Indian Stocks Under the Spotlight on 12 May 2023
The Indian stock market was volatile on 12 May 2023, with some stocks seeing positive sentiment and others negative.
Positive Sentiment
- Dr Reddy’s Laboratories shares rose over 1% after the company announced that it had received USFDA approval for a new drug.
- Adani Green Energy shares rose over 1% after the company announced that it had won a contract to develop a solar project in Gujarat.
- Hindustan Unilever shares rose over 1% after the company reported its quarterly earnings, which beat analyst expectations.
Negative Sentiment
- Reliance Industries (RIL) shares fell over 2% after MSCI announced that it would be assigning a lower weightage to the merged entity.
- Infosys shares fell over 1% after the company reported its quarterly earnings, which missed analyst expectations.
- Tata Motors shares fell over 1% after the company announced that it would be recalling 1.3 lakh vehicles due to a safety issue.
- HDFC Bank shares fell over 1% after the company reported its quarterly earnings, which missed analyst expectations.
- L&T shares fell over 1% after the company reported its quarterly earnings, which missed analyst expectations.
- Adani Transmission shares fell over 1% after the company was excluded from the MSCI India index.
It is important to note that these are just a few of the many Indian stocks that were impacted by news on 12 May 2023. The overall sentiment for each stock may vary depending on the specific news that was released.
It is also important to remember that the stock market is volatile and that past performance is not necessarily indicative of future results. Investors should always do their own research before making any investment decisions.
Title: Indian Stocks Under the Spotlight on 12 May 2023
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