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POST-MARKET REPORT
Indian benchmark indices that largely traded in the green failed to maintain their momentum and closed marginally down in the red.
At close, the Sensex was down 7.65 points or 0.01 percent at 75,410.39, and the Nifty was down 10.55 points or 0.05 percent at 22,957.10.
Gainers and Losers on Nifty: 18 of the 50 stocks on the Nifty 50 were trading in the green. HDFC Bank, Larsen & Toubro, BPCL, Bharti Airtel, and Coal India were the top gainers, while Adani Ports & SEZ, TCS, Tata Consumer Products, ITC, and Mahindra & Mahindra were the top drags.
Gainers and Losers on Sensex: 10 out of the 30 stocks on the BSE Sensex were trading in the green. HDFC Bank, Larsen & Toubro, Bharti Airtel, NTPC, and Axis Bank were the top gainers, while ITC, TCS, Tech Mahindra, Mahindra & Mahindra, and Titan were the top drags.
Sectoral Indices today: Barring Bank, Financial services, Auto, Media, and Oil & Gas, all other sectoral indices were trading in the red. Further, FMCG, IT, Pharma, and Health were the top drags.
Broader market indices today: The broader market indices were trading on a mixed note, with the BSE SmallCap down 0.14% and the BSE MidCap down 0.26%.
STOCKS TODAY
Landmark Cars: Shares slipped over 5 percent after the company’s March quarter net profit witnessed a considerable dip. The luxury car dealer’s net profit for the fiscal fourth quarter nosedived over 54 percent to Rs 11 crore as against Rs 24.26 crore reported during the year-ago period.
Page Industries: The Jockey India operator recouped early losses on bargain buying. The share had declined two percent in the morning trade as the branded apparel player continues to see weakness in sales growth. Page Industries reported total revenue of Rs 995.3 crore for the March quarter, rising 3.2 percent from Rs 964.6 crore in the year-ago period.
Bharat Dynamics: Shares of Bharat Dynamics a Miniratna defense PSU – staged a 10.44 percent surge to hit an adjusted 52-week high of Rs 1,658.95, extending a nine-day run-up that saw a massive gain of 70 percent. The company traded ex-split on May 24, after having recently announced it will divide one equity share with a face value of Rs 10 into two shares of face value of Rs 5 each.
Zaggle Prepaid Ocean Services: Shares rose after the company posted its highest-ever quarterly net profit for the January-March quarter of FY24. The company’s net profit came at Rs 30 crore in Q4 of FY24 as against a loss of Rs 160 crore a year ago. It is also worth noting that the company suffered an exceptional loss of Rs 155 crore in the year-ago period. Its revenue grew 21.46 percent to Rs 471.09 crore in the March quarter.
Finolex Cables: Shares surged 12 percent on the back of strong January-March quarter (Q4FY24) performance, which beat Street estimates. Consolidated net profit rose 6.3 percent year-on-year (YoY) to Rs 186 crore in Q4FY24. Revenue from operations increased by 18.3 percent YoY to Rs 1,450 crore in Q4FY24.
Bikaji Foods International: Shares surged over 3 percent after the company posted a massive 200 percent jump in net profit at Rs 116.28 crore in the quarter ended March 31, compared to Rs 38.67 crore in the year-ago period. Revenue from operations also rose 12.8 percent to Rs 520.82 crore in the March quarter, from Rs 461.69 crore in the same period last year.