Market Movers: These stocks witness positive momentum in today's trading session

Raymond Ltd, Bombay Dyeing, and Elecon Engineering Co Ltd surged higher today

The market opened flat today. However, as today’s trading began, S&P BSE Sensex fell almost 0.45 per cent and then again recovered fully to close positively at 55818.11, up by 0.79 per cent for the day. Energy and IT sectors outperformed today. BSE Energy and BSE IT closed 2.33 per cent and 1.56 per cent up, respectively.  

Shares of Raymond Ltd were extremely hot today, touching its upper circuit. However, the stock closed at Rs 1268.9, 19.45 per cent up for the day. It made a fresh 52-week high today and was trading positively for the sixth straight trading day. It made a daily high and low at Rs 1274.75 and 1051.05, respectively. There was no latest news for the stock. However, the company delivered strong Q4 results last month. 

Bombay Dyeing closed at Rs 120.65, 12.86 per cent for the day. The stock made an intraday high and low of Rs 122 and Rs 106.3, respectively. The company had reported its Q4 results last week, where revenue grew by 20 per cent on a YOY basis, reported at Rs 598 crore. However, the company incurred a net loss of Rs 41 crore for Q4 FY22. The company is involved in the business of Real Estate Development, Polyester Staple Fibre and Retail. The company has a market capitalization of Rs 2,492 crore. 

Shares of Elecon Engineering Co Ltd rallied 12.83 per cent for the day, closing at Rs 229.05. The stock made a daily high and low at Rs 231.5 and Rs 203.4. The company is involved in designing and manufacturing material handling equipment and industrial gears. The company had reported a net profit of Rs 41 crore with operating margins of 21 per cent for Q4 FY22. The company has a market capitalization of Rs 2,569 crore.