Last-hour selling on expiry day drags market down, Sensex was down 193.70 points or 0.31 percent at 62,428.54, and the Nifty was down 46.60 points or 0.25 percent at 18,487.80. Take a look at the gainers and losers of the day:
Olectra Greentech | CMP Rs 762 | Shares of Olectra Greentech jump 3.72 percent after a slew of electric bus order wins. In March, the company bagged an order for 550 electric buses from Telangana State Road Transport Corporation. A month earlier, the company announced a tie-up with Reliance Industries for developing hydrogen buses.
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VST Tillers Tractors | CMP Rs 2,786.50 | Shares of VST Tillers Tractors recovered and rose 3 percent intraday after the company released its monthly sales figures. The stock closed a percent down. Total power tiller and tractor sales for May 2023 came in at 3,756 as compared to 3,628 reported in May 2022. Power tiller sales increased to 3,319 from year ago’s 3,037, whereas sale of tractors fell to 437 from 591.
3M India | CMP Rs 93.31 | Shares of 3M India Ltd rallied 3 percent intraday, hitting new 52-week highs in trade after posting robust Q4 results. The share however closed 2 percent lower dragged down by expiry selling. Quarterly net profit rose 24 percent year-on-year to Rs 136 crore, driven by strong demand in its transportation and electronics division. Consolidated revenue from operations for 3M India rose by 13 percent YoY to Rs 1046 crore.
Kaushalya Infrastructure Development Corp Ltd | CMP Rs 5.75 | Kaushalya Infrastructure Development Corp Ltd has seen its stock hitting the 20 percent upper circuit for two consecutive sessions following its March quarter earnings. Remarkably, this surge occurred despite significant trading volumes. The upward movement in the stock commenced after the company reported a substantial increase in net profit for the March quarter. Compared to Rs 1.91 crore in the previous year, the firm achieved a consolidated net profit of Rs 15.17 crore.
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RBL Bank | CMP Rs 168.55 | Shares of RBL Bank rallied 4 percent in early trade, post an analyst meet.According to a corporate filing on 31st May 2023 with the NSE, the RBL bank disclosed that they have conducted an analyst meet with Dimensional Securities Private Limited in Mumbai. Recently, the private sector lender has also reported their Q4 results.
EID Parry | CMP Rs 486.30 |Shares of EID Parry (India) rose nearly 3 percent, buoyed by the company's strong growth guidance for the upcoming fiscal years. In the fourth quarter, the sugar manufacturer reported a consolidated net profit of Rs 286.90 crore, a 33 percent year-on-year decline. The bottomline was largely dragged by a weak operational performance due to elevated input costs.
Sobha Realty | CMP Rs 556.05 | Sobha rose 6 percent with Nifty Realty being top sectoral indices gainer driven by boost from an encouraging trend in real estate registration data in Mumbai, which shows the demand for property has not gone down despite a rise in interest rates.
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Welspun Corp | CMP Rs 259.75 |Shares of Welspun Corporation gained by 2 percent and was up for second straight session today with the Street cheering the company’s guidance for FY24. For the fiscal year 2024, Welspun Corp aims to achieve a topline of Rs 15,000 crore, representing a strong growth of approximately 50 percent. Furthermore, their target for EBITDA stands at Rs 1,500 crore, reflecting an expected growth of around 90 percent.
Narayana Hrudayalaya | CMP Rs 907 | Shares of Narayana Hrudayalaya surged nearly 1.5 percent and also scaled a fresh 52-week high of Rs 927.95, buoyed by the company's strong growth prospects. During the January-March period, the company's net profit surged threefold on-year to Rs 173.2 crore on a topline of Rs 1,221.60 crore, up 30 percent. The revenue in the fourth quarter was also the highest ever.
South Indian Bank | CMP Rs 18.90 | Shares of South Indian Bank Ltd jumped 9.5 percent today post the bank board’s approval of the panel of candidates for MD & CEO positions. According to the filing with BSE on May 31, 2023, the Bank will be submitting its application to the Reserve Bank of India with the names of the candidates, seeking approval for the appointment of the new MD & CEO.
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