NIFTY, SENSEX flat; Welspun Corp, Cummins India, Bharat Rasayan, Persistent Systems among buzzing stocks

Equity benchmark indices SENSEX and NIFTY are trading flat with a positive bias. The NIFTY climbed 0.03 points to 24,759, while the SENSEX is up 11 points to 81,323 at 1:18 pm.

From the NIFTY firms, Trent, IndusInd Bank, Tata Steel, Adani Ports, Adani Enterprises, Sun Pharma, and Eternal were among the biggest gainers.

HDFC Life, BEL, Tata Consumer Products, Bajaj Finance, ITC and Bajaj Finserv were among the laggards.

Here are the buzzing stocks on May 29

The company recorded more than 143% growth in consolidated profit after tax to ₹699.19 crore in the latest March quarter due to a decline in expenses. In the year-ago period, it had posted a net profit of ₹287.28 crore.

However, the company's income fell to ₹3,966.86 crore in the reporting quarter from ₹4,543.70 crore in the corresponding period of the previous fiscal year. Its expenses fell to ₹3,639.32 crore from ₹4,292.37 crore a year back.

Meanwhile, the net profit fell 7.2% for the quarter under review at ₹521.37 crore, compared to ₹561.52 crore in the same period a year ago.

The firm's board also recommended a final dividend of ₹33.50 per equity share for FY25.

Its revenue stood at ₹306.5 crore, reflecting a decline of 1% from ₹309.6 crore a year back.

Persistent Systems shares are up 1.3%, Wipro 1.25%, LTIMindtree 1.24%, Coforge 1.15%, Mphasis 1%, Tech Mahindra 0.7%, Infosys 0.6%, HCLTech 0.3%, Oracle Financial Services Software 0.02% and TCS 0.02%.

Revenue from operations surged to ₹1,197 crore in the March quarter of FY25 as against ₹1,176 crore in the year-ago period.

"We are pleased to report a resilient bottom line and cash flow performance this year, despite sales remaining steady. This was achieved with a profitable formulations growth of 18%," Granules India Chairman and MD Krishna Prasad Chigurupati stated.