Market Movers: Stellar results by these companies lead to a strong rally in their shares!

Elgi Equipments, NB Ventures and Avenue Supermarts rally in today’s positive session.

As bulls took charge of today’s session, Auto, Realty and Telecom emerged as the biggest gainers among sectoral indices. 

At the closing bell on May 16, the Sensex closed with nominal gains of 0.3 per cent or 180 points to close at 52,973.84, while the Nifty index gained 0.4 per cent or 60 points at 15,842.30. 

Elgi Equipments, NB Ventures and Avenue Supermarts witnessed positive action in today’s session.  

Elgi Equipments India zoomed 19.81 per cent in today’s session while touching the upper circuit of 20 per cent on the back of a strong set of numbers for Q4. PAT in Q4 jumped by 68.4 per cent to Rs 73.1 crore from Rs 43.4 crore on YoY basis. Net revenue for the quarter ended March 31, 2022, stood at Rs 728 crore which was up by 19.15 per cent on YoY basis. The shares of air compressor manufacturer hit intraday high and low at Rs 308.40 and Rs 272.65, respectively and closed at Rs 307.90. 

Nava Bharat Ventures Ltd witnessed a rally of 14.34 per cent in today’s session and closed at Rs 155.45. The share spiked towards the later part of the day’s session as it declared its Q4 results, hitting an intraday high of Rs 159.70. 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 360 crore from Rs 164 crore on YoY basis showing a growth of 120 per cent. 

Avenue Supermarts (DMart) witnessed a gain of 10.40 per cent in today’s session and closed at Rs 3571.50. The stock logged its intraday high and low in today’s session at Rs 3620 and Rs 3185, respectively. The departmental store chain announced its Q4 results wherein total revenue for the quarter ended March 31, 2022, stood at Rs 8,786 crore, as compared to Rs 7,412 crore in the same period last year. Net Profit stood at Rs 427 crore for Q4FY22, as compared to Rs 414 crore in the corresponding quarter of last year.