Benchmark indices ended on a negative note on May 30. At close, the Sensex was down 617.30 points or 0.83 percent at 73,885.60, and the Nifty was down 216.05 points or 0.95 percent at 22,448.65.
2/11
KNR Constructions | CMP: Rs 302.90 | Shares of the infra developer jumped 8.2 percent after the company reported stellar earnings for the quarter ended March 2024. Its net profit surged 140 percent on-year to Rs 353 crore and net sales rose 13.54 percent YoY to Rs 1,414 crore during the quarter under review.
3/11
ISGEC Heavy Engineering | CMP: Rs 984 | Shares of the company nosedived over 16 percent, a day after the company reported disappointing earnings for the quarter ended March 2024. Its net profit fell 17.2 percent on-year to Rs 71.30 crore and sales declined 8.5 percent YoY to Rs 1,867.96 crore during the quarter under review.
4/11
Paytm | CMP: Rs 377.40 | Shares of the company hit 5 percent upper circuit for the second straight session. The stock has seen a sharp rally after a report said that billionaire Gautam Adani is considering buying a stake in Paytm's parent company One97 Communications. Paytm, however, issued a clarification later stating that the report was nothing but speculation.
Lemon Tree Hotels | CMP: Rs 138.25 | The stock of this hotel chain jumped more than 6 percent on May 30 after the company reported a strong January-March quarter (Q4FY24) performance. The company’s net profit rose 52.1 percent YoY to Rs 67 crore in Q4FY24, while revenue from operations increased 29.7 percent YoY to Rs 327 crore. The stock ended pared gains to end marginally lower.
6/11
Indian Bank | CMP: Rs 577 | The stock of this PSU lender surged 3.4 percent intraday to hit an all-time high of Rs 582 per share on May 30 after credit ratings agency S&P Global Ratings reaffirmed their 'BBB-' long-term and 'A-3' short-term issuer credit ratings and revised outlook to 'positive' from 'stable.' It trimmed gains to end marginally higher.
7/11
Tata Steel | CPM: Rs 165.20 | Tata Steel shares fell 5 percent after the Tata Group firm reported 64 percent fall in net profit for the quarter ended March. Tata Steel reported 64 percent decline in Q4 net profit (attributable to owners) at Rs 611.48 crore amid lower steel realisations and poor performance in the steelmaker's international operations.
8/11
Edelweiss Financial Services | CMP: Rs 68.45 | Edelweiss Financial Services stock price tanked 11.6 percent after the RBI imposed restrictions on two of its financial services entities, citing material supervisory concerns.
CG Power | CMP: Rs 648.65 | Shares gained 2.6 percent after international brokerage UBS hiked the target price on positive growth prospects. The broking firm has assigned a new target price of Rs 850. Analysts suggest that the company is a prudent capital allocator and timely fund allocation will drive bottomline in the coming quarters.
10/11
Kfin Technologies | CMP: Rs 676 | Shares slipped 9 percent after a block deal involving a 6 percent equity stake in financial services firm took place on the exchanges at a floor price of Rs 720 apiece. CNBC-TV18, citing sources, had reported that General Atlantic Singapore is the likely seller in the deal.
11/11
Sun Pharmaceutical | CMP: Rs 1,465.20 | Sun Pharma shares fell over 1 percent after reports suggested that the US FDA issued four observations to one of the pharma major's manufacturing facilities. According to CNBC-TV18, the US FDA inspected Sun Pharma's Dahej facility between May 10 - May 17, following which it issued four observations along with the Form 483.
