Weekly movers: Hits and misses in the large-cap space during the week!

5paisa Research Team 13th May 2023 - 01:33 pm

Here’s a list of the top 5 gainers and losers this week in the large-cap space.

Indian banking system is better positioned to tackle the rising interest rates and the impact of the ongoing US banking turmoil on Indian lending conditions is expected to be limited. Silicon Valley Bank, one of the most prominent lenders in the tech startup world, collapsed on March 10 due to a run on the bank by depositors. This led to a contagion effect and the subsequent shutting down of other banks, such as Signature Bank and First Republic Bank, due to monetary policy tightening.

Against that backdrop, India looks better placed to weather emerging global financial risks. The US Fed has hiked its policy rate by 500 basis points (bps), the fastest pace of hikes since 1980, to 5-5.25% in its fight against above-tolerable inflation. This sharp rise has already tested segments such as the tech sector and small regional banks in the US.

India's external funding requirements are expected to reduce this fiscal - 2023-24, with India's key external liability - current account deficit (CAD) likely to be pared this fiscal on lower crude oil prices. The Reserve Bank of India's adequate forex reserves and India's good growth prospects should cushion the impact of a global spillover on overall macros. 

When looking at the Indian stock market, the S&P BSE Sensex, the frontline index, increased by 1.39% in the last five trading sessions, surging from 61,054.29 on May 5th to 61,904.52 on May 11th. In contrast, the Nifty50 went from 18,069 on May 5 to 18,297 on May 11.  

Let's take a closer look at the top gainers and losers in the large-cap space during the last five trading sessions, which took place between May 5 and May 11.

Top 5 Gainers Return (%)

Company Name	Returns (%)
IndusInd Bank Ltd.	10.57
Marico Ltd.	9.79
Macrotech Developers Ltd.	9.6
Sona BLW Precision Forgings Ltd.	9.47
Varun Beverages Ltd.	8.71

 Top 5 Losers Return (%)  

Company Name	Returns (%)
Indian Bank	-12.99
Bank Of India	-9.43
Adani Transmission Ltd.	-8.23
Dr. Reddy's Laboratories Ltd.	-8.19
Union Bank Of India	-7.89

IndusInd Bank Ltd: IndusInd Bank Ltd gained 10.57% in the last 5 trading sessions. On a consolidated basis, the bank has reported a rise of 45.89% in its net profit at Rs 2,043.44 crore for the fourth quarter that ended March 31, 2023, as compared to Rs 1,400.64 crore for the same quarter in the previous year. The total income of the bank increased by 24.70% at Rs 12,174.31 crore for Q4FY23 as compared to Rs 9,763 crore for the corresponding quarter previous year.

Marico Ltd: Marico Ltd gained 9.79% in the last 5 trading sessions. Marico’s Q4FY23 numbers met investor’s expectations with volume-led YoY revenue growth of 3% to Rs 2,240 crore, OPM expanding by 153 bps YoY to 17.5%, while adjusted PAT growth at 10% y-o-y to Rs 283 crore. Domestic volume growth would be at 7-8% in FY2024 as compared to 3-5% volume growth achieved in the past three quarters. International business will continue to grow in double digits.

Indian Bank: Indian Bank plunged 12.99% in the last 5 trading sessions. For Q4FY23, the company has reported a Consolidated Total Income of Rs 14415.98 Crore, up 4.75 % from last quarter. Total Income reported was Rs 13761.95 crore, up 24.75% from last year’s same quarter Total Income of Rs 11556.02 crore. The bank has reported a net profit after tax of Rs 1519.68 crore in the latest quarter. The fall in stock price is due to global bank conditions which have an impact on some of the Indian banks.

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5paisa Research Team

Disclaimer: Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.

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