Nifty 500: Motherson Sumi Wiring jumps 12% on Q2 result; Indraprastha Gas hits 52-wk low

ITI, Motherson Sumi Wiring India, Engineers India,  Zen Technologies, Reliance Industries and Welspun Living were among the stocks that moved the Nifty 500 higher at market open on Monday, November 2, while Indraprastha Gas and Clean Science and Technology slipped lower.

Second-quarter results, announced between Friday and Saturday, drove most of the gains. Indraprastha Gas also hit a fresh 52-week low.

Top gainers at market open

The shares of ITI Ltd surged up to 14%. The company's shares have fallen almost 21% in the year-to-date period and has fallen almost 25% in the past year. The company's shares are 18% away from hitting its 52-week low of ₹210.76. More than 44 lakh shares of the company exchanged hands at intraday trade on the market at 27.82 times the stock's 10-day average volume.

Motherson Sumi Wiring India shares rose 12% at market open before paring some gains, after its second-quarter results, announced after market close on Friday, October 30.

Net profit rose 35.1% year-on-year to ₹223.37 crore from ₹165.34 crore, and revenue rose 46.8% to ₹4,053.8 crore from ₹2,761.9 crore. Operating profit (EBITDA) rose 33.6% to ₹373.6 crore from ₹279.7 crore, though the margin slipped to 9.22% from 10.13%.

The stock had fallen more than 21% since the beginning of the year and more than 19% in the past year. It was 17.8% away from hitting its 52-week low of ₹32.70. More than 6 crore shares of the company exchanged hands at intraday trading at 6.30 times the stock's 10-day average volume.

Engineers India shares rose 11% at market open. The stock had risen more than 38% since the beginning of the year and 40% in the past year. It was at a 14.6% decline from its 52-week high of ₹321.40. More than 74 lakh shares of the company exchanged hands at intraday trade on the market at 2.57 times the stock's 10-day average volume.

Welspun Living shares rose over 9% at market open after the company reported its second-quarter results in the middle of trade on Friday.

Revenue rose 16.3% year-on-year to ₹2,838 crore from ₹2,441 crore, and net profit rose to ₹170 crore from ₹14 crore. Operating profit (EBITDA) rose to ₹338 crore from ₹153.2 crore, with the margin at 11.9% against 6.3%.

The stock had risen more than 80% since the beginning of the year and more than 81% in the past year. It was at a 2.6% decline from its 52-week high of ₹245.50. More than 1 crore shares of the company exchanged hands at intraday trade on the market at 2.33 times the stock's 10-day average volume.

Zen Technologies shares rose 8.7% at market open before paring some gains, after its second-quarter results, announced on Saturday.

Net profit rose 50.7% year-on-year to ₹90 crore from ₹59.4 crore, and revenue rose 99% to ₹345.1 crore from ₹173.6 crore. Operating profit (EBITDA) rose to ₹132 crore from ₹65 crore, with the margin at 38.2% against 37.3%.

The stock had risen more than 25% since the beginning of the year and more than 20% in the past year. It was at a 19.1% decline from its 52-week high of ₹2,043.70. More than 8 lakh shares of the company exchanged hands at intraday trade on the market at 3.79 times the stock's 10-day average volume.

Reliance Industries shares were trading more than 6% higher after its Q2 results, announced after market close on Friday, which the company called its strongest-ever quarterly performance.

Consolidated profit was ₹29,550 crore against ₹23,196 crore in the previous quarter and ₹22,092 crore a year ago. Consolidated revenue rose 27.8% YoY to a record ₹3.62 lakh crore, and EBITDA margin was 18.8% against 17.3% in the previous quarter and 19.5% a year ago.

The oil-to-chemicals business drove the quarter, with EBITDA up 67.9% YoY to an all-time high of ₹25,203 crore. Retail revenue rose 6.4% YoY to ₹91,716 crore, which the company said was hit by the festive calendar shifting to Q3.

The company’s shares have fallen more than 21% since the beginning of the year and almost 17% in the past year. The stock is 6.9% away from hitting its 52-week low of ₹1,152.20. Over 4 crore shares of the company are being traded on the stock market today at 2.57 times the stock’s 10-day average.

Top losers at market open

Indraprastha Gas shares fell as much as 9.5% at market open before paring some losses, and hit a 52-week low of ₹125.63. The stock had fallen more than 31% since the beginning of the year and more than 39% in the past year. More than 40 lakh shares of the company exchanged hands at intraday trade on the market at 3.14 times the stock's 10-day average volume.

Clean Science and Technology shares fell 7.8% at market open. The stock had fallen more than 20% since the beginning of the year and almost 33% in the past year. It was 4% away from hitting its 52-week low of ₹652. More than 3 lakh shares of the company exchanged hands at intraday trade on the market at 1.60 times the stock's 10-day average volume.

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