At the end of trading, Sensex was down 624.82 points or 0.76 per cent at 81,551.63 and Nifty was down 174.95 points or 0.70 per cent at 24,826.20.
Mumbai: Shares of Steel and automotive player Pavna Industries zoomed around 12 per cent on a volatile day on Tuesday, i.e. on May 27, 2025. The counter opened gap up at Rs 449 on the BSE against the previous close of Rs 402, a surge of 11.69 per cent. However, it fell amid selling pressure and touched an intraday low of Rs 394.20. Last seen, it was trading at Rs 398.95. The 52-week high of the counter is Rs 759.55
Quarterly Results
The company has reported a consolidated net profit of Rs 1.70 crore in the fourth quarter of FY25, a fall of 36.57 per cent from Rs 2.68 crore in the year-ago quarter.
The company’s consolidated revenue from operations in Q4FY25 declined to Rs 66.23 crore. This is a fall of 18.69 per cent from Rs 81.45 crore, year-on-year (YoY).
Signs Agreement With EV player OLA Electric
Steel and automotive player Pavna Industries has signed an agreement with EV player OLA Electric to supply auto components, marking an entry into the domestic EV sector.
As part of the pact, it will provide auto components like ignition switches and latches to OLA Electric across its manufacturing plants in India from its manufacturing unit at Aligarh in Uttar Pradesh, Pavna Industries said in a statement.
“With this partnership, we are foraying into the two-wheeler electric vehicle segment,” Pavna Industries Managing Director Swapnil Jain said.
Shares of the UP-based Pavna Group closed at Rs 561.40 apiece, up 4.99 per cent from its previous close on the BSE.
Meanwhile, the Indian stock market closed in the red on Tuesday due to profit booking.
At the end of trading, Sensex was down 624.82 points or 0.76 per cent at 81,551.63 and Nifty was down 174.95 points or 0.70 per cent at 24,826.20.
The decline was led by FMCG, IT, auto and metal sectors. Nifty Auto index closed down 0.70 per cent, Nifty IT index 0.75 per cent, Nifty Financial Service index 0.64 per cent and Nifty FMCG index 0.88 per cent.
