With a 1.60 percent rise, the BSE Oil and Gas sector took the lead in the closing surge. Domestic indices partially reversed the session’s dips, but major drops in the technology, banking, and financial services sectors forced the indices to close down. At close, the BSE Sensex decreased 0.50 percent to 60,353. The Nifty 50 index dropped 0.28 percent to 17,992 points.
Be wary of these stocks on Friday during trading:
The non-banking financial institution, Bajaj Finance, claimed strong performance across a range of metrics, including new loans, deposit book, client franchises, and so forth. The company’s shares fell more than 7%, making it the Sensex’s worst performer. This sharp decline was primarily due to assets under management (AUM) falling short of market expectations.
IndusInd Bank: The bank today disclosed a collaboration with two illustrious foreign airlines, British Airways and Qatar Airways, to create a special multi-branded credit card, powered by Visa. Customers will have access to it during the first quarter of the fiscal year 2023–2024. Compared to other banking stocks today, IndusInd Bank’s shares performed nicely.
Grasim Industries: The cement company has established a wholly owned subsidiary called “Grasim Business Services Pvt. Ltd.” to conduct business support services activities. The volatile session ended with shares roughly 5% higher.
Gujrat Metro Rail Corporation has given Rail Vikas Nigam Ltd (RVNL) an order of Rs 166 crore, the company announced to the exchange. The order must be carried out within 22 months after the work’s beginning date.
Ram Informatics Ltd.: The company informed the exchange that they had reviewed and approved the proposal for an investment of up to 50% of the equity share capital in Mrida Energy Private Limited in order to take advantage of the significant potential in the energy solutions market and to enter the sector as a major source of revenue.
Aries Agro: The company declared that the Bureau of Indian Standards has awarded the All India First ISI Mark for Chelated Zinc to the company’s flagship product, CHELAMIN.
3P Land Holdings Ltd
After being trapped in the 20% upper circuit, 3P Land Holdings Ltd. rose and reached an upper price range of Rs 21 per share. The volume of the company’s shares on the BSE increased by about 49.96 times today.
The company provided fantastic numbers in its quarterly and annual financial statements. Net sales increased by 52.59 percent in FY22 over FY21, and net profit rose by 99.06 percent in FY22 over FY21, according to the annual consolidated financial statement. The PE multiple for the stock is 21.50, while the PE multiple for the sector is 66.44. Therefore, everything points to excellent managerial performance, and today there was some new purchasing.
The market capitalization of 3P Land Holdings Ltd, which was founded in 1965, is Rs 37.80 crore. The company produces and sells a variety of papers, including crepe, hygiene, and carbon tissue, as well as poster, craft, and food, flower, and fruit wrapping paper.
The promoters possess 73.30% of the corporation as of September 2022, while the general public owns the remaining 26.70%. The stock has increased by 45.65% in just six months, whereas the BSE Smallcap Index only increased by 14.88%. Investors ought carefully monitor this stock.