Here are key stocks that moved the most on May 7

On the Nifty50 index, Tata Steel, Hindalco, Adani Ports, JSW Steel and SBI Life were the top gainers while Tata Consumer, Bajaj Auto, Hero Moto, Eicher Motors and UPL led the losses.

SBI Life: The share price of SBI Life Insurance Company (SBI Life) rose 3 percent as selling overhang eased on Friday after 4.1 crore shares of the firm changed hands via block deals. As per reports, US private equity fund CA Emerald Investments, an affiliate of Carlyle Asia Partners, was looking to sell a 3.5 percent stake in the firm worth $447 million or Rs 3,308 crore through the stock exchange platform on Friday, according to a term sheet issued by the sole book-runner JPMorgan. The sale price has been fixed at Rs 945 apiece, 2.5 percent lower than Thursday’s closing price of Rs 969.30 per share. CA Emerald Investments held a 6 percent stake in the company.

Tata Steel: The share price of Tata Steel surged over 7 percent after brokerages raised the price targets on the stock after the company’s March quarter earnings. Tata Steel, on May 5, posted a consolidated net profit of Rs 6,644.1 crore in the fourth quarter of fiscal 2021 as compared to a loss of Rs 1,481.3 crore in the year-ago quarter. Morgan Stanley maintained an Overweight rating on the stock and raised the target price (TP) to Rs 1,630 per share from Rs 1,000 earlier. Jefferies raised the target to Rs 1,500 from Rs 1,150 while maintained a Buy call. It upgraded FY22-23 EBITDA estimates by 28-48 percent and EPS by 51-81 percent.

Tata Consumer: Tata Consumer Products declined 3.5 percent after the company’s March quarter earnings missed street expectations. The company reported a consolidated net profit of Rs 53.9 crore in Q4FY21 as against a loss of Rs 76.49 crore in the year-ago quarter. The profit was higher on account of lower exceptional items and a lower share of losses in associates and joint ventures. Consolidated revenue during the quarter grew 26.3 percent to Rs 3,037.22 crore from Rs 2,405.03 crore, YoY.

Praj Industries: The share price of Praj Industries soared 7 percent after the company's net profit more than doubled in the March quarter. It reported a 109 percent rise in its consolidated profit after tax (PAT) at Rs 52 crore for the quarter ended March 2021 versus Rs 24.86 crore in the year-ago period. Income from operations for the industrial biotechnology company grew 91.40 percent to Rs 567.1 crore in Q4 as against Rs 296.29 crore in the year-ago period.

Vaibhav Global: Shares of Vaibhav Global rallied 15 percent after the stock turned ex-split. The company has split the stock in the ratio of 1:5, i.e. equity share of face value Rs 10 has been split into five shares of face value Rs 2. The company has fixed Monday, May 10, 2021, as the record date for determining the eligibility of shareholders for split/sub-division of equity shares.