Top gainers and losers on October 1: Tata Motors, Shriram Finance, Kotak Bank rise over 3.76%; check full list

The Indian equity benchmarks snapped their eight-day losing streak on Wednesday, October 1, led by gains in rate sensitive shares after the Reserve Bank of India raised economic growth forecast and lowered inflation projection for the current financial year. The RBI raised its GDP growth forecast to 6.8% for the current financial year from its earlier estimate of 6.5%. and lowered its inflation projection to 2.6% hinting at rate cuts going ahead. The SENSEX rose as much as 801 points and NIFTY50 index reclaimed its important psychological level of 24,850.

The SENSEX surged 716 points to close at 80,983 and NIFTY50 index climbed 225 points to settle at 24,836.

NIFTY50 gainers and losers

Tata Motors was top gainer in the NIFTY50 index, the stock rose 5.56% after its highly anticipated demerger came into effect today.

Furthermore, the auto giant set October 14 as the record date for ascertaining the shareholders who shall be issued and allotted shares of the demerged entity. This means the very next day after the record date, Tata Motors’ existing shares will turn ex-commercial vehicle business and will be renamed Tata Motors Passenger Vehicles Ltd (TMPVL).

Shriram Finance (5.16%), Kotak Mahindra Bank (3.76%), Trent (3.54%) and Adani Enterprises (3.53%) were also among the gainers.

On the flipside, Bajaj Finance was top loser in the NIFTY50 index, the stock fell 1.16% to close at ₹987. State Bank of India (-0.84%), Ultratech Cement (-0.7%) and Bajaj Auto (-0.72%) were also among the losers.

NIFTY Midcap 100 gainers and losers

NIFTY Midcap 100 index rose 0.9% or 500 points to close at 57,030. As many as 74 shares ended higher while 26 closed lower.

KPIT Technologies was top gainer in the NIFTY Midcap 100 index, the stock rose 4.86% to close at ₹1,151 after reports suggested that global investment firm Goldman Sachs said that it will report subdued September quarter.

Goldman Sachs, according to a report by CNBC-TV18, expects KPIT Tech's organic constant currency (CC) revenue to decline by 2% during the quarter, and its revenue in US dollar terms to decline by 1% on a sequential basis.

The Caresoft acquisition, which the company closed last month, should contribute around $4 million in additional revenue, according to Goldman Sachs.

Vodafone Idea (4.55%), Nykaa (4.16%), Cochin Shipyard (4.10%) and HUDCO (3.97%) were also among the gainers.

On the other hand, ITC Hotels (-2.47%), HPCL (-2.14%), Cummins India (-1.99%), Indian Bank (-1.78%) and PB Fintech (-1.70%) were losers in the NIFTY Midcap 100 index.

NIFTY Smallcap 100 gainers and losers

NIFTY Smallcap 100 index rose 1.1% or 193 points to close at 17,756. As many as 75 shares in the NIFTY Smallcap 100 index ended higher while 25 closed lower.

Neuland Labs was top gainer in the NIFTY Smallcap 100 index, the stock rose 5.43% to close at ₹15,398.

GRSE (4.98%), Piramal Pharma (4.19%), Laurus Labs (3.77%) and International Gemmological Institute (3.68%) were also among the gainers.

On the contrary, Delhivery (-3.31%), Aditya Birla Real Estate (-2.63%), KEC International (-2.21%), Ola Electric (-2.19%) and Redington (-1.75%) were laggards in the NIFTY Smallcap 100 index.