Radico Khaitan rallied 9% to Rs 479 on the BSE. Thus far in the month of May, the stock surged 14% after the company reported a more than doubled net profit at Rs 342 million in March 2018 quarter. It had profit of Rs 166 million in the same quarter last fiscal.
MM Forgings surged 10% to Rs 1,292, extending its previous day’s 4% gain on the BSE after the board of directors of the company recommended issue of bonus shares in the ratio of 1:1 i.e. one bonus equity share for every one share held on the record date.
Hexaware Technologies hit a new high of Rs 459, up 6% on the BSE, gaining 19% post March quarter results on May 4, 2018. The company reported a better than expected 11% sequential growth in its consolidated net profit at Rs 1.34 billion in March quarter (Q1CY18). Revenue grew 4.4% at Rs 10.49 billion over the previous quarter.
Analysts on an average had expected profit of Rs 1.29 billion on revenue of Rs 10.37 billion from the information technology company. On CC (constant currency) terms revenue growth was 3.3% at $161.2 million against analyst estimate of 2.5% during the quarter.
Avenue Supermarts was up nearly 1% to Rs 1,540, its highest level since listing on March 21, 2017. The stock rallied 14% from its recent low of Rs 1,348 on May 21, 2018 after the founder Radhakishan Damani completed sale of 6.24 million shares, or 1%, of total equity of the company for achieving minimum public share holding.
Edelweiss Financial Services was too hit a new high of Rs 342, up 4% on the BSE in intra-day trade. Thus far in May, the stock soared 19% after the company reported a healthy 45% growth in net profit at Rs 3.08 billion in Q4FY18 over the previous year quarter. Total revenue grew 35% at Rs 26.23 billion against Rs 19.45 billion in the corresponding quarter of previous fiscal.