Market Movers: These stocks rally in a bleeding market!
NB Ventures, JK Lakshmi Cement and Caplin Point Laboratories witnessed positive action in today’s session.
Global weakness fueled by misses in the quarterly performance by corporates cast its spell on Indian markets. IT sector was penalized the most, followed by metal in today’s session where all sectors traded in red.
At the closing bell on May 19, the Sensex closed worse off than it started the week with a loss pf of 2.6 per cent or 1416.30 points to close at 52,792.23, while the Nifty index shed 2.7 per cent or 431 points at 15,809.40.
Nava Bharat Ventures Ltd witnessed a rally of 17.12 per cent in today’s session on the back of outstanding Q4 performance and closed at Rs 176.80. The stock logged its fresh 52-week high in today’s session at Rs 180.95. The stock has rallied 14.34 per cent on Monday as it declared its Q4 results. The net revenue for the quarter ended March 31, 2022, stood at Rs 1016.46 crore which was up by 47.6 per cent on YoY basis. PAT in Q4 more than doubled at Rs 354.83 crore from Rs 164 crore on YoY basis showing a growth of 116.53 per cent.
JK Lakshmi Cement witnessed a gain of 7.2 per cent in today’s session and closed at Rs 422.15. The stock logged its intraday high and low in today’s session at Rs 448.30 and Rs 402.95, respectively. The cement company announced its Q4 results wherein total revenue for the quarter ended March 31, 2022, stood at Rs. 1599.83 crore, as compared to Rs 1424.32 crore in the same period last year, showing a growth of 12.32 per cent. Net Profit stood at Rs188.38 crore for Q4FY22, as compared to Rs 159.12 crore in the corresponding quarter of last year, a growth of 18.39 per cent YoY.
Caplin Point Laboratories gained 5.37 per cent in today’s session while taking the week's gain to 11.39% on the back of a strong set of numbers for Q4 declared last week. PAT in Q4 jumped by 19.01 per cent to Rs 80.83 crore from Rs 67.92 crore on YoY basis. Net revenue for the quarter ended March 31, 2022, stood at Rs 339.24 crore which was up by 21.72 per cent on YoY basis. The shares of the pharma company hit intraday high and low at Rs 813.70 and Rs 722.05, respectively and closed at Rs 781.65.