Top three stocks that saw heavy demand from buyers in the pre-opening session today

These three stocks were the top gainers on BSE in the pre-opening session today.

At the pre-opening bell, the frontline index S&P BSE Sensex opened in red with a loss of 74.54 points or 0.125 per cent. By 9.15 am, the index further strengthened to 59,369.05, signifying gains of 166.15 points or 0.28 per cent. 

On the sectoral front, in the pre-opening session, metals got hammered by 0.1 per cent, power weakened by 0.4 per cent while auto slipped by 0.16 per cent. 

Meanwhile, Ramco Industries, Axis Bank, and South Indian Bank emerged as the Top Gainers of BSE in the pre-opening session today. 

Ramco Industries Ltd, an S&P BSE Smallcap company, surged 6 per cent to trade at Rs 198 apiece. The company has not made any significant announcements of late. Hence, the rally in its share price could be driven purely by market forces.   

Axis Bank Ltd, a part of S&P BSE Sensex, rallied 4.09 per cent to trade at Rs 860 apiece. On Thursday, the bank reported the unaudited financial results (standalone & consolidated) for the quarter and a half year that ended September 30, 2022. As per the exchange filing, the bank's net interest income (NII) climbed 31 per cent YoY and 10 per cent QoQ to Rs 10,360 crore. Similarly, the core operating profit grew 43 per cent YoY and 19 per cent QoQ to Rs 7,802 crore. Further, the net profit in Q2FY23 grew 70 per cent YoY and 29 per cent QoQ to Rs 5,330 crore. 

South Indian Bank Ltd, another S&P BSE Smallcap company, climbed 3.62 per cent to trade at Rs 10.87 apiece. This surge came on the back of the results announcement made by the bank on Thursday for the quarter and a half year that ended September 30, 2022. As per the exchange filing, in Q2FY23, the bank's net interest income (NII) grew 37 per cent YoY to Rs 726 crore, the highest figure to date. Further, the bank reported a profit after tax (PAT) of Rs 223 crore as against a loss of Rs 187 crore on a YoY basis.