While IT, consumer durables, and real estate companies fell in value, shares in metal, media, and oil & gas were in high demand. The S&P BSE Sensex barometer index increased 18.11 points or 0.03% to 61,981.79. To reach 18,348 levels, Nifty 50 index gained 33.60 points, or 0.18%. The Sensex rose 0.89% over three straight sessions, while the Nifty gained 1.20%. The S&P BSE Mid-Cap index increased by 0.43% and the S&P BSE Small-Cap index increased by 0.11% in the overall market.
Keep a close eye on these trending stocks on Wednesday, May 24, 2023:
Varroc Engineering: The shares of VARROC jumped 5.70% after the company reported a consolidated net profit (from continuing operations) of Rs 40.02 crore in Q4 FY23 against a net loss of Rs 32.57 crore posted in Q4 FY22. Huge spurt in volume was recorded as the stock hit the intraday high of Rs 327.30 on NSE.
Garware Technical Fibres: The stock rose 1.01% after the company’s consolidated net profit rose 10.73% to Rs 59.67 crore, and with a 3.98% increase its net sales to Rs 370.49 crore in Q4 March 2023 over Q4 March 2022.
Capri Global Capital: The shares of CGCL rallied 5.03% after the announcement of quarterly results. The NBFC reported a 55.37% jump in consolidated net profit to Rs 64.9 crore in Q4 FY23 from Rs 41.77 crore recorded in Q4 FY22. The stock registered a technical breakout from its consolidation pattern supported by above average volumes.
NACL Industries: The company shares rallied 15.53%. The company’s consolidated net profit jumped 64.52% to Rs 33.53 crore in Q4 FY23 as compared to Rs 20.38 crore in Q4 FY22. The stock opened gap-up and remained strong throughout the trading session.
Kirloskar Industries: On a consolidated basis, Kirloskar Industries‘ net profit stood at Rs 43.87 crore for the quarter ended March 2023. In the year-ago period, the net profit was Rs 0.12 crore.
