Consumer durables, healthcare, and pharmaceutical companies managed to conclude with respectable gains as oil and gas, metals, and financial equities dropped. The S&P BSE Sensex fell 62,622.24 points, or 346.89 points, or 0.55%. To 18,534.40, the Nifty 50 index dropped 99.45 points or 0.53%. The S&P BSE Mid-Cap index increased by 0.54%, while the S&P BSE Small-Cap index added 0.68%, in the broader market.
Keep a close eye on these trending stocks on Thursday, June 1, 2023:
Suzlon Energy: After the firm released positive figures for the three months ending in March 2023, shares of Suzlon Energy rose by almost 9% in the afternoon of May 31 and were trading close to their 52-week high. Due to fewer expenses, the provider of wind energy solutions reported a combined net profit of Rs 320 crore during the quarter.
Arvind Fashions: Arvind Fashion’s stock increased by more than 4.5% on Wednesday as a result of the company’s success in growing both its top and bottom lines in the fourth quarter despite weak demand during the holiday season. For the quarter that ended in March 2023, the textile company’s net profit climbed 32% year-over-year to Rs 29.5 crore, and its operating revenue increased 24% to Rs 1,140 crore.
Welspun Corp: Even though the company reported a flat consolidated profit for the quarter that ended in March 2023, its share price increased 5% intraday today. In comparison to the same quarter the previous year, the company reported a consolidated profit of Rs 235.93 crore for the quarter ending March FY23.
Tega Industries: Following strong Q4 results, shares of Tega Industries Ltd jumped 10% in early trading today, reaching a new 52-week high. On the BSE, the stock was trading 8.61% higher at Rs 899.85. On a quarterly basis, Tega Industries’ profit after tax (PAT) for the fourth quarter increased 58.2% to Rs 77.3 crore, as reported on May 30.
Fairchem Organics: On shares with a face value of Rs 10 each, the business recommended a 75% dividend at Rs 7.50 per share. On May 31, despite the company announcing underwhelming earnings for the March quarter, the shares gained by almost 7%.