The BSE Sensex surged by 253.31 points, or 0.34%, reaching a closing figure of 73,917.03. Similarly, the NSE Nifty 50 also exhibited a positive trend, concluding the day’s trading with a gain of 62.25 points, or 0.28%, settling at 22,466.10.
In a volatile trading session, the Indian stock market witnessed significant movements across various sectors, with several companies reporting their quarterly earnings.
Here’s a comprehensive overview of the major gainers and losers in Today’s trading:
Kaynes Technology: Shares of Kaynes Technology surged over 20 percent following the company’s robust performance in the January-March quarter. The company reported a stellar 96.8 percent year-on-year jump in consolidated net profit, reaching Rs 813 crore. Additionally, revenue from operations witnessed a substantial increase of 74.8 percent YoY, amounting to Rs 637.3 crore.
M&M: M&M’s stock closed nearly 6 percent higher as brokerages raised their target prices post the company’s strong Q4 results. With promising growth prospects in the auto segment and expectations of a recovery in the farm equipment business for FY25, investor sentiment remained bullish on M&M.
Crompton Greaves Consumer Electricals: Shares of Crompton Greaves surged a massive 15 percent after the company reported a remarkable 56 percent sequential jump in consolidated net profit. Revenue also saw a significant uptick, rising by nine percent YoY to Rs 1,961 crore.
eClerx Services: On the flip side, eClerx Services witnessed a 5.5 percent decline in its stock price due to weak Q4 earnings. The IT firm reported a drop in consolidated net profit, along with a slight increase in net sales for the quarter.
Wonderla Holidays: Shares of Wonderla Holidays fell nearly 5 percent following disappointing Q4 results, with gross revenue and profit-after-tax witnessing declines. The company reported a 7 percent drop in gross revenue and a 35.4 percent decline in PAT for Q4FY24.
Honeywell Automation: Honeywell Automation shares slumped 6 percent on profit booking despite the company reporting a 32 percent jump in profit for the quarter ended March 31. Revenue from operations also saw a significant increase year-on-year.
Krishna Institute of Medical Sciences (KIMS): KIMS Hospitals reported a 29 percent fall in consolidated net profit for the March quarter, leading to a 2 percent decline in its share price. However, revenue for the quarter witnessed a 10 percent increase.
Endurance Technologies: Endurance Technologies’ share price zoomed 7 percent after the automotive components manufacturer 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 after registering 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: Shares of Motherson Wiring slipped around 2 percent following revenue figures for the quarter ended March that came in under expectations.
Overall, the stock market witnessed a mixed bag of performances, with several companies delivering strong results, while others faced challenges in meeting market expectations. Investors continue to closely monitor earnings reports and market developments to make informed investment decisions amidst ongoing volatility.
