Published On: Monday, May 9, 2022 | By: Team KnowMyStock
Among the Sensex 30 stocks, Reliance Industries plunged over 4 percent after the Mukesh Ambani-led oil-to-chemicals (O2C) company on Friday reported a consolidated net profit of Rs 16,203 crore for the quarter ended March 31, 2022 (Q4 FY22), up 22.5 percent over the year-ago period’s Rs 13,227 crore, but slightly short of expectations.
Nestle India and IndusInd Bank tanked 3 percent each. Tata Steel, Tech Mahindra, SBI, Hindustan Unilever, ITC, and Axis Bank were the other major losers.
However, PowerGrid Corporation and HCL Technologies zoomed over 3 percent each. Infosys jumped nearly 2 percent. Maruti, Bajaj Finserv, and HDFC were other prominent gainers.
The broader markets ended with deeper cuts. The BSE Midcap and Smallcap indices were down over 1.5 percent each. The breadth too was fairly negative, with more than two declining stocks for every advancing share on the BSE.
Among other stocks, LTI Infotech and Mindtree tanked over 5 percent each following the merger announcement by Larsen & Toubro. As per the merger agreement, shareholders of Mindtree will receive 73 shares of LTI in exchange for 100 shares in the former. LTI finally ended 3.4 percent lower, while Mindtree shed 5.3 percent at the close.
Sector-wise, the BSE Energy and Power indices plunged over 2 per cent each. The Consumer Durables, FMCG and Metal indices were the other major losers in trade on Monday. The IT and Telecom indices were the only gainers.
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