These are some stocks that moved significantly either throughout the trading session or from close-to-close. Along with the stock, our partners at Benzinga have provided an assessment for what likely drove these intraday price movements.
How can traders use this? These could be potential trading opportunities if you believe that the market overreacted or underreacted.
| Symbol | Why Did It Move? |
|---|---|
| JSW STEEL LTD. | JSW Steel shares are trading higher after the company achieved the highest-ever Consolidated crude steel production volume at 24.15 million tonnes in FY2023, up 24% YoY. Consolidated crude steel production rose 13% YoY at 6.58 million MT for Q4FY23. |
| IDFC First Bank Ltd | IDFC First Bank shares are trading lower. The lender hikes lending rates by 20-25 bps across tenures. |
| MULTI COMMODITY EXCHANGE OF INDIA LTD. | Multi Commodity Exchange of India shares are trading higher after the company updated regarding amendments in the Articles of Association and Memorandum of Association. |
| ORACLE FINANCIAL SERVICES SOFTWARE LTD. | Oracle Financial Services Software shares are trading higher along with most tech stocks after Gartner upgrades worldwide IT spending forecast. Gartner now expects Worldwide IT Spending to grow 5.5% in 2023 vs. the prior expectation of 2.4%. |
| Indian Energy Exchange Ltd | Indian Energy Exchange shares are trading higher after Arihant Capital issued a Hold rating for a target price of ₹186-₹210 with a stop loss at ₹132. |
| APOLLO TYRES LTD. | Apollo Tyres shares are trading higher after Globe Capital issued a Buy call on its futures for a target price of ₹333-₹336 with a stop loss of ₹325. |
| Zydus Lifesciences Ltd | Zydus Lifesciences shares are trading higher after receiving final approval from the USFDA for Azithromycin Tablets USP, 500 mg. Azithromycin Tablets USP, 500 mg, had annual sales of $20 mn in the US, according to IQVIA MAT February 2023. |
| WIPRO LTD. | Wipro shares are trading higher along with several tech stocks after Gartner upgrades worldwide IT spending forecast. Gartner now expects Worldwide IT Spending to grow 5.5% in 2023 vs. 2.4% growth expected in January. |
| L&T Technology Services Ltd | L&T Technology Services shares are trading higher along with most tech stocks after Gartner upgrades worldwide IT spending forecast. Gartner now expects Worldwide IT Spending to grow 5.5% in 2023 vs. the prior expectation of 2.4%. |
| TECH MAHINDRA LTD. | Tech Mahindra shares are trading higher along with several tech stocks after Gartner upgrades worldwide IT spending forecast. Gartner now expects Worldwide IT Spending to grow 5.5% in 2023 vs. 2.4% growth expected in January. |
| ASHOK LEYLAND LTD. | Ashok Leyland shares are trading higher after Anand Rathi issued a Buy call for a target price of ₹144 for the short term. |
| HCL TECHNOLOGIES LTD. | HCL Technologies shares are trading higher along with most tech stocks after Gartner upgrades worldwide IT spending forecast. Gartner now expects Worldwide IT Spending to grow 5.5% in 2023 vs. 2.4% growth expected in January. |
| UPL Limited | UPL shares are trading higher after Globe Capital issued a Buy call for a target price of ₹750-₹760 with a stop loss of ₹728. |
| TATA CONSULTANCY SERVICES LTD. | Tata Consultancy Services shares are trading higher along with several tech stocks after Gartner upgrades worldwide IT spending forecast. Gartner now expects Worldwide IT Spending to grow 5.5% in 2023 vs. 2.4% growth expected in January. |
| MPHASIS LTD. | Mphasis shares are trading higher along with most tech stocks after Gartner upgrades worldwide IT spending forecast. Gartner now expects Worldwide IT Spending to grow 5.5% in 2023 vs. the prior expectation of 2.4%. |
| Coforge Ltd | Coforge shares are trading higher along with most tech stocks after Gartner upgrades worldwide IT spending forecast. Gartner now expects Worldwide IT Spending to grow 5.5% in 2023 vs. 2.4% growth expected in January. |
| SHREE CEMENT LTD. | Shree Cement shares are trading lower after a block deal on NSE comprising 11,603 shares at ₹26368/share worth ₹30.60 crore. |
| BANK OF BARODA | Bank of Baroda shares are trading lower after Choice Broking issued a technical Sell call with a target price of ₹160-₹158 and a stop loss at ₹170. |
| INDIAN HOTELS CO.LTD. | Indian Hotels Company shares are trading higher after Arihant Capital issued a technical Buy call for a target price of ₹396-₹420 with a stop loss at ₹290. |
| MUTHOOT FINANCE LTD. | Muthoot Finance shares are trading higher after the company’s board approved an interim dividend of ₹22 per share. The ex-dividend date is April 18. |
| ICICI Lombard General Insurance Company Ltd | ICICI Lombard General Insurance Company shares are trading higher as the company’s March premium grew 7% YoY. The premium in FY23 increased by 17% YoY. |
| Indian Railway Catering and Tourism Corporation Ltd | Indian Railway Catering and Tourism Corporation shares are trading higher, not seeing company-specific news from the session. |
| CAN FIN HOMES LTD. | Can Fin Homes shares are trading higher after stock expert Kushal Gupta issued a Buy call with a target price of ₹635 for the next six months. Source: ZEE Business |
| TORRENT POWER LTD. | Torrent Power shares are trading higher, reversing losses after emerging as the lowest bidder for an Indian Gas-based power supply contract. Source: Reuters |
| HINDUSTAN UNILEVER LTD. | Hindustan Unilever shares are trading lower as Skymet predicts ‘below normal’ monsoon rains in 2023. |
| NESTLE INDIA LTD. | Nestle India shares are trading lower after Skymet predicts ‘below normal’ monsoon rains in 2023. |