Redington International, a leading supply chain solutions provider for technology and IT products, emerged as the top gainer on the Nifty 500 index at market open, surging over 13% after reporting robust Q1 results. Net profit climbed 76.6% to ₹486 crore, marking the second-largest single-session surge this year. The stock has gained more than 17% year-to-date and over 21% in the past twelve months. It was trading 4.58% below its 52-week high of ₹338.50 and approximately 5% above its 52-week low of ₹191.31.

Balkrishna Industries, a major manufacturer of off-highway tires used in agriculture, construction, and industrial segments, saw shares jump over 8%, recording the stock's biggest rise this month, as revenue edged past estimates despite softer earnings. EBITDA declined 8% year-on-year to ₹656 crore, with margins contracting to 23.7%. Revenue rose 1% to ₹2,760 crore, as a 4% increase in realisations offset a 3% drop in volumes. The stock has slipped over 2.15% since the start of the year and declined more than 17% over the past twelve months. It was 22% away from its 52-week high of ₹2,775.00 and over 15% above its 52-week low of ₹1,970.00.

Syrma SGS Tech, an electronic manufacturing services provider, gained about 4% at market open following strong Q1 earnings. Net profit doubled to ₹100 crore, revenue grew 67% to ₹1,589 crore, and EBITDA rose 68% to ₹161 crore, with margins holding steady at 10.1% year-on-year. The stock has rallied more than 93% year-to-date and over 82% in the past twelve months. It was just 9% shy of its 52-week high of ₹1,517.70.

Gallant Ispat shares rose over 2% at the opening bell. The stock has climbed more than 12% since the beginning of the year, though it has slumped over 20% over the trailing twelve months. It was 56% away from its 52-week high of ₹948 and over 22% above its 52-week low of ₹496.25.

Wipro, India's fourth-largest IT services company by revenue, saw shares advance above 2% at market open. Despite the day's gain, the stock has slumped more than 29% year-to-date and over 24% in the past year. It was 12% away from its 52-week low of ₹169.00 and over 43% below its 52-week high of ₹273.10.

Notable Decliners

Syngene International, India's largest contract research and manufacturing organisation serving global pharma and biotech clients, saw shares fall nearly 9% after disappointing Q4 earnings. Net profit dropped 19.3% to ₹147.9 crore and EBITDA declined 11.7% to ₹303.4 crore, with margins compressing to 29.3% from 33.8%. Revenue edged up just 1.8% to ₹1,036.5 crore year-on-year. The stock has plummeted nearly 42% year-to-date and over 47.71% over the past twelve months, sitting just 0.4% above its 52-week low of ₹375.25.

Hexaware Technologies shares slipped more than 6% at market open, even though revenue grew 6.4% to ₹3,845.2 crore and margins improved to 13.62%. Net profit fell 6.2% quarter-on-quarter to ₹330 crore. The stock has declined over 23.71% since the start of the year and nearly 19% over the past twelve months. It was 43% away from its 52-week high of ₹829.40 and 44% above its 52-week low of ₹400.20.

Waaree Energies, India's largest solar module manufacturer, saw shares drop over 5%, despite revenue surging 79.2% to ₹7,932 crore and EBITDA growing 44.4% to ₹1,440 crore. Margins contracted to 18.2% from 22.5% year-on-year, weighing on investor sentiment even as the company benefits from India's push for domestic renewable energy manufacturing. The stock has plunged over 12% year-to-date and nearly 18% over the trailing twelve months. It was just 7% above its 52-week low of ₹2,403.00.

Source: CNBC-TV18