Stocks in News Today

Our analysts at 5paisa scan through the financial markets and select the few trending stocks which were in the news and in the limelight for the day. Here is the list of a few trending stocks with their latest News and Updates.

Trending Stocks Today: 24-May-2024

1. Indigo

• The company's net profit increased by 106 percent year over year to Rs 1,894 crore. This was mostly due to the robust demand for air travel, robust capacity expansion, low costs for jet fuel or aviation turbine fuel (ATF), and rising yields, which were somewhat offset by aircraft on the ground (AoG).
• By putting bulk purchase orders for engines and planes, IndiGo has been taking large risks and assisting OEMs in negotiating advantageous terms. The airline operates flights to a restricted number of point-to-point destinations that are chosen based on the market's desirability.

2. Deepak Nitrite

• Deepak Nitrite, a manufacturer of specialty chemicals, continued to lose money from the previous trading session as brokerages maintained their negative view of the business.
• Deepak Nitrite revealed on May 20 that its net profit for the March quarter of the fiscal year 2023–24 increased by 8.5 percent year over year to Rs 253.85 crore, including a gain of Rs 51.6 crore from exceptional items. When the extraordinary item—claims from an insurance company—is taken out of the equation, the net profit for the quarter decreased by 14% year over year.

3. Garden Reach Shipbuilders

• Investors praised Garden Reach Shipbuilders & Engineers for its strong fourth quarter performance, which sent the company's shares soaring over 18% to a new all-time high of Rs 1,411 per share on May 23. Compared to the same quarter last year, the company's sales in Q4 increased by 69% to exceed Rs 1,000 crore. On an annual basis, the company's net profit doubled to Rs 112 crore during the quarter.