Top 5 performers among BSE 500 post budget
On February 1, 2018, the Finance Minister of India presented the Union Budget 2018-19. The stock market reacted in its own way and BSE Sensex was down by 2.13 percent to 35,501.74 from 36256.83 on the same day. In the last 15 days, the market has corrected gradually by almost 1,200 points and closed at 34,297.47 on February 15, 2018.
However, some of the stocks from BSE 500 have shown an upward trend post budget. Top 5 stocks from BSE 500 whose prices have soared are presented below –
Bombay Dyeing’s stock price was up by 23.5 per cent led by its Q3FY18 performance. Its revenue rose by 27.7 per cent YoY and generated net profit of Rs. 3.4 crores as against net loss of Rs. 52.8 crore in Q3FY17. FDC’s share price soared as the company’s board approved a share buyback proposal. LTTS has soared by 56 per cent since mid-January and by 20.9 per cent post budget on back of heavy volumes and Q3FY18 performance. Another company of the L&T Group, Larsen & Toubro Infotech performed well and its price was up by 16 per cent. In the last week, the delisting offer of Polaris by Virtusa was successful. Stake of Virtusa in Polaris would increase to 93 per cent from 74 per cent, after the completion of delisting.