 "These 16 stocks have more than doubled from their coronavirus sell-off lows")
Over a dozen companies in the Indian equity markets have seen their stock price more than double following an over 20 per cent recovery in benchmark indices from their March lows.
Private sector lender IndusInd Bank, fast moving consumer goods (FMCG) companies KRBL, Heritage Foods, and Parag Milk Foods and agrochemicals firm Insecticides India are among the 16 stocks that have rallied more than 100 per cent from their respective March 2020 lows. The list also includes four pharmaceutical stocks- Morepen Laboratories, Necter Lifesciences, Marksans Pharma and Unichem Laboratories.
The S&P BSE Sensex and the S&P BSE Allcap index have gained 23 per cent and 24 per cent, from their respective March 23, 2020 low levels.
Besides these stocks, a total of 250 stocks from the Allcap index have rallied between 50 per cent and 100 per cent from their previous month lows. The index accounts for 95 per cent of the total market capitialisation of the BSE-listed companies. Earlier, most of these stocks had declined by as much as half.
Pharmaceuticals sector is on the top of the gainer list, with as many as 22 stocks gaining more than 50 per cent. Chemicals sector followed the next with 21 stocks, capital goods (18), auto ancillaries (16), information technology (14), financials (13) and constructions and fertilizers (12 each).
Among individual stocks, Rallies India, Dhanuka Agritech, Insecticides India, UPL, Zuari Agro Chemicals, National Fertilizers and Rashtriya Chemicals & Fertilisers (RCF) from the agri-related stocks gained 60 per cent to 74 per cent on expectation of above-normal rainfall. The India Meteorological Department (IMD), the country’s weather department said on Wednesday that India is likely to have a normal monsoon this year.
The beaten-down financials, including banks, non-banking finance companies (NBFC), microfinance institutions (MFIs), like IndusInd Bank, Axis Bank, Shriram Transport Finance, Indiabulls Housing Finance, Cholamandalam Investment and Finance Company, Aavas Financiers and Ujjivan Financial Services, too, have seen smart recovery from their respective lows.
In continuation with its earlier announcements, the Reserve Bank of India (RBI) further unleashed a second round of measures on Friday, April 17, 2020 to boost the economy. The measures announced are primarily aimed at making available adequate liquidity in the system, facilitate bank credit flows, ease the financial stress and enable normal functioning of the financial markets. The RBI has also indicated more support would come as the situation unfolds.
IndusInd Bank ended 9 per cent higher at Rs 475 on Friday, rallying 102 per cent from its low of Rs 236, touched on March 23. Foreign portfolio investors (FPIs) bought more than one percentage point stake in the private sector lender thus far in the past two weeks.
On April 15, Goldman Sachs (Singapore) Pte-ODI bought 4.1 million shares, representing 0.65 per cent stake of IndusInd Bank, at an average price of Rs 430 per share. Earlier, on April 7, Singapore-based investment banking firm UBS Principal Capital Asia bought 5.38 million shares, or 0.85 per cent stake, in the private lender. As per bulk deal data available on the NSE, UBS acquired the bank's shares at Rs 367 per share. The name of the sellers not ascertained immediately.
Drug companies Cipla, Lupin, Aurobindo Pharma and Glenmark Pharma also soared between 63 per cent and 93 per cent on expectation of improvement in the pharma sector outlook. Most brokerages don't see a meaningful adverse impact of coronavirus (COVID-19) lockdown on the companies' earnings.
Private sector lender IndusInd Bank, fast moving consumer goods (FMCG) companies KRBL, Heritage Foods, and Parag Milk Foods and agrochemicals firm Insecticides India are among the 16 stocks that have rallied more than 100 per cent from their respective March 2020 lows. The list also includes four pharmaceutical stocks- Morepen Laboratories, Necter Lifesciences, Marksans Pharma and Unichem Laboratories.
The S&P BSE Sensex and the S&P BSE Allcap index have gained 23 per cent and 24 per cent, from their respective March 23, 2020 low levels.
Besides these stocks, a total of 250 stocks from the Allcap index have rallied between 50 per cent and 100 per cent from their previous month lows. The index accounts for 95 per cent of the total market capitialisation of the BSE-listed companies. Earlier, most of these stocks had declined by as much as half.
Pharmaceuticals sector is on the top of the gainer list, with as many as 22 stocks gaining more than 50 per cent. Chemicals sector followed the next with 21 stocks, capital goods (18), auto ancillaries (16), information technology (14), financials (13) and constructions and fertilizers (12 each).
