Opening movers: These stocks rallied on bourses on the back of strong Q4 results!

One of them hit the upper circuit of 20 per cent on the bourses.

In the tussle between the bulls and the bears, the bulls seemed to overpower the bears today. At the pre-opening bell, the frontline index S&P BSE Sensex opened at a gain of nearly 400 points at 54,764.50. With this, the index broke its streak of opening in red for two consecutive sessions earlier.   

Similarly, S&P BSE Midcap opened with a gain of 0.14 per cent while S&P BSE Smallcap was trading higher by around 0.11 per cent. On the sectoral front, after the pre-opening bell, the power sector tumbled 0.38 per cent while the utilities sector lost 0.61 per cent whereas the metal & energy sectors surged 0.11 per cent and 1.02 per cent, respectively.  

By 9.15 am, barring the healthcare index, all the indices were trading in green. Amid this environment, Neuland Laboratories, Relaxo Footwears, and Gujarat Gas outshined on the bourses in the pre-opening session today.   

Neuland Laboratories Ltd, an S&P BSE Smallcap company, rallied 20 per cent and hit its upper price band. This rally came on the back of results for the quarter and year ended March 31, 2022, announced by the company on Tuesday. During the quarter, on a consolidated basis, the company’s bottom line grew by nearly 26 per cent to Rs 21.78 crore.   

Relaxo Footwears Ltd, an S&P BSE 200 company, surged over 7.5 per cent on the bourses, ahead of the results for the quarter and year ended March 31, 2022, which are set to be announced today.  

Gujarat Gas Ltd, another S&P BSE 200 company, jumped nearly 6 per cent on the back of strong Q4 results. During the quarter, the company’s top line went up by 36 per cent whereas the bottom line grew by 27.5 per cent YoY.