Amidst a negative atmosphere, these stocks are gaining!

Mahindra Logistics Ltd, Veranda Learning Solutions Ltd and Omaxe Ltd are today’s mid-day movers.

On Wednesday afternoon, at 1:40 pm the S&P BSE Sensex is at 56,851.60 witnessing a 0.88 per cent decline and NIFTY is at 17,038.80 witnessing a 0.93 per cent decline. In this gloomy environment, the following stocks saw a surge.

Mahindra Logistics Ltd is a leading integrated logistics & mobility solutions provider. The company has reported a rise of 21.16 per cent in its net profit to Rs 10.25 crore for the quarter ended Q4FY22 as compared to Rs 8.46 crore for the same quarter in the previous year. Total income of the company increased by 10.12 per cent to Rs 965.71 crore for Q4FY22 as compared to Rs 876.99 crore for the corresponding quarter of the previous year. The total income of the company increased by 10.19 per cent to Rs 1078.37 crore for Q4FY22 as compared to Rs 978.65 crore for the corresponding quarter of the previous year. Today, at 1:40 pm the stock has jumped 7.81 per cent and the scrip is currently trading at Rs 512.05.

Veranda Learning Solutions is a digital, offline and hybrid learning platform offering a multitude of career-defining courses in the field of competitive exams training. The company signed a definitive agreement to acquire T.I.M.E, for a consideration of Rs 287 crore. This 100 per cent acquisition will be in a phased manner with 80 per cent of the outstanding capital along with management control in phase 1, followed by the purchase of the remaining 20 per cent at the end of two years. T.I.M.E. is India’s leading test-prep institute with a pan-India presence. At 1:40 pm the stock has jumped 9.98 per cent and the scrip is currently trading at Rs 229.25. 

Omaxe Ltd is a privately held real estate developer. It has raised Rs 440 crore from Värde Partners, a leading global alternative investment firm. It will deploy the funds for expediting the construction and delivery of its projects as well as for expansion. At 1:40 pm the stock has jumped 14.18 per cent and the scrip is currently trading at 105.50.