From Sun Pharma to Reliance Industries, here are some of the stocks that moved the most on May 28.
Benchmark index Nifty50 hit a record high on Friday tracking gains in Asian peers as falling COVID-19 infection rates boosted sentiment. India posted its lowest daily rise in COVID-19 cases in over a month.
The Sensex ended 307 points higher at 51,423 while the Nifty rose 98 points to end at a new closing high of 15,435. Both indices rose over 1.5 percent for the week.
Nifty50 rose as much as 132 points to hit a new intra-day high of 15,469.65, crossed the earlier level of 15,431.75.
Among stocks, the Nifty Energy index rose around 1.5 percent while auto, financial services, metal and FMCG sectors were also in the green. However, Nifty Pharma lost over a percent and Nifty IT down 0.2 percent for the day.
Here are the key stocks that moved today:
Hester Biosciences: The share price of Hester Biosciences rallied almost 6 percent after the company announced it will provide infrastructure for manufacturing Covaxin drug substance. Hester has estimated an outlay of Rs 40 crore for this project. Vaccine maker Bharat Biotech has signed a memorandum of understanding (MoU) with Gujarat Covid Vaccine Consortium (GCVC), of which Hester Biosciences is a part. According to the MoU, Bharat Biotech shall provide the technology for the production of the drug substance for Covaxin and GBRC will act as an advisor and mentor and will facilitate the technology transfer.
Sun Pharma: The share price of Sun Pharma fell nearly 4 percent after the firm's net profit halved sequentially as sales declined and its US arm reported an operating loss. The profit missing analysts' estimates weighed on the sentiment. The pharma major's consolidated net profit fell 52 percent QoQ to Rs 894.15 crore in Q4. A CNBC-TV18 poll had predicted a profit of Rs 1,443.5 crore for the quarter under review. However, on a YoY basis, the profit surged 123 percent as against its profit of Rs 399.84 crore in the year-ago quarter. For the full year FY21 as well, consolidated profits were down 23 percent at Rs 2,903.82 crore from Rs 3,764.93 crore a year ago.
Redington India: Shares of Redington (India) were locked at a 20 percent upper circuit limit, hitting a 52-week high of Rs 219.75 apiece after the company reported its March quarter earnings. The stock price has gained over 165 percent in the last one year, while it is up more than 66 percent YTD. The supply chain solution provider posted a consolidated net profit of Rs 302.51 crore in Q4FY21, up 153.78 percent as against Rs 119.20 crore during the year-ago period. The company’s total revenue from operations during the quarter rose 22.40 percent to Rs 15,503.94 crore from Rs 12,666.66 crore, YoY.
Bajaj Healthcare: The share price of Bajaj Healthcare rallied around 7 percent to hit a 52-week high on Friday after the company received approval to launch a drug to treat black fungus infection in COVID-19 patients. The company has received approval from the Food and Drug Administration to manufacture and market Posaconazole API, the medication for treating Mucormycosis, in India, it said in a regulatory filing. It added that it will commence its commercial production from the first week of June.
RIL: Shares of Reliance Industries rose 6 percent, the highest gain in over 2 months on heavy volumes.
(Edited by : Pranati Deva)