Market Movers: As markets continue to nosedive, these three stocks defied gravity!

Indo Count Industries, KRBL and Avanti Feeds rally in today’s volatile session.

The losing streak continues for the fourth straight session of the week with power, metal and utilities being the biggest losers on the bourses. 

At the closing bell on May 12, the Sensex gave up 1158 points or 2.1 per cent to close at 52,930.31, while the Nifty index lost 359 points or 2.2 per cent to settle below the 16000 mark at 15,808. 

Indo Count Industries, KRBL and Avanti Feeds witnessed positive action in today’s session.  

Indo Count Industries zoomed 15.61 per cent in today’s session and closed at Rs 147. The shares hit intraday high and low at Rs 152.40 and Rs 123.65, respectively. The company is a manufacturer and exporter of bed sheets, bed linen and quilts. After witnessing selling pressure losing 18 per cent in the last one week and 30 per cent in the last one month. The stock bounced back today to become the biggest gainer in “A” Group. 

KRBL Ltd witnessed a strong rally of 15.31 per cent in today’s session and closed at Rs 234.30. The share hit intraday high and low at Rs 243.80 and Rs 207, respectively. The company in its exchange filing on May 11, intimated that it has been granted partial relief of Rs 1170.37 crore in respect of Income Tax demand pertaining to AY2010-11 to 16-17. The demand now stands reduced at Rs 98.83 crore according to the order passed by CIT(Appeals). 

Avanti Feeds witnessed a gain of 13.65 per cent in today’s session and closed at Rs 457.65 The stock logged its intraday high and low in today’s session at Rs 478 and Rs 384.90, respectively. India’s leading manufacturer of prawn and fish feeds posted its financial results for the quarter that ended on March 31, 2022. Net revenue for the quarter ended March 31, 2022, stood at Rs 1038.54 which was up by 16.60 per cent on YoY basis. PAT in Q4 grew by 9.52 per cent to Rs 75.31crore from Rs 68.77 crore on a YoY basis.