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POST-MARKET REPORT
Indian benchmark indices climbed off the day’s high and closed on a mixed note on Tuesday, weighed down by muted sentiment across global peers.
At close, the BSE Sensex was down 52.63 points, or 0.07%, at 73,953.31 while Nifty was down 27.05 points, or 0.12%, at 22,529.05.
Gainers and Losers on Nifty: 23 of the 50 stocks on the Nifty 50 were trading in the red. Nestle India, Hero MotoCorp, Maruti Suzuki India, TCS, and UltraTech Cement, were the top drags, while Hindalco Industries, Coal India, JSW Steel, Tata Steel, and Adani Ports and SEZ, were the top gainers.
Gainers and Losers on Sensex: Half of the 30 stocks on the 30-stock BSE Sensex were in the red. JSW Steel, Tata Steel, Power Grid Corp., NTPC, and Tech Mahindra, were the top gainers, while Nestle India, Maruti Suzuki India, ICICI Bank, UltraTech Cement, and IndusInd Bank were the top drags.
Sectoral Indices today: The Metal Index was the top sectoral gainer, followed by the PSU Bank and Media indices. The Private Bank, FMCG, and Financial Services were the top sectoral drags.
Broader market indices today: The broader market indices were mixed, with the BSE SmallCap index down 0.14% and the BSE MidCap index up 0.33%.
STOCKS TODAY
IRFC: Shares of the railway PSU surged over 3 percent after the company reported a 34 percent rise in its profit to Rs 1,717.3 crore for the March 2024 quarter (Q4FY24) on account of higher income. Its total income rose to Rs 6,477.9 crore in the January-March quarter from Rs 6,230.2 crore in FY23.
Hindustan Zinc: Shares surged 20 percent, extending gains for the fifth straight session driven by expectations that the sharp rise in metal prices will enhance the company’s margins. Additionally, with stable production costs and higher selling prices, increased profits per unit sold are anticipated.
Rail Vikas Nigam: Shares of the Mini Ratna PSU surged 15 percent after the company bagged an order worth Rs 148 crore from the South Eastern Railway for designing, supply, erection, testing, and commissioning for the upgradation of an electric traction system for the Kharagpur division.
Bharat Electronics: Shares of BEL zoomed 5.8 percent to hit a fresh record high of Rs 283 apiece on NSE, a day after the company reported above-estimate earnings for the quarter ended March 2024, driven by better-than-expected EBITDA margin, PAT, and strong revenue growth. Up-fronting of order inflows led to a beat in overall order inflows for the company.
Aptus Value Housing Finance: Shares slumped 5 percent on May 21 after a large deal worth Rs 1,075 crore took place on the exchanges. Around 3.6 crore shares, making up a 7.2 percent stake in Aptus Value, changed hands in the large trade.
Balkrishna Industries: Balkrishna Industries’ shares surged over 9 percent to a fresh 52-week. The shares extended their gains from the previous session after posting better-than-expected Q4 earnings. The tyre manufacturer reported a massive 87.4 percent increase in net profit at Rs 486.8 crore as compared to Rs 260 crore in the year-ago period.
Solar Industries: Shares surged 5.16 percent after the defence firm reported its highest-ever net profit in the March quarter. The defence player’s net profit rose 10 percent to Rs 243 crore for the three months ended March, up from Rs 221 crore for the same quarter in the year-ago period. However, sales slipped 16 percent year-on-year to Rs 1,611 crore from Rs 1,929 crore a year ago.