While oil & gas and IT equities fell, stocks in the real estate, metal and PSU banks rose. The barometer index, the S&P BSE Sensex, increased 118.57 points or 0.19% to close at 62,547.11. At 18,534.10, the Nifty 50 index climbed by 46.35 points or 0.25%. The frontline indices underperformed the overall market. The S&P BSE Small-Cap index gained 0.57%, while the S&P BSE Mid-Cap index increased 0.60%.
Keep a close eye on these trending stocks on Monday, 5 June 2023:
Paras Defence: Following the announcement of a joint venture for the production of electro-optical and infrared systems with CONTROP Precision Technologies, shares jumped by 9%. A 30% investment in the joint venture will belong to the Indian company, and Controp, an Israeli company, would own the remaining 70%.
Aurum PropTech: The stock jumped 12% to trade at Rs 125.75 after the business approved the purchase of up to 100% of NestAway Technologies Private Limited, a rental management platform.
Bharat Rasayan: The company declared that the Board of Directors of the Company, at its meeting on 30 May 2023, recommended, a final dividend of Rs 1.5 per equity Share (i.e., 15%), subject to shareholder approval.
DCB Bank: DCB Bank shares rose 1.71% to Rs 121.60 after the bank announced that its board of directors has launched a search committee to seek a successor to the present managing director and CEO, Murali Natrajan, whose term expires on April 28, 2024. Its net profit surged by 25.4% to Rs 142.21 crore in Q4 FY23 over Q4 FY22, while total revenue increased by 25.8% to Rs 1,301.61 crore.
Time Technoplast: In six consecutive sessions, the company’s stock has zoomed by 24.75%. Over the last month, the stock outpaced the market, climbing 24.42% vs 1.88% for the Sensex. The stock outpaced the market in the previous quarter, rising 28.51% versus the Sensex’s 6.10% rise. Time Technoplast’s overall net profit expanded 14.54% to Rs 63.57 crore.