RVNL, IRCON International, YES Bank, Zomato shares rally amid high volumes; L&T, Dr Reddy's Labs log high turnovers

Shares of RVNL Ltd, Zomato Ltd, IRCON International Ltd and YES Bank were among most active stocks on NSE in terms of volumes.  Larsen & Toubro Ltd and Dr Reddy's Laboratories Ltd, which came out with less-than-expected quarterly results on Wednesday, on the other hand, saw huge turnover on the stock, data showed.

IRFC shares jumped 3.65 per cent to Rs 34.05, with the stock seeing volume of 5,35,79,442 shares, the second best on the exchange so far. Zomato shares advanced 2.02 per cent to Rs 63.05. A total of 2,36,24,349 shares changed hands on the counter by 10.15 am.

Share of RVNL climbed 4.97 per cent to Rs 127.90. This counter saw 2,29,40,445 shares changing hands amounting to Rs 287 crore. IRCON International (1,97,55,957 shares), Punjab National Bank (1,71,71,489 shares), YES Bank (1,27,70,421 shares), Suzlon Energy (1,16,54,644 shares) and Vodafone Idea (1,00,56,757 shares) were among stocks that jumped amid high volumes on NSE. The stocks gained up to 7 per cent.        

In value terms, Larsen & Toubro (L&T) saw a turnover of Rs 1,037.25 crore. This scrip was down 4.84 per cent to Rs 2,249.95, as a deterioration in core engineering and constriction (E&C) performance led to Ebitda miss in the March quarter. Analysts also found 12-15 per cent revenue growth and 10-12 per cent order growth guidance in FY24 uninspiring.

Dr Reddy's Labs saw a turnover of Rs 583 crore. This stock was down 6.35 per cent to Rs 4,558.35.

"Dr Reddy's Q4 earnings were below our estimates on account of lower gRevlimid sales which reflected in Ebitda and PAT misses. We have factored in Mayne Pharma acquisition into our estimates and expect it to be earnings accretive in FY24 itself. The US base business ex-Revlimid is around $250 million, in our view, which should see some improvement from upcoming launches (25-30 in FY24)," it said. 

HDFC Bank (Rs 534 crore), Adani Enterprises (Rs 504 crore), ICICI Bank (Rs 352 crore) and Axis Bank (rs 290 crore) were some other stocks with high turnover on NSE, data showed

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