Biggest gainers & losers of the day: IFB Agro zooms 19%; PTC India tanks

New Delhi: The domestic equity market continued to bleed for the third consecutive session on Thursday on persistent concern over global inflation and likely Fed rate hike. IT, pharma and FMCG names were the most under pressure, whereas metals and realty saw some demand.

The 30-share pack Sensex tanked 634.20 points or 1.06 per cent to close at 59,464.62. Its broader peer Nifty50 dropped 181.40 points or 1.01 per cent to 17,757. The broader markets outperformed benchmark indices as BSE smallcap index settled in the green while the BSE Midcap index settled marginally down by 0.07 per cent.

Ajit Mishra, VP - Research, Religare Broking, said, "Markets remained under pressure for the third successive session and lost nearly a per cent. The tone was negative from the beginning, tracking weak global cues which further deteriorated as the day progressed. However, a rebound in the final hour trimmed some losses."

PTC India Financial Services and its parent company PTC India faced intense selling pressure. Hikal, Mastek and Sterlite Tech also tanked. IFB Agro topped and Just Dial, on the other hand, showed decent strength.

Let's have a look at the biggest movers and shakers of Thursday's session:

LOSERS
PTC India Financial Services: The NBFC tanked about 19 per cent to Rs 20.90 following the resignation of all three independent directors from the company, citing the corporate governance issues and other matters.

Hikal: The pharmaceutical firm has been in a freefall, dropping 33 per cent since January 5, following the investigation over the disposal of 25,000 liters of chemical called Sodium Hydro Sulphide. The scrip settled at 389.45, 12 per cent lower.

Mastek: IT software player tumbled 12 per cent to Rs 2,847.after the company reported muted earnings for the December quarter. It reported a 2.4 per cent QoQ and 18.7 per cent YoY growth in Q3FY22 net profit at Rs 83.50 crore.

Sterlite Technologies: The IT player continued to bleed after the company posted a consolidated loss of Rs 137 crore on account of one-time provisioning for dues from a client. It scrip plunged 11 per cent to Rs 222.10.

PTC India: The electrical utility player was on radar of investors and dropped 11 per cent to Rs 100.55 following questions of corporate governance on its subsidiary PTC India Financial Services where three independent directors resigned from their positions.

Oracle Financial Services Software: The IT firm declined 7 per cent to Rs 3,700 as its consolidated net profit declined 3 per cent to Rs 435.34 crore on a fall in revenue from operations to Rs 1,266.33 crore in Q3FY22 over Q2FY22.

GAINERS
IFB Agro Industries: The breweries and distilleries player zoomed 19 per cent to Rs 862.30 as the company is likely to invest Rs 40 crore in the promoter group company IFB Refrigeration in one or more tranches, said reports.

Just Dial: The internet based local search platform surged 14 per cent to Rs 925.05 as analysts bet on the aggressive growth plans of the company, with backing from Reliance Industries.

Control Print: The domestic coding and marking player jumped 12 per cent to Rs 431.15 on the back of strong technical set up on the daily charts. Recently, ace investor Dolly Khanna had picked up a minority stake in the company.

Greaves Cotton: The electric vehicle player has been in demand lately following its strong performance in December quarter. The scrip has zoomed 83 per cent in the last one month. On Thursday, it added 9 per cent to Rs 249.45.

La Opala RG: The kitchenware player surged 8 per cent to Rs 414.10 as seasoned investors Ashish Kacholia picked 11,56,923 equity shares or 1.04 per cent stake in the company during the December 2021 quarter.

Tata Elxsi: The Tata Group's IT player remained in demand and gained 7 per cent to Rs 7,448.15 following a strong performance in the December quarter and upgrades from brokerages who have raised the target price for the counter.