Biggest gainers & losers of the day: Sharda Cropchem zooms, Lux Industries drops 20%

The 30-share pack Sensex jumped 366.64 points or 0.64 per cent to 57,858.15. Its broader peer Nifty50 gained 128.85 points or 0.75 per cent to 17,277.95. The broader markets gained as BSE midcap and smallcap indices added a per cent each.

Ajit Mishra, VP – Research, Religare Broking said, “Markets took a breather and gained over half a per cent, tracking firm recovery in the US markets and upbeat earnings. Healthy buying in select index majors from banking, auto and telecom space helped the index to gradually inch higher as the day progressed.”

Among stock specific actions, beaten-down IPO stocks found some buyers at lower levels but companies that posted poor performers in Q3 continued to be punished. Sharda Cropchem hit the upper circuit, whereas tanked 20 per cent following Sebi verdict.

Let’s have a look at the biggest movers and shakers of Tuesday’s session:


GAINERS

Sharda Cropchem: The agrochemical player hit the upper circuit of 20 per cent at Rs 525.80 as the company’s profit more than doubled to Rs 48.3 in the December 2021 quarter. The company also announced a dividend of Rs 3 per share.

Triveni Turbine: The steam turbine manufacturer gained 13 per cent to Rs 212 ahead of its board meeting scheduled on February 1 to consider and approve the results for the quarter ended December 31, 2021.

& Industries: The textile player zoomed 12 per cent to Rs 93.20 ahead of its board meeting scheduled on February 1 to consider and approve the results for the quarter ended December 31, 2021.

India: The speciality chemical company surged 11 per cent to Rs 2,571.10 ahead of its results for the December 2021 quarter. The company board is scheduled to meet and consider the earnings on Saturday, December 29.

Fineontex Chemical: The smallcap speciality chemical player advanced 10 per cent to Rs 162.75 as the company hosted the Old Bridge Capital in a virtual meeting.

Zomato: The food delivery platform hit the upper circuit of 10 per cent to Rs 100.50 on Tuesday as investors saw some value in the counter following a sharp 35 per cent fall in the scrip in the last one week.

LOSERS

Lux Industries: The loungewear maker hit the lower circuit of 20 per cent at Rs 2,808.45 as the capital markets regulator Sebi barred 14 entities for indulging in insider trading, including Udit Todi, the son of the managing director of the company and currently an executive director in the company.

Indiamart Intermesh: The B2B e-commerce firm tanked 14 per cent to Rs 5,001.55 as the company reported a poor set of numbers in Q3. Its consolidated net profit declined 12.4 per cent YoY to Rs 70.2 crore in the December 2021 quarter.

APL : The structural steel tube manufacturer said its Q3FY22 sales volume at 402,729 tons were down quarter-on-quarter (QoQ) due to channel destocking in anticipation of steel price correction and extended monsoons, which impacted the construction activity. The scrip dropped 8 per cent to Rs 861.95.

Deepak Nitrite: The commodity chemical player slumped 6 per cent to Rs 2,216.65 after the company reported a 500 basis points (bps) contraction in its EBITDA margin at 22 per cent in December 2021 quarter.

RateGain Travel Technologies: The SaaS solutions provider for travel and hospitality shed another 7 per cent to Rs 374.50 despite the company announcing that Malco Enterprises of Nevada, a car rental company in Las Vegas, has selected RateGain to drive business recovery with the world’s first AI-powered revenue management platform – revAI.

CarTrade Tech: The recently listed auto classified platform plunged 6 per cent to Rs 721.70 as the company reported a net loss of Rs 18.48 crore against a profit of Rs 23.88 crore in the same quarter last year.