Opening spotlight: Strong Q4 results drove prices of these stocks upwards amid mixed sentiments

Owing to increased demand from buyers, these stocks were the top gainers in the pre-opening session today.

At the pre-opening bell, S&P BSE Sensex opened in the green, gaining 172 points or 0.31 per cent over its previous close. However, this did not last long as by 9.15 am, the index lost 0.54 per cent to trade at the level of 55,622.01.    

During the same time while S&P BSE Midcap & S&P BSE Smallcap gained around 0.11 per cent and 0.28 per cent, respectively, the broad market index S&P BSE 500 plunged 0.23 per cent. Sector-wise, metals got hammered by 0.56 per cent, power lost 0.10 per cent whereas energy dropped by 0.01 per cent.   

Amid these mixed sentiments, Jain Irrigation Systems, KNR Constructions, and Central Bank of India emerged as the Top Gainers on BSE in the pre-opening session.  

Jain Irrigation Systems Ltd, an S&P BSE Smallcap company, surged 10.96 per cent by 9.07 am on the bourses to trade at Rs 42 apiece. This rally was supported by the company’s results for the quarter and year ended March 31, 2022. During the quarter Q4FY22, the company’s revenue increased by 16.2 per cent on a YoY basis by registering positive growth in all major business divisions.  

KNR Constructions Ltd gained 10.66 per cent to Rs 269.90 on the back of robust Q4FY22 results. During the quarter, the company’s revenue from operations grew by 8 per cent YoY while PAT increased 46.5 per cent YoY.   

At the same time, the shares of Central Bank of India were trading higher by 5.57 per cent at Rs 19.90 apiece. The bank’s shares have a 52-week high & low of Rs 29.65 and Rs 16.50, respectively.