While metals, auto, and oil & gas equities made slight declines, shares of FMCG, financials, and private banks rose. The S&P BSE Sensex, the barometer index, increased 122.75 points or 0.20% to 62,969.13. To 18,633.85, the Nifty 50 index increased by 35.20 points or 0.19%. The S&P BSE Small-Cap index increased 0.22%, while the S&P BSE Mid-Cap index increased 0.16% overall.
Keep a close eye on these trending stocks on Wednesday, May 31, 2023:
Dilip Buildcon: In Tuesday’s trading, Dilip Buildcon’s shares increased significantly amid high volume. The stock jumped 20% from its previous closing of Rs 169.15 to its upper price band of Rs 202.95. On the BSE, about 3.73 lakh shares were traded today, more than ten times the two-week average volume of 37,000 shares.
Venus Remedies: On May 30, the stock reached its 20% upper circuit after the company disclosed a more than 200% increase in net earnings for the March quarter. Consolidated net profit jumped by 4,700% to Rs 11.06 crore for the quarter from Rs 0.23 crore a year earlier.
Eureka Forbes: After the company reported a 98% surge in net profit to Rs 16.28 crore in Q4 FY23 from Rs 4.82 crore in Q4 FY22, the shares jumped 13% to Rs 453. In Q4 FY23, PBT excluding extraordinary items increased 120.9% year-over-year to Rs 35 crore. The stock jumped 13% to Rs 453 per share on 30 May.
Arvind Fashions: After the company’s consolidated net profit gained significantly from Q4 FY22’s Rs 0.78 crore to Rs 10.92 crore in Q4 FY23, the share price of the company rose by 2.16% to Rs 274.60. This was made possible by a strict focus on retail operations that produced a strong retail LTL of 17% and a strong increase in other offline channels.
Force Motors: After the firm announced strong results during the March quarter of FY23, Force Motors shares were caught in the 20% upper circuit at Rs 1,718.10, which is also the stock’s 52-week high level.