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POST-MARKET REPORT
Indian markets managed to maintain their momentum on Friday, even as global peers eased on hints that Fed bank’s interest rates could stay higher for longer.
At close, Sensex was up 253.31 points, or 0.34%, at 73,917.03 while the Nifty 50 was up 62.25 points, or 0.28%, at 22,466.10.
Gainers and Losers on Nifty: Half of the stocks on the 50-stock Nifty 50 were in the green. TCS, Cipla, SBI Life, HCLTech, and Bajaj Auto, were the top drags, while Mahindra & Mahindra, JSW Steel, UltraTech Cement, Grasim Industries, and Kotak Mahindra Bank, were the top gainers.
Gainers and Losers on Sensex: 14 of the 30 stocks on the BSE Sensex were in the red. TCS, HCLTech, Hindustan Unilever, Nestle India, and Wirpo, were the top drags, while Mahindra & Mahindra, JSW Steel, UltraTech Cement Co, Kotak Mahindra Bank, and ITC, were the top gainers.
Sector Indices today: The Consumer Durables, Auto, Metal, Realty, and Oil & Gas indices were the biggest sectoral gainers, while IT, Pharma, and Healthcare, were the biggest drags.
Broader market indices today: The broader market indices had outperformed the benchmark indices, with the BSE SmallCap gaining 1.40% and the BSE MidCap index gaining 1.22%.
STOCKS TODAY
Kaynes Technology: Shares of the company surged over 20 percent in trade after the company reported an upbeat January-March quarter (Q4FY24) performance. Its consolidated net profit jumped 96.8 percent year-on-year (YoY) to Rs 813 crore in Q4FY24, while revenue from operations increased 74.8 percent YoY to Rs 637.3 crore.
Crompton Greaves Consumer Electricals: Shares closed a massive 15 percent higher after the FMEG player reported a 56 percent sequential jump in consolidated net profit. Revenue came in at Rs 1,961 crore, higher by nine percent YoY from Rs 1,791 crore in the same quarter during the year-ago period.
Honeywell Automation: Shares slumped 6 percent on profit booking after hitting a lifetime high in the previous session. The engineering firm’s profit jumped 32 percent to Rs 148 crore for the quarter ended March 31, up from Rs 112 crore a year ago. Revenue from operations increased nearly 12 percent year-on-year to Rs 951 crore.
Endurance Technologies: Endurance Technologies’ share price zoomed 7 percent after the automotive components manufacturer has recorded a 54 percent on-year jump in consolidated net profit for the quarter ended March.
Info Edge: Naukri parent Info Edge gained 6 percent in trade on May 17, after the firm’s bottom line swung into the black for the quarter that ended March. It registered a net profit of Rs 162 crore in Q4, compared to a loss of Rs 447 crore in the year-ago period.
Motherson Sumi Wiring India: Motherson Wiring shares slipped around 2 percent from intraday highs after its revenue for the three months ended March came in under expectations. According to the company’s regulatory filing, total revenue from operations rose 19 percent on-year to Rs 2,232.67 crore from Rs 1,871.96 crore in the previous fiscal year.
Wonderla Holidays: Shares fell nearly 5 percent, extending fall to the second session following weak Q4 results. Gross revenue dropped by 7 percent on year to Rs 104.8 crore in Q4FY24 while profit-after-tax (PAT) declined by 35.4 percent to Rs 22.6 crore.