It’s a weak Friday for the markets and the cut gets deeper in afternoon trade. The Nifty is struggling below 24,700 and the Sensex has fallen over 300 points. The cut is significantly larger in the broader markets with the BSE Smallcap and the BSE Midcap Index clocking near 1% losses each.
Here is a look at the top movers and shakers in trade today-
Sun Pharma
The Sun Pharma share price is down over 5% in trade today. The company declared its numbers and the net profit fell 20% along with missing estimates. Near-term margin pressure along with uncertainty with regards to the Trump tariff on pharma sector has been weighing on investor sentiment. However, most brokerage houses and analysts expect Sun Pharma to continue delivering healthy growth driven by new launches, particularly from its innovative pipeline. The company is also reinforcing its branded portfolio while maintaining cost competitiveness in the generics business.
PNB Housing
The PNB Housing Finance share price has tanked 17% in trade today. The company’s Managing Director and CEO, Girish Kousgi has resigned and will step down from his role from October 28. The bank, in a bid to allay investor fear, assured smooth transition. The board added that he will work close with the Board and senior management to ensure this. As per the company, its business strategy and growth trajectory remain firmly intact.
Trent
The share price of Trent is up nearly 5% in falling market. This Tata Group stock has seen a upward trajectory in the last 1 week. The company is on track in its expansions plans involving opening 250 new stores this fiscal. At the company’s 73rd Annual General Meeting, Chairman Noel Tata reaffirmed its focus on expanding its footprint, “We are focused on opening 250 stores every year and will exceed this if opportunities arise.”
Suzlon
The Suzlon share price jumped 7% in trade today, Motilal Oswal has Buy on the share price and sees as much as 34% upside over next 12 months. The Ministry of New and Renewable Energy (MNRE) on July 31 issued an amendment mandating use of major wind turbine components from the Approved List of Models and Manufacturers (Wind Turbine Components). The amendment also includes mandatorily locating Wind Turbine R&D Centre, Data Centre and/or Servers within India to strengthen the cybersecurity ecosystem.
Waaree Energies
Another renewable play, Waaree Energies share price is up 4% as well. The Ministry of New and Renewable Energy (MNRE) has come up with the first edition of ALMM List-II comprising solar PV cells. This list includes names fo 6 solar cell manufacturers. This comes into effect from July next year and boats of annual capacity over 13,000 MW.