and wellness segment and initially will launch 10 products under the brand 'Patanjali' and 'Nutrela'. The company aims to have a range of products across various product categories in the next one year, it said.
Magma Fincorp: Magma Fincorp share price hit the upper circuit of 5 percent for the fourth straight day, hitting a fresh 52-week high of Rs 157.70 apiece on Thursday. Already up more than 18 percent this week, the one-year return on Magma Fincorp stock is a massive over 982 percent. So far this year, Magma Fincorp has gained an impressive 292 percent. The uptrend in the stock follows the announcement of a new management structure for Magma Fincorp after the Poonawalla Group had taken over for Rs 3,456 crore. On May 31, the board of Magma appointed Adar Poonawalla as the Chairman while Abhay Bhutada, who is the Chief Executive of the Poonawala Finance, will be the Managing Director.
PNB Housing Finance: PNB Housing Finance was locked in 10 percent upper circuit at Rs 762.50 per share. The Punjab National Bank's mortgage arm's share price has been hitting the upper circuit for the fourth consecutive day. On May 31, the company announced that its board approved a capital raise of up to Rs 4,000 crore, led by entities affiliated to Carlyle Group Inc. Pluto Investments S.a.r.l., an affiliated entity of Carlyle Asia Partners IV, L.P. and Carlyle Asia Partners V, L.P. will invest up to Rs 3,185 crore through a preferential allotment of equity shares and warrants, at a price of Rs 390 per share, the company had said in a regulatory filing.
Snowman Logistics: The share price of Snowman Logistics rallied 10 percent after the company announced a strategic partnership with Dr Reddy’s Laboratories to provide temperature-controlled end-to-end logistics solutions for the delivery of the two-dose Sputnik COVID-19 vaccine across India. Snowman will manage the delivery through five of its high-capacity temperature-controlled warehouses in Mumbai, Delhi-NCR, Kolkata, Chennai, and Bengaluru, the company said in a regulatory filing. The logistics service provider will offer storage, order processing, shipper packing and secondary transportation from these locations.
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