The Indian stock market started the day on a negative note tracking its global peers and entended the loss as the session went by. Sensex was down 885.72 points or 2.77 percent at 31,122.89, and the Nifty shed 240.80 points or 2.57 percent at 9,142.75. About 960 shares advanced, 1,334 shares declined, and 151 shares are unchanged. Here are the 10 stocks that moved the most today:
Reliance Industries | The stock fell over 4 percent as the company’s share was trading ex-right today. On April 30, the company announced fundraising by way of rights issue along with its Q4 FY20 numbers. The company had announced fundraising of Rs 53,125 crore via 1:15 rights issue and fixed May 14 as the record date. One share will be offered for every 15 shares held at Rs 1,257, a 14 percent discount to the closing price for April 30.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Godrej Consumer | The stock jumped over 5 percent after Global research firm Jefferies maintained a ‘hold’ rating on the stock, with a target of Rs 550 per share. On May 13, the company had reported more than a 75 percent drop in consolidated net profit at Rs 229.90 crore in the fourth quarter ended March 2020, hit by disruptions in sales because of the coronavirus outbreak.
Maruti Suzuki | Share price gained over a percent after Jefferies maintained a ‘buy’ with a price target of Rs 6,000. The auto industry will see a strong rebound in 2022 on a low base after two years of plunging sales. Replacement cycle will kick in given the rising age of vehicles. Estimates earnings per share will grow 35 percent in 2022, it said.
Lupin | The share price was up 2…