As markets recoup losses, Q3 results by these companies make the stock rally

Sona BLW hits the upper circuit while Spice Jet shares take off on posting Q3 results.

The market recouped yesterday’s losses with benchmark indices Sensex reclaiming 58000 mark gaining 1736 points or 3.1 per cent while the Nifty gained in tandem 3.1 per cent and closed at 17366.45. 

The broader market also rebounded from yesterday’s massive blow with BSE indices Midcap gaining 3 per cent and Smallcap gaining 1.97 per cent and closed at 29404.40 and 28043.69. 

All sectoral indices ended in green led by Banks, Auto, IT and Reality. BSE 500 gained 2.81 per cent to close at 23531.37. 

Sona BLW Precisions Forgings Ltd hit the upper circuit after it announced Q3 results during market hours which led to a steep surge in its day’s high of Rs 659.55. The stock closed at Rs 652.40 with a gain of 8.08 per cent. 

Spice Jet rallied 8.02 per cent in today’s trading session to close at Rs 64 with intraday high and low of Rs 64.40 and Rs 56.25. The loss-making airline company reported its Q3 results which showed a jump of 20 per cent in revenue on a sequential basis and net loss was also reduced by a similar 21 per cent for the same period. 

TV18 Broadcast rallied 7.98 per cent in today’s session. The stock closed at Rs 69.65 with an intraday high and low of Rs 70.50 and Rs 62.55. Jyoti Deshpande who heads Viacom 18 Media Pvt Ltd as the CEO has been appointed as co-chair of the FICCI media and entertainment board. Viacom18 is a joint venture between TV18 and ViacomCBS