Top Gainers of the Day: M&M, Tech Mahindra, Cipla Shine as Sensex, Nifty Slip Over 1%

The benchmark equity indices, BSE Sensex and NSE Nifty 50 closed the first trading session of the week in negative territory, each down by over 1%. 

The BSE Sensex dropped 941.88 points, or 1.18%, to 78,782.24. Similarly, the NSE Nifty 50 fell by 309 points, or 1.27%, to 23,995.35.

Out of the 50 stocks in the Nifty50 index, here are the top 5 gainers for the day- 

• Mahindra And Mahindra Ltd

Mahindra And Mahindra Ltd share price closed at ₹2,878.00, reflecting a 2.14% rise. It shares rose by more than 2% on November 4 after the company reported a strong 25% year-on-year increase in SUV sales. In October, they reached a record high of 54,504 units, marking their best monthly sales figure to date.

• Tech Mahindra Ltd

Tech Mahindra Ltd share price closed at ₹1,633.40, reflecting a 1.86% rise. 

• Cipla Ltd

Cipla Ltd share price closed at ₹1,584.00, reflecting a 1.57% rise. Cipla’s growth outlook has improved following the surprise regulatory clearance of its Goa facility, which will produce the key oncology drug Abraxane. The facility faced delays after the US FDA issued six observations in June, pushing back the drug’s launch timeline. Now, with the clearance, Abraxane’s launch is set to proceed.

• State Bank of India Ltd

State Bank of India Ltd share price closed at ₹830.25, reflecting a 1.10% rise. 

• Dr Reddy’s Laboratories Ltd

Dr Reddy’s Laboratories Ltd share price closed at ₹1,269.95, reflecting a 0.82% rise. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.