Hot stocks on May 2, 2023: Adani Green Energy, Jet Airways, Tata Motors, Welspun India, and more
The stock market started well today because people were buying a lot of bank, finance, technology, metal and energy stocks. The BSE Sensex went up 313 points to 61,425 and the NSE Nifty went up 102 points to 18,167.
VK Vijayakumar from Geojit Financial Services said that India did better than other Asian countries and developed markets in April.
Good company results, especially from banks, and high GST collections also helped. The market is strong and people are feeling positive.
Jet Airways’ stock price went down 5% today because the CEO-Designate Sanjiv Kapoor left the company.
He had joined as CEO in April 2022. The stock price went down to Rs 55.83, which is the lowest it has been in a year.
Tata Motors’ stock price went down 2.17% to Rs 474.6 today. It was the biggest drop on the Sensex. The company said that they sold 4% less in April 2023 than they did in April 2022.
They sold 69,599 units last month. The stock started at Rs 485.15 on BSE today. The company is now worth Rs 1.58 lakh crore.
UltraTech Cement’s stock price went down 1% to Rs 7436 today because of their Q4 earnings. The stock had gone up for the last three days.
The company made 12.71% more profit in the March quarter than they did last year. They made Rs 1,666 crore compared to Rs 1,478 crore last year
Kotak Mahindra Bank’s stock price went down 1.23% to Rs 1913 today after going up for two days.
The bank made 26.3% more profit in the March quarter than they did last year. The bank is now worth Rs 3.80 lakh crore.
An insurance company’s stock price went up 1.66% to Rs 601.50 on Monday because they made a profit of Rs 101.79 crore in Q4 FY23. Last year they lost Rs 82.04 crore in Q4FY22.
Welspun India’s stock price went up 12.96% to Rs 99 on Monday because the company said they will buy back shares worth Rs 195 crore.
Adani Green Energy’s stock price went up 5% on Tuesday because they made four times more profit in the March quarter than they did last year.
They made Rs 507 crore because they made more money. The company is now worth Rs 1.54 lakh crore.
The experts’ opinions are their own and not Business Today’s. Investors should talk to their financial advisors before making any decisions.