Sundram Fasteners Ltd Share Price – NSE  /  BSE

Auto Ancillaries, Small Cap

Sundram Fasteners will hold a meeting of the Board of Directors of the Company on 31 July 2024.

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Praj Industries Ltd, Rajesh Exports Ltd, One 97 Communications Ltd, Orient Electric Ltd are among the other stocks to see a surge in volumes on BSE today, 31 May 2024.

Sundram Fasteners Ltd witnessed volume of 7.42 lakh shares by 10:47 IST on BSE, a 293.8 times surge over two-week average daily volume of 2526 shares. The stock increased 3.76% to Rs.1,198.90. Volumes stood at 2035 shares in the last session.

Praj Industries Ltd registered volume of 1.59 lakh shares by 10:47 IST on BSE, a 5.99 fold spurt over two-week average daily volume of 26591 shares. The stock rose 4.26% to Rs.523.00. Volumes stood at 38753 shares in the last session.

Rajesh Exports Ltd notched up volume of 1.54 lakh shares by 10:47 IST on BSE, a 5.35 fold spurt over two-week average daily volume of 28769 shares. The stock slipped 4.64% to Rs.286.55. Volumes stood at 67652 shares in the last session.

One 97 Communications Ltd registered volume of 15.96 lakh shares by 10:47 IST on BSE, a 5.19 fold spurt over two-week average daily volume of 3.07 lakh shares. The stock rose 1.97% to Rs.384.95. Volumes stood at 2.36 lakh shares in the last session.

Orient Electric Ltd registered volume of 1.29 lakh shares by 10:47 IST on BSE, a 4.71 fold spurt over two-week average daily volume of 27357 shares. The stock rose 2.87% to Rs.229.30. Volumes stood at 17165 shares in the last session.

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Sundram Fasteners announced that the 61st Annual General Meeting(AGM) of the company will be held on 9 August 2024.

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The headline equity indices continued to trade with strong gains in mid-afternoon trade. The Nifty march above the 22,900 level after hitting the day’s low of 22,577.45 in early trade. Auto shares advanced after witnessing selling pressure for two consecutive trading session. Trading could be a volatile due to the expiry of weekly index options on the NSE.

At 13:30 IST, the barometer index, the S&P BSE Sensex, surged 1,002.77 points or 1.35% to 75,222.01. The Nifty 50 index jumped 308.80 points or 1.37% to 22,906.60.

The Sensex and Nifty clocked an all-time high of 75,407.39 and 22,959.70 in early mid-afternoon trade.

In the broader market, The S&P BSE Mid-Cap index added 0.38% and the S&P BSE Small-Cap index rose 0.47%.

The market breadth was negative. On the BSE, 1,775 shares rose and 1,997 shares fell. A total of 139 shares were unchanged.

Economy:

The Reserve Bank of India (RBI) announced a transfer of Rs 2.11 lakh crore to the government for the financial year 2023-24. This represents the highest surplus transfer on record by the central bank. This surplus will be reflected in the government's accounts for the financial year 2024-25, providing a significant boost to their fiscal position.

HSBC Flash India Composite Output Index rise from a final reading of 61.5 in April to 61.7, which indicated the third-strongest rate of expansion in close to 14 years. Services firms recorded a sharp increase in business activity, the steepest in four months, while factory production rose at the slowest pace since February. Nevertheless, manufacturing continued to record a stronger rate of growth than services.

HSBC Flash India Manufacturing PMI slipped from 58.8 in April to 58.4 in May, showing the weakest improvement in the health of the sector for three months but one that remained strong by historical standards.

HSBC Flash India Services PMI Business Activity Index stood at 61.4 in May as against 60.8 in April.

Latest data highlighted further signs of strength in new export orders across both the manufacturing and service sectors.

Buzzing Index:

The Nifty Auto index gained 2.03% to 23,798.45. The index shed 0.09% in past two consecutive trading sessions.

Samvardhana Motherson International (up 3.11%), Maruti Suzuki India (up 3.07%), Mahindra & Mahindra (up 2.94%), Eicher Motors (up 2.89%), Hero MotoCorp (up 1.99%), Ashok Leyland (up 1.95%), Bajaj Auto (up 1.6%), Tata Motors (up 1.47%), Tata Motors-DVR (up 1.35%) and TVS Motor Company (up 1.24%) advanced.

On the other hand, Balkrishna Industries (down 1.78%), Apollo Tyres (down 1.48%) and Bosch (down 0.66%) edged lower.

Numbers to Track:

MCX Gold futures for 5 June 2024 settlement fell 1.07% to Rs 72, 268.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.14% to 104.78.

The United States 10-year bond yield grew by 0.11% to 4.440.

In the commodities market, Brent crude for July 2024 settlement gained 22 cents or 0.27% to $ 82.12 a barrel.

Stocks in Spotlight:

Sundram Fasteners declined 1.77%. The company reported 5.44% rise in consolidated net profit to Rs 134.41 crore in Q4 FY24 from Rs 127.47 crore in Q4 FY23. Revenue from operations increased 1.28% YoY to Rs 1,466.48 crore in the fourth quarter of FY24.

HEG tumbled 9.92% after the company's consolidated net profit slipped 67% to Rs 32.91 crore on 11.34% decline in revenue from operations to Rs 546.90 crore in Q4 FY24 over Q4 FY23.

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