Over 25 Nifty 500 stocks rose between 100% and 482% since last Diwali; Jindal Saw top performer
Jindal Saw, whose shares have generated a tremendous return of 482%, spiking from ₹82.85 apiece to the current level of ₹482.55. On November 7, the shares hit a record high of ₹485. Also Read: Diwali 2023: What is ‘samvat’ and why does it hold significance for stock market investors? Fertilizers and Chemicals Travancore was the second top gainer in the Nifty 500 index.
Over the last one-year period, the stock has risen from around ₹132 to 710 levels, representing a nearly 438% increase. Suzlon Energy stock was another star performer that rewarded its shareholders with massive returns in a very short period. The shares, which were trading at ₹8.15 apiece a year ago, have jumped 358% to trade at the current price of ₹37.35 apiece.
This sharp uptick in shares was attributed to the company's strong order wins and strong financial performance. Taking the current market into consideration, the stock is trading at a 12-year high. Also Read: IRFC, IndiGo, BoB among 9 stocks that crossed ₹1 lakh crore in m-cap since last Diwali The company recently released its Q2 FY24 numbers, which exceeded analyst estimates.
It posted a net profit of ₹102.29 crore, an 81% jump over Q2 FY23's net profit of ₹56.47 crore. Following the company's strong set of numbers, brokerage firm JM Financial has lifted its target price on the stock to ₹37 apiece. However, the stock is currently trading above the brokerage's target price.
Since its listing, Kaynes Technology India stock has been on a steady upward trajectory, currently trading at a remarkable 317.9% above its issue price of ₹587 per share. The stock finished the last 12 months in the green, with May 2023 being the largest monthly gainer at 44.89%. This was followed by July and September, which
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