Top gainer: HDFC Bank 1,725 ▲ 24 (+1.45%)
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Shares of Premier Energies dropped as much as 9% to ₹840.15 apiece on the NSE
Shares of Premier Energies, a leading solar cell and module manufacturer, dropped as much as 9% to ₹840.15 apiece on the NSE on Friday, February 28, as the company’s six-month shareholding lock-in period ends today. However, the stock recovered later, and when last seen, it was trading 4% lower at ₹887.60. According to news reports, which quoted Nuvama Alternative and Quantitative Research, as many as 10.6 crore shares of the company will become eligible to trade today as the lock-in period ends. The number of shares mentioned amounts to 23% of the company’s outstanding equity.
Shares of industrial valve manufacturer KSB rose over 8%
Shares of industrial valve manufacturer KSB rose over 8% on Friday after the company released its financial results for the quarter ended December 2024. The company follows a January to December calendar year. The stock climbed as much as 8.12% to ₹658 apiece on the National Stock Exchange. At 9:39 am, it was up 6.87% to ₹650.35 per unit. KSB reported a 33.15% increase in its consolidated net profit to ₹73.1 crore in the fourth quarter of the calendar year 2024 (Q4 CY24). In the year-ago period, the post-tax profit was ₹54.9 crore. Revenue from operations advanced 20.5% to ₹726.4 crore in Q4 CY24, compared to ₹602.6 crore in the year-ago quarter.
Shares of Transrail Lighting surged as much as 6% to ₹517.70 apiece
Shares of Transrail Lighting, the recently listed company, surged as much as 6% to ₹517.70 apiece in the opening deals on the NSE on Friday, February 28, as the EPC company, on Thursday, said it has secured an order worth ₹2,752 crore in the power transmission and distribution (T&D) sector. However, minutes later, the stock pared gains. Last seen, the stock was trading 2.51% higher at ₹500.30 apiece on the NSE.