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Gainers & Losers: Top 10 stocks that moved the most on May 24 The strong buying momentum lifted the two benchmarks to scale new peaks. The Nifty 50 surpassed the 23,000-mark for the first time ever while the Sensex inched closer to the 75,500-level. However, the two indices pared much of their early gains to close largely flat on May 24. At close, the Sensex was down 7.65 points or 0.01 percent at 75,410.39 while the Nifty lost 10.60 points to end at 22,957.10.

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Buy Star Cement; target of Rs 262: Asit C Mehta STRCEM reported a mixed set of numbers, EBITDA and blended realisation in line with our estimate, while revenue and volume are marginally ahead of our estimate. Revenue up by 10.1% YoY (+40.2% QoQ) to Rs9.13bn, mainly led by 13.8% YoY (+43.7% QoQ) increase in volume of 1.41mt (1.387mt cement + 0.024mt clinker) sales. However, realisation was down by 3.3% YoY and 2.4% QoQ to Rs6474. EBITDA in absolute number stood at Rs1.8bn (+8.1% YoY, +20.8% QoQ) and EBITDA margin stood at 19.7% in Q4FY24 vs. 20%/22.8% in Q4FY23/Q3FY24, respectively. EBITDA/tn was down by 5% YoY and 15.9% QoQ to Rs1274 due to lower realisation, higher logistics cost coupled with increase in raw material cost. Overall opex per tonne is down by 2.8% YoY, but increased by 1.6% QoQ. P&F cost per tonne was down (-38.5% YoY, -39% QoQ) and employee cost per tonne was down (-13.7% YoY, -30.1% QoQ). PAT stood at Rs877mn (-8.8% YoY, +19.2% QoQ).

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Trader's corner: Healthcare finally shows defensive strength, good bet to protect from volatility At a time when there is heightened volatility in the market as investors are treading cautiously ahead of the poll results on June 4, healthcare as a sector comprising companies from the pharma, hospitals, diagnostic labs, and medical devices segment has emerged as a strong defence, according to independent investor and trader Praveen Kumar. "As we move towards the electoral mandate, volatility spreads its wings across the board,” said Kumar. Incidentally, India VIX, the fear gauge, is currently trading around 21.50 levels. “Although the market is trading near its all-time high, sentiments are fearful as everyone awaits the results of one of the biggest events in the country, directly impacting the market and economy. Q4 earnings have shown a mixed bag performance so far, with very few sectors posting good results overall. The healthcare sector is one such sector,” he added.

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Suzlon Energy stock falls 5% as firm reports 9% drop in Q4 net profit Revenue from operations increased 29 percent to Rs 2,179 crore in the quarter under review from Rs 1,689 crore in the same period lat fiscal. Suzlon Energy Ltd on May 24 reported a 9 percent fall in consolidated net profit at Rs 254 crore in the quarter ended 31 March, 2024. The company had posted a net profit of Rs 280 crore in the year-ago period. Revenue from operations increased 29 percent to Rs 2,179 crore in the quarter under review from Rs 1,689 crore in the same period lat fiscal. Post the poor quarterly earnings report, shares of Suzlon Energy fell nearly 5 percent to Rs 46 apiece on BSE at 3:10 pm IST. The stock has gained 9 percent in last one month and 19 percent in year-to-date. Recently, the renewable energy solutions provider had said it has bagged new orders for the development of 402 MW wind energy projects from Juniper Green Energy.

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Six Adani group stocks trade at pre-Hindenburg report levels Six Adani group stocks, including Adani Enterprises Ltd, Adani Green Energy Ltd and Adani Ports & SEZ, have erased the losses triggered by a critical Hindenburg report and are now trading above their January 2023 levels Six Adani Group stocks, including Adani Enterprises Ltd, Adani Green Energy Ltd and Adani Ports & SEZ, have erased the losses triggered by a critical Hindenburg report and are now trading above their January 2023 levels, when the report was published by the short-seller. The other four stocks Adani Total Gas, Adani Energy Solutions, Adani Wilmer and NDTV still trade below pre-Hindenburg levels. Adani Total Gas is still down 74 percent from its pre-Hindenburg high, Adani Energy Solutions is down 59 percent, Adani Wilmar 35 percent, and NDTV 11 percent down.

