Over 45 Nifty 500 stocks gained between 10% and 50% in Jan so far; Sobha, JBM Auto among top gainers – check full list
Also Read: Outlook 2024: Valuations, earnings, pre-election optimism to fuel Indian stock market, says Standard Chartered Against this backdrop, certain stocks have experienced a notable surge. Within the Nifty 500 index, 47 stocks have demonstrated gains ranging from 10% to 50% in the current month so far. Shares of billionaire Mukesh Ambani-owned Network18 stood as the top gainers in the current month, with a gain of 50% so far.
The stock in today's trading session gained 13% to hit a new 52-week high of ₹135 apiece. In the previous trading session, the stock was locked in the 20% upper circuit limit on multiple block deals. Sun Pharma Advanced Research Company also experienced a significant rally in January, delivering a return of 34.45% so far.
On January 05, the shares surged by nearly 10% to register a new one-year high of 423.35 apiece. Also Read: Nifty PSE index surges 81% in a year with 4 stocks including REC, PFC surging over 100%; should you invest? Shares of Sobha, a real estate developer, witnessed a sharp gain of 35% in the current month so far, marking their best monthly performance since January 2012. On January 04, the company reported its highest-ever quarterly sales value of ₹19.52 billion for Q3 FY24, reflecting a growth of 37.0% over Q3 FY23 and 13.2% compared to the preceding quarter (Q2 FY24).
Other real estate stocks, such as Prestige Estates Projects, Godrej Properties, and Macrotech Developers, also delivered returns between 11 and 18% in the current month so far. JBM Auto was another stock that gained over 30% this month. In the previous trading session, the stock gained over 2% after media reports indicated that the government is planning to set up funds with an outlay of up to ₹300 billion to
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