Along with the market, a strong rally was witnessed in these stocks today!
Welspun Corp, JK Lakshmi Cement and Nava Bharat Ventures gain heavily in today’s positive session.
As bulls took charge of today’s session, Metal and Realty emerged as the biggest gainers among sectoral indices. At the closing bell on May 20, the Sensex closed with significant gains of 3 per cent or 1582.93 points to close at 54,375.16, while the Nifty index gained 2.9 per cent or 456.75 points at 16266.15.
Welspun Corp, JK Lakshmi Cement and Nava Bharat Ventures witnessed positive action in today’s session.
Welspun Corp Ltd zoomed 17.37 per cent in today’s session, touching the upper circuit of 20 per cent at Rs 250.50. The rally was led by the announcement about the company winning the single largest order in its history for a supply of pipes valued at over Rs 5000 crore (approx) in US. With this, the order book as of date (excluding Saudi) stands at 704,000 MT valued at Rs 10,500 crore (approx). The company, however posted weak results wherein PAT in Q4 shrunk by 34.85 per cent at Rs 77.26 crore from Rs 118.58 crore on YoY basis. Net revenue for the quarter ended March 31, 2022, stood at Rs 1240.95 crore, which was down by 5.32 per cent on YoY basis.
JK Lakshmi Cement was among the Top Gainers in “A” Group for the second day in a row after it released strong numbers for Q4. With today’s gain of 16.61 per cent, the stock has climbed 25.36 per cent in two days. The stock hit the upper circuit in intraday trades at Rs 506.55. 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.
Nava Bharat Ventures Ltd witnessed a surge of 14.59 per cent in today’s session and closed at Rs 208.50. The share has been rallying after it posted robust quarterly numbers last Friday, wherein PAT in Q4 more than doubled at Rs 360 crore from Rs 164 crore on YoY basis showing a growth of 120 per cent. In one week, the stock has gained 30 per cent on the back of stellar performance after being the top gainer in yesterday’s session gaining 17.12 per cent. The stock logged a fresh 52-week high of Rs 208.50 in intraday trades.