The Sensex wrapped 253 points higher, a rise of 0.34%, closing at 73,917.Nifty 50 ended at 22,466, up 62 points or 0.28%. There was strong buying interest in mid and small-cap segments, with the BSE Midcap index climbing 1.18% and the Smallcap index rising 1.39%. Notably, the Midcap index reached a new record high of 42,873.60.
Impact on the stock market
| Sector/Index | Performance |
| IT & BPM sector | -0.85% |
| Healthcare sector | -0.13% |
| Oil & Gas sector | +0.97% |
| Real estate sector | +1.67% |
| PSU Bank in India | +0.16% |
Top gainers today
| Company | Price | Change (%) |
| M&M share price | 2,514.60 | +6.02 |
| JSW Steel share price | 907.45 | +2.37 |
| Grasim share price | 2,423.65 | +2.15 |
| UltraTechCement share price | 9,890.35 | +1.87 |
| BPCL share price | 628.30 | +1.54 |
Top losers today
| Company | Price | Change (%) |
| TCS share price | 3,834.10 | -1.71 |
| Cipla share price | 1,399.05 | -1.55 |
| SBI Life Insurance share price | 1,434.20 | -1.24 |
| HCL Tech share price | 1,333.20 | -1.11 |
| Bajaj Auto share price | 8,780.70 | -1.03 |
Market aftermath: Impact on stocks
Crompton Greaves stock soars 15% to 20-month high on stellar Q4 performance
Crompton Greaves Consumer Electricals shares rose to a 20-month high, hitting ₹390.40 per share, following an outstanding March quarter. This leading Indian consumer company saw its shares jump by 15% in early trading, thanks to a surge in demand for fans, pumps, and appliances.
The company reported its highest-ever standalone quarterly revenue of ₹1,797 crore, a 12% year-on-year increase. The ECD segment sales grew by 14% to ₹1,520 crore, with fans up by 13%, pumps by 9%, and appliances by a whopping 27%. Lighting sales remained flat at ₹280 crore due to ongoing price erosion, despite healthy volume growth in B2C categories like ceiling lights, battens, and accessories.
Crompton Greaves also recorded a solid EBIT margin of 11.5% (12.3% adjusted for EPR) and a consolidated quarterly revenue of ₹1,961 crore. The impressive performance pushed the shares to new heights, reflecting the company’s robust growth and market demand.
Multibagger Titagarh Rail Systems share price rises almost 8% to 52-week high
Titagarh Rail Systems Ltd saw its shares surge nearly 8%, reaching a 52-week high of ₹1,308.95 on the BSE. Over the past year, share price has increased by more than 170%, delivering multibagger returns to its investors. The boost in railway capital expenditure has bolstered earnings prospects, driving the stock’s rise. In the January-March 2024 quarter, the company reported an 8% year-on-year increase in net profit, reaching ₹83 crore. EBITDA grew by 11.41% to ₹120 crore, while revenues rose by 8% to ₹1,052 crore. For the fiscal year 2024, Titagarh Rail Systems recorded a revenue of ₹3,853 crore, marking a 38.58% improvement, with net profit growing by 7.71% to ₹297 crore.
Over the past five years, the company has achieved a compound annual growth rate (CAGR) of 21.02% in revenue, 28.50% in EBITDA, and 44.51% in profit before tax.Fiscal year with a robust order book worth ₹14,750 crore, with passenger rolling stock accounting for 46% of this total. And its joint venture order book stood at ₹13,326 crore, with orders for Vande Bharat trains with BHEL comprising more than half of this amount.
IOL Chemicals & Pharmaceuticals Q4 Results
IOL Chemicals & Pharmaceuticals unveiled its Q4 results, showing a 14.18% drop in revenue and a substantial 57.36% decrease in profit compared to the same quarter last year.There was a slight improvement with revenue down by 3.16% and profit up by 19.67%. The company experienced a 2.82% increase in selling, and administrative expenses quarter-on-quarter, and an 18.16% rise year-on-year. Operating income showed a sequential increase of 18.14%, but a year-on-year decline of 60.22%. Earnings per share (EPS) for Q4 were ₹4.71, down 57.29% from the previous year. Shareholders faced negative returns with a -3.84% change in the last week, -14.95% over the last six months, and -21.02% year-to-date. IOL Chemicals & Pharmaceuticals has a market cap of ₹2,148.03 crore, with a 52-week high of ₹535.9 and a low of ₹350.55.
Oil prices fluctuate amid mixed market responses
The Central government has reduced the windfall tax on petroleum crude from ₹8,400 to ₹5,700 ($68.34) per metric ton. This adjustment is part of the government’s biweekly review, aligned with global price fluctuations. This marks the second consecutive cut in the windfall tax, following a reduction from ₹9,600 to ₹8,400 per metric ton on May 1. This move benefits upstream oil exploration and production companies like ONGC and Oil India Ltd, as they will now face a lower tax burden on their crude oil output. The tax reduction comes in response to declining international crude oil prices, with benchmark Brent crude currently trading slightly above $82 per barrel.
Conclusion
The Sensex and Nifty 50 both rose by 2% this week, adding nearly ₹14 lakh crore in investor wealth. Sector performances varied, with the IT & BPM sector down 0.85% and Real Estate up 1.67%. Top gainers included M&M (+6.02%) and JSW Steel (+2.37%), while TCS (-1.71%) and Cipla (-1.55%) were among the top losers.
Crompton Greaves shares jumped 15% to a 20-month high of ₹390.40 after strong Q4 results. Titagarh Rail Systems surged nearly 8% to a 52-week high, reflecting a 170% rise over the past year. IOL Chemicals & Pharmaceuticals saw a 14.18% YoY revenue drop but slight QoQ improvement.
The government cut the windfall tax on petroleum crude from ₹8,400 to ₹5,700 per metric ton, benefiting companies like ONGC amid declining global crude prices.
Stay tuned on StockGro for more updates on market trends.
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