Market Movers: Amid month-end profit booking, these stocks witnessed a rally!
Aptech Ltd, Apcotex Industries and General Insurance Corp top Group A.
Domestic equity indices Sensex and Nifty traded amid volatility in the day’s session and settled near the day’s low amid profit booking. All the sectors closed in red on the last day of the week amid volatile and uncertain sentiments
At the closing bell on April 29, the Sensex lost 460 points or 0.8 per cent to close at 57,060.87, while the Nifty index shed 142.50 points or 0.8 per cent to settle at 17,102.55.
Aptech Ltd, Apcotex Industries and General Insurance Corp witnessed positive action in today’s session.
Aptech Ltd zoomed 11.07 per cent in today’s session to emerge as the biggest gainer in Group A. The shares hit intraday high and low at Rs 369.50 and Rs 329.70, respectively and closed at Rs 362.80. Aptech Limited is a Global Learning Solutions company that commenced its education and training business in 1986. The company will announce its Q4 results at its AGM scheduled on May 4 next week.
Apcotex Industires gained 11.02 per cent in today’s session and closed at Rs 591.50. The stock logged its intraday high and low in today’s session at Rs 604.95 and Rs 520, respectively. The shares of the company had seen a strong rally with a YTD gain of 56.42 per cent on the bourses. At today’s high, it also logged a fresh 52-week high. The company reported its Q4 results on Wednesday, net sales grew 48 per cent on a YoY basis at Rs 277 crore, EBITDA grew by 50.5 per cent while PAT by 37 per cent on YoY basis and stood at Rs 45.2 crore and Rs 30.9 crore, respectively.
General Insurance Corporation of India (GICRE) showed a strong rally of 10.11 per cent in today’s session to emerge as the third biggest gainer in Group A. The share hit intra-day high and low at Rs 139.80 and Rs 119.40, respectively and closed at Rs 130.70. The state-owned insurance company rallied as IRDAI today hiked the exposure limit to financial and insurance activities up to 30 per cent for insurance companies. This raising the sectoral cap limit for investments came in as a positive move for insurance companies.