Market Movers: Positive sentiments and fresh buying at corrected levels was the trend in these stocks

ITI, Dr Lal PathLabs and Indigo rally in today’s session

The penalized sectors made a comeback in today’s session with S&P BSE Metal gaining 3.4 per cent while Banking & Finance continued to show strength.

At the closing bell on May 26, the Sensex finished with a gain of 0.9 per cent or 503 points at 54,252.53, while the Nifty50 also gained 0.9 per cent or 144 points at 16,170.15. 

 ITI, Dr Lal PathLabs and Indigo witnessed positive action in today’s session.  

ITI Ltd zoomed 18.07 per cent in today’s session as the company announced reported its financial results for Q4 which exhibited exponential growth on QoQ. In the quarter that ended March 31, 2022, PAT was reported at Rs 357.99 crore against a loss of Rs 92.59 crore on QoQ. Net revenue for the quarter ended March 31, 2022, stood at Rs 1141.50 crore which grew by 7.31X on QoQ. The shares of ITI Ltd hit intraday high and low at Rs 100.6 and Rs 85.90, respectively and closed at Rs 99. 

Dr Lal PathLabs witnessed a gain of 11.10 per cent in today’s session and closed at Rs 2038.10. The stock logged its intraday high and low in today’s session at Rs 2091.55 and Rs 1805.10, respectively. The diagnostic service provider posted weak Q4 results wherein its PAT decreased by 27.03 per cent YoY. The stock was under continuous selling pressure as it lost 10.65 per cent in the last one week and 32.64 per cent in one month. In today’s session, it logged a fresh 52-week low at Rs 1805.10 after which it witnessed fresh buying from the lower levels. 

InterGlobe Aviation Ltd (Indigo) witnessed a rally of 10.4 per cent in today’s session and closed at Rs 1816.20 on the back of its Q4 results. Net revenue for the quarter ended March 31, 2022, stood at Rs 8020.75 crore which was up by 28.89 per cent on YoY. Net Loss in Q4 broadened to Rs 1681.8 crore from Rs 1147.16 crore on YoY. The company witnessed traffic rebounded and d robust demand during the latter half of the quarter, but faced challenges due to high fuel costs and a weakening rupee. The shares of Indigo hit intraday high and low at Rs 1830.65 and Rs 1656, respectively and closed at Rs 1816.20.