As wholesale inflation figures in India continued to fall, practically all sectoral indices on the NSE finished in the green. There was a lot of interest in real estate stocks. Intraday, the Nifty 50 index momentarily touched the 18,400 mark. However, profit-taking in the closing hour caused it to close below the 18,400 level. The S&P BSE Sensex rose 317.81 points, or 0.51%, to 62,345.71. The Nifty 50 index increased by 84.05 points, or 0.46%, to 18,398.85.
Keep a close eye on these trending stocks on Tuesday, 16, May 2023:
- Repro India: On the basis of strong Q4 earnings, shares of Repro India surged in early sessions on Monday, reaching the 20% upper circuit. On the National Stock Exchange (NSE), its shares were trading at Rs 499.30 each. Ashish Kacholia, a well-known investor, owns 4,60,528 shares in the company, or 3.62% of it. As of Monday, his holdings were valued at more than 22.99 crores.
- Neuland Laboratories: Today, the shares of Neuland Laboratories Limited set a new 52-week high of Rs 3040.35 per share. It will pay a dividend of Rs 10.00 on August 26th, an increase from previous dividend of Rs 5 for the same period previous year. Investors are delighted to see that the stock price of Neuland Laboratories has climbed by 82% in the last three months, which is beneficial for shareholders and may explain the fall in dividend yield.
- Zensar Technologies: Zensar Technologies Ltd’s stock rose 5% in Monday trading, extending its three-day winning streak to 17%. The management of the company stated that the IT firm’s cash is at 22% of market capitalisation and free cash flow (FCF) yield at 10% support values. Zensar Technologies’ share price has risen to 12.94% today.
- Magellanic Cloud: In today’s trading session, Megellanic Cloud shares rocketed to a new 52-week high of Rs 205 per share. Small-cap IT stocks have been the standout performers over the last six months, generating strong returns to investors. During the same time span, these equities outperformed their larger rivals significantly.
- Great Eastern Shipping Company: The shares of Great Eastern Shipping Company spiked 6.74% following the company’s consolidated net profit which grew 282.04% to Rs 721.94 crore. The net sales also grew 58.92% to Rs 1455.98 crore in Q4 March 2023 as compared to Q4 March 2022.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations.