Produced by: Aseem Thapliyal
The domestic equity market was trading higher in the afternoon session today. Sensex gained 46 points to 74,052 and Nifty rose 50 pts to 22,552.
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services said, “The Q4 results are generally good with decent revenue and PAT growth. Among sectors, financials particularly banking, automobiles particularly two-wheelers, capital goods, real estate and pharmaceuticals have come out with impressive results and their prospects, too, look good. Watch out for these sectors since they are likely to lead in an election results-related rally."
Shares of Patel Engineering rose over 12% in early deals today after the civil construction firm reported a 83% rise in Q4 profit. Net profit climbed to Rs 141 crore in the last quarter against Rs 77 crore in the corresponding quarter of the previous fiscal. The multibagger stock rose 12.56% to Rs 65.95 against the previous close of Rs 58.59 on BSE.
Shares of Tata Steel rose over 3% in early deals amid a highly volatile market today. Tata Steel’s market cap stood at Rs 2.16 lakh crore. The stock was the top gainer on Sensex. Total 35.74 lakh shares of the firm changed hands amounting to turnover of Rs 61.09 crore on BSE.
Shares of Rail Vikas Nigam Ltd (RVNL) rose 8 per cent after the company bagged an order from South Eastern Railway. Shares of RVNL surged 7.65 per cent to Rs 322.50. Market cap of the firm stood at Rs 70,359 crore.
Shares of Data Patterns rose to a record high of Rs 3444 on BSE after global brokerage Jefferies assigned a buy call to the multibagger stock post Q4 earnings. Net profit climbed 40% in Q4 to a record Rs 71 cr as against Rs 51 cr in Q3 FY24. Total revenue rose 29% to Rs 195 crore in Q4 from Rs 151 cr in Q3.
Shares of Delhivery slipped 12% to Rs 383.90 in the afternoon session today. Market cap of the firm fell to Rs 29,143 crore. Total 4.13 lakh shares of the firm changed hands amounting to turnover of Rs 61.09 crore on BSE.
Shares of BEL gained 9.25% to a record high of Rs 282.80 after the firm reported a 30 percent rise in its consolidated net profit to Rs 1,797 crore for the quarter ended 31 March, 2024. Market cap of the firm rose to Rs 2.01 lakh crore.
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