From strong Q1 earnings beats to margin pressures, here’s a complete look at what drove today’s biggest Nifty 500 movers and how each stock stacks up …
1/8Redington International shares opened as the top gainer on the Nifty 500 index, surging over 13% at market open after strong Q1 results, with net profit up 76.6% to ₹486 Cr,. This was the second-biggest surge this year. The company’s shares were up more than 17% since the beginning of the year and had surged more than 21% over the past year. The stock was 4.58% away from hitting its 52-week high of ₹338.50 and only 5% away from its 52-week low of ₹191.31.
2/8Gallant Ispat shares rose over 2% at market open on the Nifty 500 index. The company’s shares have surged over 12% since the beginning of the year; however, they slumped more than 20% over the past 12 months. The stock was 56% away from hitting its 52-week high of ₹948 and over 22% away from hitting its 52-week low of ₹496.25.
3/8Balkrishna Industries shares surged over 8% as revenue beat estimates despite weaker earnings, with EBITDA falling 8% to ₹656 Cr and margins contracting to 23.7%, while revenue rose 1% to ₹2,760 Cr on a 3% drop in volumes offset by a 4% rise in realisations, YoY. This was the biggest rise this month. The shares had slipped over 2.15% since the beginning of the year, while they slumped over 17% over the past 12 months. The stock was 22% away from hitting its 52-week high of ₹2,775.00 and over 15% away from hitting its 52-week low of ₹1,970.00.
4/8Syngene International shares fell almost 9% after weak Q4 earnings, as net profit dropped 19.3% to ₹147.9 Cr and EBITDA fell 11.7% to ₹303.4 Cr, with margins contracting to 29.3% from 33.8%, even as revenue edged up 1.8% to ₹1,036.5 Cr, YoY. The company’s shares have fallen almost 42% since the beginning of the year and plunged over 47.71% over the past 12 months. The stock was barely 0.4% away from hitting its 52-week low of ₹375.25.
5/8Hexaware Technologies shares fell more than 6% at market open despite revenue growing 6.4% to ₹3,845.2 Cr and margins improving to 13.62%, as net profit dropped 6.2% to ₹330 Cr, QoQ. The company’s shares have slumped over 23.71% since the beginning of the year and slipped almost 19% over the past 12 months. The stock is 43% away from hitting its 52-week high of ₹829.40 and 44% away from its 52-week low of ₹400.20.
6/8Wipro shares rose above 2% at market open today. The company’s shares have slumped more than 29% since the beginning of the year and slipped over 24% over the past 12 months. The stock is 12% away from hitting its 52-week low of ₹169.00 and over 43% away from its 52-week high of ₹273.10.
7/8Syrma SGS Tech shares rose about 4% at market open after strong Q1 earnings, as net profit doubled to ₹100 Cr, revenue grew 67% to ₹1,589 Cr, and EBITDA rose 68% to ₹161 Cr, with margins steady at 10.1%, YoY. The company’s shares have surged more than 93% since the beginning of the year and were up more than 82% over the past 12 months. The stock is only 9% away from hitting its 52-week high of ₹1,517.7 and over 118% away from its 52-week low of ₹634.50.
8/8Waaree Energies shares fell over 5%, even as revenue jumped 79.2% to ₹7,932 Cr and EBITDA grew 44.4% to ₹1,440 Cr, as margins shrank to 18.2% from 22.5%, YoY. The company’s shares have plunged over 12% since the beginning of the year and almost 18% over the past 12 months. The stock is only 7% away from hitting its 52-week low of ₹2,403.00.
