The Government of India’s focus on higher allocations for rural development, agriculture, and allied services, along with schemes for employment and skilling of youth, is expected to boost both rural and urban consumption for consumer products.

According to the quarterly results, the net sales decreased by 6.79 per cent to Rs 1,702 crore, operating profit increased by 33.33 per cent to Rs 132 crore and net profit increased by 9.30 per cent to Rs 47 crore in Q1FY24 compared to Q1FY23. In FY23, the net sales increased by 64.69 per cent to Rs 6,927 crore and net profit increased by 47.74 per cent to Rs 164 crore compared to FY22.

The stock had a 52-week high of Rs 115.50 and a 52-week low of Rs 50.80. 

Watch out for these large-cap stocks in Monday’s trading session!

Shares of GRM Overseas, the top BSE Smallcap gainer, soared almost 20 per cent, keeping small-cap bulls active.  

This contract is in addition to the existing business with Tata Steel Limited and other clients.

The shares of Suven Life Sciences soared 12.48 per cent. The company’s board is scheduled to meet on June 24 to consider a proposal of raising funds by way of the issue of equity shares.

On Thursday morning the markets opened marginally lower, owing to weaker global cues. 

Crude oil price decreased slightly and was trading at USD 120 per dollar, whereas Gold prices also increased by 3 per cent. The Nasdaq was down by 1.32 per cent at market close on Wednesday, whereas the Asian markets also mimicked the weaker sentiments and were trading 0.50 per cent lower