As the festival of light is set to brighten up your house, the stock market is seeing its own illuminating spectacle, with a select group of stocks showcasing stellar performances from Diwali 2022 to Diwali 2023.
The Indian index, which gave returns of 6% from last Diwali to this, has been overshadowed by these top 10 stocks that surged, delivering substantial gains.
L&T: +52.36%
L&T (Larsen & Toubro) takes the lead with a remarkable 52.36% surge in the past year. This surge is attributed to a robust 19% YoY increase in revenue from operations in the second quarter of the fiscal year, reaching ₹51,024 crore. Improved execution of a substantial order book has earned L&T a positive outlook from analysts.
NTPC: +38.90%
NTPC, reflecting the energy sector’s resilience, has seen a significant uptick of 38.90%. The government’s focus on electrifying every corner of the country has benefited NTPC, given its status as a government PSU.
ONGC: +38.72%
ONGC’s (Oil and Natural Gas Corporation) exemplary efforts in transforming frontier areas into new hydrocarbon provinces have led to a surge of 38.72%. From a modest beginning, ONGC has evolved into one of the world’s largest Exploration and Production (E&P) companies in terms of reserves and production.
IndusInd Bank: +33.05%
IndusInd Bank’s impressive 33.05% growth is fueled by analysts’ confidence in its growth prospects. Factors such as a rebound in loan demand, rising digital adoption, and product innovation contribute to the bank’s positive outlook.
Power Grid: +31.62%
With board-approved fundraising and a positive outlook from analysts, Power Grid Corporation has demonstrated its vital role in India’s power infrastructure, resulting in a significant growth of 31.62%.
Coal India: +28.92%
Coal India has surged by 28.92%, driven by a 10.5% YoY increase in production and an 8.5% YoY uptick in offtake in the April-September period of FY24. SECL’s volume uptick has played a pivotal role in this growth.
UltraTech Cement: +27.05%
UltraTech Cement’s strategic expansion plans, aiming to reach 159.65 million tonnes per annum by June-end (FY25), have fueled its impressive 27.05% surge. Investors’ excitement about these expansions is evident, with shares up 34% in the past year.
Titan Company: +23.26%
Titan Company’s outstanding sales growth, beating estimates, has contributed to a 23.26% surge. Analysts note that Titan is among the few consumer companies consistently growing revenue, despite the high base and discretionary nature of its product segments.
Apollo Hospital: +22.52%
The healthcare sector, exemplified by Apollo Hospitals, has seen a solid gain of 22.52%. This underscores the importance of resilient health infrastructure in the current economic landscape.
ITC: +21.63%
ITC’s consistent impressive performance in its FMCG business, with nearly 19% revenue growth and margin improvement despite elevated raw material costs, has led to a 21.63% surge in the past year.