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ETMarkets.com analysed BSE stocks with over Rs 500 crore market cap wherein promoters raised stake by 200 bps or 2% QoQ.

Promoters held 0.0 per cent stake in the company as of 31-Mar-2023, while FII and DII ownership stood at 22.85 per cent and 14.96 per cent, respectively.

Trident, a textile fabric manufacturer, reported a 28.4% YoY drop in Q4FY23 net profit, at Rs 129.7 crore. Revenue from operations declined 15.9% YoY to Rs 1,573.2 crore due to lower revenue across its yarn, towel and bedsheets divisions. Trident’s paper and chemicals unit, however, grew by 22%. Its EBITDA for Q4FY23 slipped 20.5% YoY to Rs 268.4 crore. The company’s share price fell 9% to Rs 31.6 on the BSE.

At least 37 BSE-listed Indian companies have maintained their EBITDA margin over 15% in every quarter of FY23 and have seen their stock prices rise by over 50% in the past year, revealing eight small-cap multibaggers. These include Mold-Tek Technologies, with steady growth and operating margin expansion; Elecon Engineering Company, with a 25% ROCE and better earnings quality; and Nitta Gelatin India, boasting a global presence and relatively low valuation. The screener avoided financial stocks and firms with market caps under INR500 crore.

The company said that growth in AUM was led by robust systematic investment plan (SIP) flows and acquisition of Karvy’s mutual fund folios. The company, which distributed a wide range of financial products, reported a cash flow from operations of Rs 127 crores during the year.

Shares of ITC have reached a new 52-week high, gaining 5% in five consecutive trading sessions and trading with high volume. The stock surpassed the price target of Rs 440 set by BoFA following the announcement of its Q4FY23 earnings, which reported a 23% YoY growth in consolidated net profit. Despite its ascent, the stock has had low volatility and traded with a 1-month beta of 0.43, according to Trendlyne data. Brokerage Nuvama has retained a ‘BUY’ on ITC with a SoTP-based target price of Rs 500.

I think if you look at it largely from a novelist viewpoint, auto and aerospace are doing extremely well and the demand is extremely strong and expected to continue.

A total of 4,210 shares changed hands on the counter till time (IST).

​But my own belief is as interest rates start coming down the next year and supported by good growth coming in, probably we should see some kind of premium valuation starts coming in, which probably should see it coming in next year.

The Relative Strength Index of the stock stood at 80.76 on Thursday.