Over 25 Nifty 500 stocks gained between 20-58% in April, Aegis Logistics topped the list

Amid important fluctuations during the archetypal 3 weeks of the past month, marketplace sentiment received a boost during the past week, chiefly driven by beardown show successful the banking and car sectors pursuing affirmative net reports for the March quarter.

Indian benchmark indices, Nifty 50 and Sensex closed April with gains of 1.24% and 1.13%, respectively. Nifty 50 experienced important fluctuations, swinging implicit 1000 points successful April.

In the last trading league of the past month, the scale touched a caller grounds of 22783 points, portion the Sensex besides approached its all-time high, falling conscionable 13 points short.

Also Read: Nifty 50 surges 1.2% successful April led by banks and car stocks, IT assemblage lags

Meanwhile, mid- and small-cap stocks bounced backmost from their March slump, driven by regulatory uncertainties and precocious valuations. Investor sentiment improved successful April, resulting successful robust returns for some indices and the attainment of grounds highs.

The Nifty Midcap 100 scale surged by 5.81%, portion the Nifty Smallcap 100 scale recorded a singular rally of 11.40% successful April. Conversely, the Nifty 500 scale continued its upward inclination for the sixth consecutive period successful April, ending with a notable summation of 3.66%. On April 27 Nifty 500 stocks experienced gains ranging from 20% to 58%.

Nifty 500 April winners

In April, Aegis Logistics shares emerged arsenic the apical gainers successful the Nifty 500, soaring by 58%, marking its astir important monthly surge since May 2009. This singular rally followed a ‘buy’ standing initiation by home brokerage steadfast IILF Securities earlier successful the month, attributing the stock's coagulated gross exemplary and robust margins.

Having climbed from its February 2022 lows of ₹167.25 per share, the banal is present trading astatine ₹687 apiece, reflecting an awesome 311% increase.

Tejas Networks, backed by the Tata Group, besides showcased a stellar show successful April, signaling a 57% gain. This surge efficaciously reversed the stock's antagonistic trajectory implicit the preceding 3 months.

April's rally represents the astir important monthly summation for Tejas Networks since its listing successful 2017, propelling the banal to an awesome 3000% maturation implicit the past 4 years.

Similarly, Exide Industries captured attraction passim April with accordant surges to caller highs. The capitalist enthusiasm stemmed from aggregate affirmative developments, including its subsidiary, Exide Energy Solutions, signing a non-binding MOU with Hyundai Motor Company (Hyundai Motors) and Kia Corporation (Kia) to research strategical practice successful India's EV market. Additionally, the institution reported robust financials for the March quarter.

Also Read: Neogen: Kotak Institutional recommends buying the stock, says steadfast has first-mover vantage successful EV artillery chemicals

Several brokerages raised their people terms for Exide Industries, citing beardown maturation prospects. Consequently, the banal ended April with a 52% gain. Similarly, Amara Raja Energy & Mobility besides gained 38.3%. 

Metal stocks, including Hindustan Zinc and Vedanta, besides saw important returns successful April, with gains of 39.5% and 38.4%, respectively. This surge was driven by the crisp summation successful prices of basal metals specified arsenic copper, aluminium, zinc, lead, and nickel.

During the 2nd week of April, planetary brokerage steadfast CLSA upgraded Vedanta's banal standing from ‘underperform’ to ‘buy.’ This upgrade reflects CLSA's optimism regarding Vedanta's prospects amidst the ongoing surge successful metallic prices. Additionally, CLSA revised its people terms for Vedanta's banal to ₹390, positioning it arsenic the second-highest people aft Nuvama's ₹394.

Also Read: Schneider Electric: This multibagger banal turned ₹1 lakh into implicit ₹4 lakh successful conscionable a year

Meanwhile, different stocks specified arsenic Just Dial, Hitachi Energy India, Motilal Oswal Financial Services, Cochin Shipyard, Linde India, Voltas, Aditya Birla Capital, Hindustan Copper, Aditya Birla Fashion, Schaeffler India, Lloyds Metals & Energy, Godrej Industries, JSW Energy, Garden Reach Shipbuilders & Engineers, Sterling and Wilson Renewable Energy, Supreme Industries, IIFL Finance, KFIN Technologies, Nippon Life India Asset Management, HEG, and Whirlpool of India person delivered returns ranging betwixt 20% and 38%, respectively.

Disclaimer: We counsel investors to cheque with certified experts earlier making immoderate concern decisions.

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Published: 02 May 2024, 09:49 AM IST