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    Biggest gainers & losers of the day: PSU lenders gain up to 20%; TCNS Clothing tanks 6%

    Synopsis

    The PSU lenders stole the show, with three of the index constituents gaining as much as 20 per cent. None of the PSB shares ended in the red. However, the counters with a flop show in March 2021 quarters witnessed a sharp sell-off.

    FILE PHOTO: A broker reacts while trading at his computer terminal at a stock brokerage firm in MumbaiReuters
    Central Bank of India and Indian Overseas Bank gained on reports that the government has shortlisted them for privatisation.
    New Delhi: Domestic equity market staged a strong recovery, shunning the volatility witnessed in the morning session. A smart intraday rebound helped benchmark indices erase all the losses.

    BSE Sensex recovered almost 900 points from day's lows to end at 52,574.46, adding 230 points or 0.44 per cent. Nifty50 ended just shy of 15,750, snapping the three-day losing streak.

    However, the broader markets outperformed. The PSU lenders stole the show, with three of the index constituents gaining as much as 20 per cent. None of the PSB shares ended in the red. However, the counters with a flop show in March 2021 quarters witnessed a sharp sell-off.

    Here is a look at some of the biggest movers and shakers of Monday's session:
    TOP GAINERS OF THE DAY
    Arman Financial Services: The financial services company hit the upper circuit of 20 per cent at Rs 742.80 ahead of its quarterly results. The company board will meet on June 24, Thursday, to consider and approve the results for the quarter ended on March 31, 2021.

    Central Bank of India, Indian Overseas Bank: Central Bank of India and Indian Overseas Bank gained on reports that the government has shortlisted them for privatisation. The PSU lenders hit upper circuit of 20 per cent to Rs 24.30 and Rs 23.60, respectively.

    Jammu & Kashmir Bank: The PSU lender surged 20 per cent to Rs 39.35. The lender said its board has approved the proposal to raise up to Rs 150 crore by allotting shares to employees. The lender also turned profitable in the March 2021 quarter, reporting a net profit of Rs 316 crore.

    GMR Infra: The diversified infrastructure firm posted a consolidated loss of Rs 725 crore for the January to March quarter, which has narrowed down compared to a loss of Rs 1,127 crore in the year-ago period. The counter gained 10 per cent to Rs 30.90.

    Bandhan Bank: The private lender surged 10 per cent to Rs 341.10 after the Assam government on Friday signed an agreement with microfinance institutions (MFIs) to regularise stressed accounts and repay the entire loans of highly stressed borrowers.

    TOP LOSERS OF THE DAY
    TCNS Clothing: Shares of the apparel company tanked 6 per cent to Rs 596 before its March quarter results. The company is scheduled to announce its quarterly numbers today.

    PNB Housing Finance: The shares of housing finance company's share hit lower circuit after the Securities & Exchanges Board of India (Sebi) restrained PNB Housing Finance from going ahead with shareholders' voting on the proposed Rs 4,000 crore-deal with Carlyle group. The counter settled at Rs 702.40, down by 5 per cent.

    Vakrangee: Share of the IT software products firm slipped 3 per cent to 46.45 after it reported a fall in the bottomline in the March 2021 quarter. Net profit of Vakrangee declined 33.28 per cent to Rs 20.79 crore in the quarter ended March 2021 as against Rs 31.16 crore during the previous quarter ended March 2020.

    Deepak Fertilizers: The investors are taking some profit off the table after the 60 per cent rally in the last one month. The scrip ended at Rs 408.70, 5 per cent lower. The counter has tanked over 10 per cent in just two sessions.

    Balaji Telefilms: The media content producer almost doubled its consolidated net loss to Rs 118.9 crore for the fiscal ended 31 March 2021 from Rs 59 crore in the previous fiscal. Income slid 49 per cent to Rs 293.7 crore from Rs 573.6 crore in the previous fiscal. It shed 5 per cent to Rs 64.35.



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    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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