Paytm, 13 other Nifty 500 stocks shine amid selling in the market, up 38% in a month

Although selling pressure was seen across the market in recent weeks, some stocks have weathered the recent corrections and managed to bounce back, bringing some gains to investors’ portfolios. According to Trendline data, 14 of the Nifty 500 components have risen 10% to 38% in a month, with most of them getting a boost after reporting healthy Q2 results.

Serma SGS Technology led the pack with a gain of 38% as the stock soared from 407 Rs 559.40 during the said period. company, which Strong Q2 results reported in late OctoberIts share price saw a sharp rise, further boosted by increase in target prices by domestic brokerage firms.

The stock ended October with a 22% gain, its biggest monthly gain since May 2023. The rally continued in November with an additional 8% gain. Despite this stellar performance, the stock is still trading 21% below its all-time high 705.20.

Another stock that weathered the recent correction well is Deepak Fertilizers & Petrochemicals Corporation, which started its rally after reporting more than three-fold growth in Q2 profits. Rs 214 crore, driven by strong sales growth across its business segments.

After the results were announced on October 28, the stock rose 11% over the next 16 trading sessions, resulting in a 25% gain for the month. The strong performance has also led the stock to register new all-time highs 1,405 on November 7, which represents a gain of 152% in less than eight months.

Despite reporting a net loss in Q2FY25, ITI benefits from series of order wins, sending its shares up 22% in a monthThe company has recently won a contract Also received Rs 950 million from Directorate of Geology and Mining, Uttarakhand ₹15.37 billion contract for BharatNet broadband project in partnership with a consortium.

Meanwhile, Kirloskar Brothers delivered a strong performance in the quarter ending September 2024, reporting 90% year-on-year growth in net profit. This strong performance prompted domestic brokerage Axis Securities to raise its target price for the stock from 2,100 1,977 while maintaining ‘buy’ rating. Shares rose 17.8% in a month 2,187.

Other stocks including Aegis Logistics, Amber Enterprises India and Coforge also reacted positively to their Q2 results, rising 12.6% to 16% in a month.

Paytm shares rose more than 12%

Paytm shares have increased by 12.3% 814.3 each This followed a number of positive developments, including approval from the National Payments Corporation of India (NPCI) to resume accepting new UPI customers, which removed a major regulatory hurdle.

The progress also prompted brokerage firms to revise their target prices for the stock. Citi raised its rating to ‘buy’ from ‘sell’ and doubled the price target 900.

Company recorded net profit 928 crore, its first time since its listing in 2021. However, it was mainly driven by a Food delivery company Zomato made a profit of Rs 1,345 crore from the sale of its ticketing business.

Six other stocks – CRISIL, Piramal Pharma, Redington, BSE, City Union Bank and Rainbow Children Medicare – gained 10.3% to 12.1% in a month.

Disclaimer, The views and recommendations expressed in this article are those of the individual analysts. These do not represent the views of the Mint. We advise investors to check with certified experts before taking any investment decision.