Indian equity benchmarks fell sharply in early deals on Monday. The domestic indices halted their nine-day winning run today as technology stocks tanked on Infosys Q4 performance. Shares of Infosys hit a fresh 52 week low of Rs 1219, falling up to 12.21% in early trade.
Infosys reported a 7.8 per cent year-on-year (YoY) rise in consolidated net profit at Rs 6,128 crore for the March quarter compared with Rs 5,686 crore in the same quarter last year. Meanwhile, the 30-share BSE Sensex slumped 773 points or 1.28 per cent to 59,657, while the broader NSE Nifty lost 225 points or 1.26 per cent to trade at 17,602 .
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "The FPI trend has suddenly changed for the better in April. FPIs were buyers in all days of April so far having bought equity for Rs 7531 crore (NSDL). India has been one of the best investment destinations for FPIs among emerging markets in April so far. FPIs were continuous buyers in the market during the last ten trading days and the market posted continuous gains during the last nine trading days.”
The stock of rose up to 17.54% to Rs 3.50 against the previous close of Rs 2.98 on BSE. It has gained after two sessions of fall. The market cap of the firm stood at Rs 2.27 crore.
Shares of Siel Financial Services climbed up to 19.94% to Rs 11.79 in early trade. The market cap of the firm rose to Rs 13.15 crore. The stock has gained after three sessions of fall.
Shares of National Fittings zoomed 20% today after the firm said it has zero default in terms WC Term Loan, Packing Credit and Foreign Bill Purchase (FBP/FBN). The stock rose 20% to an intraday high of Rs 83.60 against the previous close of Rs 69.67 on BSE. Earlier, the stock opened at Rs 83.60. The market cap of the firm rose to Rs 75.94 crore.
The stock rose up to 5.01% to Rs 279 against the previous close of Rs 265.70 on BSE. The stock opened higher at Rs 267.95. The market cap of the firm rose to Rs 6327 crore.
Shares of IOL Chemicals & Pharmaceuticals were among the top gainers in early trade, rising 10.81% to Rs 396.15 on BSE. The market cap of IOL Chemicals stood at Rs 2295 crore. The stock closed at Rs 357.50 in the previous session and opened at Rs 367 today.
Shares of the firm rose up to 3.45% to Rs 448.3 in early trade. The market cap of the firm climbed to Rs 6239.22 crore. The stock closed at Rs 433.35 in the previous session and opened at Rs 433.75 today. Kirloskar Ferrous Industries Limited is engaged in the business of Pig Iron and Iron Castings.
The stock surged up to 4% to Rs 165.2 against the previous close of Rs 158.85 on BSE. The market cap of the firm climbed to Rs 5212 crore. The stock opened at Rs 159.05 today. EPL Limited is a global tube-packaging company headquartered in Mumbai.
The stock touched an intraday high of Rs 582.55, rising 12.04% against the previous close of Rs 519.95 on BSE. The market cap of the firm climbed to Rs 3,909 crore. Total 0.13 lakh shares of the firm changed hands on BSE. The firm is a process equipment manufacturer and solution provider to the chemical and pharmaceutical industry.
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