Consumer durables, financials, and metals outperformed, while oil and gas and information technology stocks saw some selling. The S&P BSE Sensex rose 344.69 points, or 0.55%, to 62,846.38. The Nifty 50 gained 99.30 points, or 0.54%, to 18,598.65. The S&P BSE Mid-Cap index increased 0.41%, while the S&P BSE Small-Cap index increased 0.30%. The market breadth was favourable.
Keep a close eye on these trending stocks on Tuesday, May 30, 2023:
Nucleus Software Exports: The company increased by 20% to Rs 971. The stock was the fourth-best performer in the ‘B’ group. So far, 1.45 lakh shares have been traded on the BSE, compared to an average daily turnover of 15408 shares in the previous month.
Greenlam Industries: The company’s board declared a Final dividend of Rs 1.50 per share (i.e.,15%), in its meeting held on May 27, 2023, subject to shareholder approval. Profit before tax for the quarter was at Rs 55.17 crore, up 67.1% as against Rs 33.01 crore posted in Q4 FY22.
Ahluwalia Contracts: Shares of Ahluwalia contracts surged 17% to a record high of Rs 617.65 on May 29 after the firm reported good results for the March quarter. The company reported a 62% increase in net profit to Rs 72.2 crore from Rs 44.5 crore the previous year.
Affordable Robotic and Automation: Following the announcement of its collaboration with Toyota Lift Northwest on May 29, the firm’s shares increased by approximately 3.5%. Toyota Lift Northwest has been designated as the channel partner for the company’s subsidiary, ARAPL Raas Private Ltd, in the United States.
Triveni Engineering and Industries: Following strong Q4 results, shares of Ltd increased 2% in early trading. In a regulatory filing made after market hours on May 25, 2023, the company reported a net profit of Rs 109.17 crore for the same period a year prior. According to the firm, the board has recommended a dividend of Rs 3.25 per fully paid-up equity share of Re 1 each for the fiscal year ending 2022–23, subject to shareholder approval.