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Bikaji Foods surges 9% on robust Q4 results; Emkay Global sees 21% upside Shares of Bikaji Foods International zoomed over nine percent on May 24 after the firm posted a massive 200 percent jump in net profit at Rs 116.3 crore and revenue from operations rose 12.8 percent YoY to Rs 520.8 crore in the quarter ended March 2024. Bikaji's EBITDA rose 10.2 percent on-year to Rs 67.5 crore during the quarter under review, while margin stood at 13 percent in the said quarter. The board of the company also approved a final dividend of Rs 1 per equity share. Bikaji Foods International is the third largest ethnic snacks company in India, selling Indian snacks and sweets. On the bottom-line front, the snack maker's EBITDA margin for FY24 stood at 16.8 percent, led by reduction in commodity prices, superior mix, operating leverage and effective cost management.

Landmark Cars stock slumps 7% after dismal Q4 show Shares of Landmark Cars Limited slipped in afternoon trade, falling 7 percent to Rs 713 apiece after the company's net profit fell considerably in March quarter. The luxury car dealer's net profit for the fiscal fourth quarter nosedived over 54 percent to Rs 11 crore as against Rs 24.26 crore reported during the year-ago period. On a quarter-on-quarter basis, the company’s net profit fell more than 40 percent from Rs 18.5 crore.

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How to trade Nifty for May 30 weekly expiry? The immediate supports for the Nifty index are placed around 22,700 and 22,500, while on the higher side, the index has the potential to rally towards the 23,400-23,500 zone. At 13:03 hrs IST, the Sensex was up 91.89 points or 0.12 percent at 75,509.93, and the Nifty was up 35.30 points or 0.15 percent at 23,003.00. The strong resurgence of bulls has driven the Nifty to touch a new all-time high of 23,004.05 in today's morning trading session. By noon, the Nifty traded flat at around 22,900 levels, with support at 22,700. The index targets have now shifted towards 23,500 levels. Experts suggest taking a bull call spread or a long broken wing call condor spread for the May 30 weekly expiry to capture the bullish momentum. Amid rising volatility and new all-time highs, here's how experts are positioning the market: Ruchit Jain, Lead Research at 5Paisa.com, said: "The immediate supports for the Nifty index are placed around 22,700

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UPL, Aarti Industries shares gain on agreement to manufacture specialty chemicals This arrangement is a first of its kind partnership between two large Indian companies to develop, manufacture and market the downstream and value-added chemical intermediates for global markets Shares of UPL and Aarti Industries were trading higher in the early trade on May 24 after the companies entered into joint venture agreement to manufacture specialty chemicals. At 09:17am on May 24, Aarti Industries's shares were quoting at Rs 643.95 apiece, up 2.64 percent and UPL was quoting at Rs 517.60, up 1.42 percent, on the BSE. "Aarti Industries and company entered into a joint venture (JV) 50-50% partnership for manufacturing and marketing of specialty chemicals that find application in multiple downstream industries," UPL said in a press release on May 23. This arrangement is a first of its kind partnership between two large Indian companies to develop,

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Transformers and Rectifiers locked at upper circuit on receiving orders worth Rs 359 cr Transformers and Rectifiers shares were locked at 5 percent upper circuit in the early trade on May 24 after the company won domestic and export orders worth Rs 359 crore. At 09:19am, Transformers and Rectifiers India's shares were were quoting at Rs 619.60 apiece, up 5 percent, on the BSE. There were pending buy orders of 24,356 shares, with no sellers available. The company has received three orders worth Rs 359 crore, including an export order of transformers worth Rs 161 crore from AL Anwaar International. Additionally, it has bagged an orders of transformers worth Rs 198 crore from Adani Group.

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Vodafone Idea stock jumps 5% on UBS upgrade; analysts see up to 80% upside Vodafone Idea (Vi) shares surged around 5 percent on May 24 after UBS upgraded the stock to a 'Buy' rating from 'Neutral', with a revised target price of Rs 18 from Rs 13.10 earlier. The international brokerage, which sees scope for a 70-80 percent rally in the stock ahead, said that relief in the form of AGR reduction by the Supreme Court or equity conversion, along with government moratoriums, is highly likely, especially given the government's stated objective of ensuring three viable private telcos. Currently, UBS has set a target price of Rs 18 for Vi, with considerations based on a 50 percent probability of AGR dues waiver. While there are other potential relief measures such as spectrum due cancellation, deferral, or equitisation, the brokerage considers these to be less probable and therefore, they are not factored into its base price target calculations.