Among individual stocks, Rallies India, Dhanuka Agritech, Insecticides India, UPL, Zuari Agro Chemicals, National Fertilizers and Rashtriya Chemicals & Fertilisers (RCF) from the agri-related stocks gained 60 per cent to 74 per cent on expectation of above-normal rainfall. The India Meteorological Department (IMD), the country’s weather department said on Wednesday that India is likely to have a normal monsoon this year.
The beaten-down financials, including banks, non-banking finance companies (NBFC), microfinance institutions (MFIs), like IndusInd Bank, Axis Bank, Shriram Transport Finance, Indiabulls Housing Finance, Cholamandalam Investment and Finance Company, Aavas Financiers and Ujjivan Financial Services, too, have seen smart recovery from their respective lows.
In continuation with its earlier announcements, the Reserve Bank of India (RBI) further unleashed a second round of measures on Friday, April 17, 2020 to boost the economy. The measures announced are primarily aimed at making available adequate liquidity in the system, facilitate bank credit flows, ease the financial stress and enable normal functioning of the financial markets. The RBI has also indicated more support would come as the situation unfolds.
IndusInd Bank ended 9 per cent higher at Rs 475 on Friday, rallying 102 per cent from its low of Rs 236, touched on March 23. Foreign portfolio investors (FPIs) bought more than one percentage point stake in the private sector lender thus far in the past two weeks.
On April 15, Goldman Sachs (Singapore) Pte-ODI bought 4.1 million shares, representing 0.65 per cent stake of IndusInd Bank, at an average price of Rs 430 per share. Earlier, on April 7, Singapore-based investment banking firm UBS Principal Capital Asia bought 5.38 million shares, or 0.85 per cent stake, in the private lender. As per bulk deal data available on the NSE, UBS acquired the bank's shares at Rs 367 per share. The name of the sellers not ascertained immediately.
Drug companies Cipla, Lupin, Aurobindo Pharma and Glenmark Pharma also soared between 63 per cent and 93 per cent on expectation of improvement in the pharma sector outlook. Most brokerages don't see a meaningful adverse impact of coronavirus (COVID-19) lockdown on the companies' earnings.
| Price in Rs | % | |||
| Company | 1-year high | 1-year low | Latest | Chg* |
| KRBL | 365.00 | 91.25 | 218.80 | 139.8 |
| Heritage Foods | 545.00 | 146.70 | 315.95 | 115.4 |
| ITI | 107.45 | 44.90 | 90.50 | 101.6 |
| IndusInd Bank | 1822.15 | 235.60 | 474.70 | 101.5 |
| Gujarat Alkalies | 595.80 | 165.00 | 327.70 | 98.6 |
| Venky's (India) | 2300.00 | 580.00 | 1142.20 | 96.9 |
| Unichem Labs. | 200.60 | 75.10 | 147.20 | 96.0 |
| Aurobindo Pharma | 838.00 | 281.15 | 542.70 | 93.0 |
| Intellect Design | 292.00 | 44.00 | 84.60 | 92.3 |
| Hikal | 187.15 | 57.00 | 109.55 | 92.2 |
| Graphite India | 479.85 | 103.00 | 197.00 | 91.3 |
| Firstsource Solutions | 57.85 | 20.65 | 39.25 | 90.1 |
| HEG | 2158.00 | 413.20 | 782.95 | 89.5 |
| Gabriel India | 153.90 | 40.25 | 75.95 | 88.7 |
| Glenmark Pharma. | 659.70 | 168.00 | 314.35 | 87.1 |
| Suzlon Energy | 7.89 | 1.65 | 3.06 | 85.5 |
| Caplin Point Lab | 466.00 | 180.00 | 333.35 | 85.2 |
| Wockhardt | 460.25 | 147.20 | 270.75 | 83.9 |
| CARE Ratings | 1019.00 | 236.45 | 434.90 | 83.9 |
| Shriram Transport | 1366.90 | 440.00 | 802.75 | 82.4 |
| Vaibhav Global | 1199.00 | 490.00 | 892.50 | 82.1 |
| Rail Vikas | 29.85 | 10.20 | 18.50 | 81.4 |
| Sobha | 587.95 | 117.90 | 213.40 | 81.0 |
| Motherson Sumi | 162.95 | 48.50 | 86.85 | 79.1 |
| Dishman Carbogen | 258.15 | 46.45 | 83.00 | 78.7 |
| *% change over 1-year low price touched in March 2020 | ||||
| Latest price on April 17, 2020 | ||||
| Stocks from S&P BSE Allcap index | ||||
| Companies having market-cap more than Rs 1,000 crore | ||||
| Source: CapitalinePlus | ||||
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