Bulls are in control on Dalal Street as Indian markets hit an all-time high level in Wednesday's trading session. Sensex crossed 64,000 important mark and Nifty also hit 19,000 level. Investor wealth, as suggested by the BSE m-cap, rose Rs 1.84 lakh crore to Rs 293.97 lakh crore in Wednesday's trading session compared with a valuation of Rs 292.13 lakh crore recorded in the previous session.
Experts believe that the bullish momentum was supported by strong FII inflows and a narrowing current account deficit, both of which positively impacted investor sentiments. According to the NSDL data, the foreign institutional investors have invested over $10 billion in FY24 so far.
Shares of Mazagon Dock Shipbuilders, Rail Vikas Nigam, Apar Industries, Jindal Stainless, Lloyds Metals & Energy, Triveni Turbine, Suzlon Energy are among the top 7 BSE 500 that have delivered stellar amount of return to its investors as the stocks have recovered up to 400 per cent from their recent lows. Take a look!
1) Mazagon Dock Shipbuilders
52-week low: Rs 241.60 Closing price(June 26, 2023): Rs 1,257.10 Up from 52-week low: 420%
Mazagon Dock Shipbuilders is a shipbuilding and offshore fabrication yard. The company's major activities include shipbuilding, ship repairs and fabrication of offshore structures. It provides warships, merchant ships, submarines, support vessels, offshore platforms, passenger cum cargo vessels, trawlers, main and helidecks and barges.
At the end of FY23, Mazagon Dock had an order book of Rs 38,755 crore, which was spread over two critical projects namely the Rs 15,814 crore in P15B Destroyers and Rs 18501 crore in P17A stealth frigates. There were Rs 4,255 crore of works confined to P75 Scorpene-class submarines and Rs 100 crore related to medium refit and life certification of submarine work. Antique Stock Broking noted that the order book was 5 times FY23 revenue.
2) Rail Vikas Nigam
52-week low: Rs 29.75 Closing price(June 26, 2023): Rs 123.20 Up from 52-week low: 314%
RVNL is an executing arm of Indian Railways and works for and on behalf of the ministry for projects assigned to it for execution. It works on a turnkey basis and undertakes the full cycle of project development from conceptualisation to commissioning including stages of design, preparation of estimates, calling and award of contracts, project and contract management.
Recently, the shares were in focus after the firm received three letters of acceptance (LoAs) from Chennai Metro Rail for various underground stations for second phase of the project.
3) Apar Industries
52-week low: Rs 906.20 Closing price(June 26, 2023): Rs 3,348.50 Up from 52-week low: 269.5%
Apar Industries is a manufacturer and supplier of conductors, cables, Speciality oils, polymers and lubricants in various sectors such as Power T&D, Indian Railways, Automotive, Telecom, Defence etc. APR is also a largest global aluminum & alloy conductor’s manufacturer, 3rd largest global manufacturer of Transformer oil and biggest cable manufacturer of renewables in India.
Prabhudas Lilladher believes that Apar’s focus towards value added products and strong traction in exports business will drive strong topline and profitability in the long run.
4) Jindal Stainless
52-week low: Rs 97.25 Closing price(June 26, 2023): Rs 328.05 Up from 52-week low: 237%
Jindal Stainless reported a 20% fall in net profit to Rs 716.29 crore in the March 2023 quarter. However, on a quarter-on-quarter basis, the firm reported a 40% rise in profit from Rs 512 crore in the December quarter. The metal firm’s board approved a proposal to raise Rs 5,000 crore via issue of debt securities.
"Over FY23-25E, we expect the topline to grow at a CAGR of 14% while EBITDA, PAT are expected to register CAGR of 13%, 16%, respectively," said ICICI Direct.
5) Lloyds Metals & Energy
52-week low: Rs 132.45 Closing price(June 26, 2023): Rs 383.50 Up from 52-week low: 189.5%
Lloyds Metals & Energy Ltd. (Lloyds) was incorporated in 1977 as a steel manufacturing company. It is the largest coal-based DRI manufacturer of Maharashtra, Ghugus Village, Chandrapur district, with a production capacity of 270,000 TPA, along with a captive power plant with a 30MW capacity. Forward integration of this plant is being planned.
The multibagger stock has delivered over 3000 per cent return in the last three years. Ventura Securities has a 'Buy' rating on the stock with a target price of Rs 1,040.
6) Triveni Turbine
52-week low: Rs 153.25 Closing price(June 26, 2023): Rs 404.55 Up from 52-week low: 164%
Prabhudas Lilladher believes that the company is well placed to benefit from continued strong inquiry pipeline in domestic as well as exports market, strong market share in domestic market (0-100MW), traction from 30-100MW & API turbine, and focus on aftermarket segment with strategy to penetrate into newer geographies for third party turbine refurbishment. It has downgraded the stock to ‘Accumulate’ with revised target price of Rs 416 (Rs340 earlier), valuing it at 37x FY25E given strong business outlook (35x earlier).
7) Suzlon Energy
52-week low: Rs 5.43 Closing price(June 26, 2023): Rs 14.03 Up from 52-week low: 158.6%
Suzlon Energy is a provider of renewable energy solutions. The company is a producer of wind turbines. It offers a range of solar energy solutions, such as solar irradiance assessment, land acquisition and approvals, infrastructure and power evacuation, supply chain, installation and commission and life cycle asset management.
The shares were in focus after the firm said it has surpassed 20 GW in wind energy installations. The company said 20 GW wind energy installations were accomplished through the deployment of 12,647 wind turbines across 17 countries, spanning six continents. Suzlon holds a 33 percent share of India's cumulative wind energy installations.
Disclaimer: The stocks mentioned in the story are for information purposes only. Investors or market participants should consult their financial advisors before taking any position
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