The markets have been trending higher for the second consecutive session on Thursday. The food delivery major occupied the top spot for the second straight day with almost a 5% rally in today’s trade. Here’s a list of the top five movers that surged the most on the Nifty 50.
Zomato
The share price of Zomato has been rallying for the past few sessions. The stock has been in high demand, gaining 12.5% in the past one week. Zomato’s share price has raised investors’ wealth by 7% in the past one month. The company, which is now named Eternal, has a market capitalisation of Rs 2.48 lakh crore. It has a price-to-earnings ratio of 469.78. The food-delivery giant is also in the business of quick commerce. It has recently joined the Nifty 50.
Dr Reddy’s Lab
The pharma major Dr. Reddy’s Lab’s share price has risen 3% in today’s trade and was one of the top five gainers in the Nifty 50. The company has collaborated with Alvotech to co-develop, manufacture, and commercialise a biosimilar version of Keytruda (pembrolizumab) for global markets. Keytruda ia cancer treating drug. The stock price has moved up 14.5% in the past three months. It has raised investors’ wealth by 49.72% in the previous three years.
Trent
Another stock that topped the charts was Trent. The Tata Group stock rose more than 3%. It has risen 5.56% in the last one month. The stock has increased by 11% in the previous three months. Trent’s market capitalisation stands at Rs 2.02 lakh crore. Its PE ratio stands at 130.91, and its PB ratio at 43.27. Over the last four quarters, the foreign institutional investors have diluted their stake in Trent from 26.81% to 19.65%.
Power Grid Corporation
The stock price of Power Grid Corporation surged 2% in today’s trade and was one of the top five gainers in the Nifty 50. The stock has fallen 4.6% in the past one month. However, it has risen by 11.6% in the previous six months. Power Grid Corp’s share price has declined by 1.5% in the previous one year. The company has a market capitalisation of Rs 2.74 lakh crore. The company garnered a PE ratio of 17.63 and a PB ratio of 2.97. The FIIs have also reduced their holding over the last four quarters in Power Grid Corp. from 29.82 to 26.79, according to data on top gainers on FinancialExpress.com.
Shriram Finance
Shriram Finance’s share price has also been on an upward trend, gaining 1.4% in Thursday’s trade. The stock has given a return of 3.5% in the past one month. The domestic broker Motilal Oswal maintained its bullish call on Shriram Finance, looking at an upside of 23% over the next 12 months. The brokerage has set a target price of Rs 800, reaffirming its ‘Buy’ rating. The brokerage house said that the company’s portfolio, improving return ratios, and growth outlook in the coming quarters are the reasons for the rating.