On the weekly expiry day, the major stock market indicators closed slightly lower, influenced by negative global signals.
The trading session experienced volatility due to the expiration of weekly index options on the NSE. Consumer durables, real estate, and FMCG sectors saw gains, while pharmaceutical and healthcare stocks faced declines.
Keep a close eye on these trending stocks on Friday, 12, May 2023:
Kewal Kiran: On Thursday, the stock of Kewal Kiran Clothing, a manufacturer of branded apparel, started trading ex-dividend. The company’s Board of Directors announced a second interim dividend of Rs 2 per share (of Rs 10 each) for the financial year 2022-23, totaling a dividend rate of 20% for the year.
Sirca Paints India: The Board of Directors has proposed the issuance of bonus shares at a ratio of 1:1, meaning that for every fully paid-up equity share of Rs. 10 held by the company’s shareholders as of the record date, they will receive 1 additional bonus equity share of Rs. 10. The record date for the bonus share issue has been set as May 11, 2023.
HG Infra Engineering: The shares of HG infra were trading 6% higher in the afternoon on May 11, a day after posting a robust set of numbers for the March quarter of financial year 2022-23. On a consolidated quarterly basis, the company reported net sales at Rs 1,535.43 crore in the March quarter, up 44.21 percent from Rs 1,064.69 crore in the year-ago period.
Sagar Cements: On May 11, the company’s shares surged by more than 6% following their announcement of a profitable March quarter, in contrast to a loss during the same period last year. The company achieved a net profit of Rs 98 crore in the March quarter, compared to a net loss of Rs 19.15 crore in the previous year.
HPL Electric and Power: The firm is a leading Indian electric equipment manufacturer recently announced winning smart meter contracts worth Rs 204 Crore (Rs 179.45 crore after tax) from customers nationwide. The company has been effectively managing a significant backlog of orders and promptly supplying products in line with government efforts to promote smart metering.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations.