Sobha: This Bangalore-based real estate company was the top gainer on Thursday rising 19.15% during trade touching a 52-week high of Rs 678.30. This comes as investors are turning positive on real estate companies as their Q1FY22 business updates swung them back in favour of market participants. The company’s sales value rose 45% YoY to Rs 570.9 crore. 

L&T Technology Services: This technology services company posted good Q1FY22 results  as its consolidated net profit rose 11.2% quarter-on-quarter (QoQ) to Rs 216.2 crore, while revenues rose 5.4% QoQ to Rs 1,518.4 crore. The company also raised its FY22 revenues growth guidance to 14-16% YoY on a constant currency basis from 12-14%. In response to this, the stock touched its all-time high of Rs Rs 3,493 on Thursday.

GAIL (India): This gas utility company’s shares saw four brokerage target price upgrades over the past month after it announced its Q4FY21 results last month. Brokerages are enthusiastic about the prospects of the company’s gas transmission business. The management guided for a 6-8% compounded annual growth in its gas trading volumes over the next three years. From FY25 onwards, this business will grow faster, according to the management. Its average target price is Rs 170.11, which means a 17.8% upside from the current price.

Sunteck Realty: This real estate company in its Q1FY22 operations update recently said it saw a 74.2% YoY growth in bookings in Q1FY22 to Rs 176 crore and its collections from projects rose 2.6 times to Rs 172 crore. In response to this update, the company’s stock rose 6% over the past three trading sessions.

Wipro: This IT services company delivered its best-ever quarterly profits in Q1FY22 at Rs 3,242.6 crore (up 9.1% QoQ) on the back of a 12.2% sequential growth in dollar revenues of its IT services business to $ 2.4 billion. Its margins took a hit and fell 150 bps to 18.8% as employee costs rose by 19.2% QoQ on the back of a second salary hike in 2021. Margins also fell because of a 14.5% QoQ rise in subcontracting expenses as demand for talent rose due to a pick up in business.