Hot stocks on April 22: IREDA, Vodafone Idea, Venus Pipes, Triveni Engineering and more
Produced by: Aseem Thapliyal
Sensex, Nifty trading in green
The domestic equity market was trading higher in the afternoon session today. Sensex rose 405 points to 73,493 and Nifty gained 144 pts to 22,291.
Time to accumulate high quality largecaps
VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, “The biggest positive for the market in the near-term is that the feared escalation in the Israel-Iran tension is unlikely to happen. Israel didn’t officially confirm its strike in Iran and Iran downplayed the Israeli strike by ignoring it. The takeaway is that both sides don’t want an escalation of tensions. FII selling will provide opportunities to investors to slowly accumulate high quality largecaps like HDFC Bank which has reported good Q4 results with improving margins.”
Persistent Systems
Shares of Persistent Systems fell over 7% in early deals today after the IT firm reported a 10.2% rise in March quarter profit. Profit grew 10% to Rs 315.3 crore in Q4 against Rs 286.1 crore in the December 2023 quarter. Persistent Systems shares fell 7.62 percent to Rs 3591.62 on Monday against the previous close of Rs 3887.60 on BSE. Market cap of the firm slipped to Rs 55,626 crore on BSE.
Venus Pipes & Tubes
The maker of stainless steel pipes and tubes hit an all-time high of Rs 2188, rising 12.11% on BSE in early deals today. Total 0.12 lakh shares of Venus Pipes changed hands amounting to a turnover of Rs 2.51 crore on BSE. The market cap of the firm climbed to Rs 4332.61 crore.
Triveni Engineering & Industries
Triveni Engineering & Industries stock gained 9% to Rs 355.25 in early deals today. Total 2.64 lakh shares of Triveni Engineering changed hands amounting to a turnover of Rs 9.25 crore on BSE. The market cap of the firm climbed to Rs 7721.63 crore.
Indiabulls Housing Finance
Indiabulls Housing Finance stock gained 10.94% to Rs 79.99 in early deals today. Total 0.89 lakh shares of Indiabulls Housing Finance changed hands amounting to a turnover of Rs 68.84 lakh on BSE. The market cap of the firm climbed to Rs 1932.88 crore.
Trent
Trent stock rose 3.71% to hit a record high of Rs 4306.75 in early deals today. Total 2.16 lakh shares of Trent changed hands amounting to a turnover of Rs 90.84 crore on BSE. The market cap of the firm climbed to Rs 1.48 lakh crore.
Gujarat State Petronet
Shares of Gujarat State Petronet were locked in the lower circuit at Rs 302.30, down 20 per cent. Market cap of the frim fell to Rs 17,056 crore. The stock crashed after the company saw a series of downgrades by brokerage firms as a new tariff order led to a sharp earnings cut.
IREDA
Shares of IREDA surged 11.59 per cent to Rs 179.45 on Monday. Market cap of the firm climbed above Rs 48,000 crore. Total 86.50 lakh shares of Trent changed hands amounting to the highest turnover of Rs 149.95 crore on BSE.
Vodafone Idea
Shares of Vodafone Idea fell 4% to Rs 12.23 in early deals. Market cap of the firm fell to Rs 62,349 crore. Total 1061.58 lakh shares of Vodafone Idea changed hands amounting to a high turnover of Rs 131.96 crore on BSE.
Disclaimer
Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Business Today. Investors should consult their financial advisors before taking any position.