From Dhani Services to RBL Bank: These 7 stocks soared over 30% in August

Dhani Services: The stock soared 58 percent in August, becoming the best performing scrip in the index. However, it has lost 60 percent in 2022 YTD and 67 percent in the last 1 year. The firm is engaged in the business of providing technology-enabled subscription-based healthcare and transaction finance services, through its Dhani App. The Company provides its customers with healthcare access over video calls with doctors through its app. The rise in the stock was on the back of exceptional June quarter results. In Q1FY23, its net profit zoomed over 2,100 percent YoY to ₹11.70 crore from ₹0.58 crore in June 2021. Its net sales also jumped 152 percent YoY to ₹26 crore.

JSW Energy: The stock rallied 43 percent during the month. It also rose 13 percent in 2022 YTD and 35 percent in the last 1 year. JSW Energy is an integrated power company engaged in the business of generation and sale of power. The Company's segments include Power Trading, Equipment Manufacturing and Mining. In the June quarter, the firm reported a 179 percent rise in net profit to ₹560 crore in Q1, on the back of higher revenues. Profit after tax for the corresponding quarter of the previous fiscal stood at ₹201 crore. Total revenue climbed 68 percent YoY to ₹3,115 crore from ₹1,860 crore in the first quarter of FY22.

Mazagon Dock: The scrip advanced 41 percent in August and 40 percent in 2022 so far. It also surged 65 percent in the past 1 year. The firm is engaged in building and repairing of ships, submarines, vessels, and related engineering products in India and internationally. It operates in two segments, Shipbuilding and Submarine. In the June quarter, the company's consolidated net profit surged 121.24% to ₹224.78 crore on 83.68% increase in net sales to ₹2230.32 crore in Q1 June 2022 over Q1 June 2021. It is also is eyeing potential orders worth more than ₹1.59 trillion from the Indian Navy, including repeat orders for seven stealth guided-missile frigates and four landing platform docks.

Hikal: The stock jumped 36 percent during the month, however, it fell 47 percent in the last 1 year and 35 percent in 2022 YTD. The smallcap firm is engaged in the manufacturing of various chemical intermediates, specialty chemicals, active pharma, ingredients, and contract research activities. The Company’s operating segments include the crop protection and pharmaceuticals space. In the June quarter, the company's revenue fell 17 percent YoY to ₹379 crore from ₹457 crore in the year-ago period. It reported a net loss of ₹9 crore in Q1FY23 versus a profit of ₹50 crore in the same period last year.

Elgi Equipments: The stock added 35 percent in August. It gave multibagger returns in the last 1 year, up 156 percent, meanwhile, it jumped 67 percent in 2022 so far. Elgi is engaged in the manufacturing and trading of air compressors. The Company’s segment includes Air compressors and Automotive equipment. The firm posted a consolidated profit after tax (PAT) of ₹49 crore for the June quarter, compared to ₹12 crore in the year-ago quarter, on the back of strong topline growth. Its consolidated sales grew 42 percent YoY to ₹694 crore in Q1FY23 from ₹489 crore in Q1FY22.

RBL Bank: The lending stock rose 32 percent during the month. However, it has fallen 28 percent in the last 1 year and 4 percent in 2022 YTD. RBL Bank is a private sector bank incorporated in 1943. As of June 30, 2022, it operated a network of 502 bank branches; 1,302 business correspondent branches; and 417 ATMs. The company was formerly known as The Ratnakar Bank Limited and changed its name to RBL Bank Limited in August 2014. The private sector lender posted a ₹201 crore profit for the quarter ended June 30, 2022 against a net loss of ₹459 crore in the year-ago period. Net interest income (NII) climbed 6 percent to ₹1027.1 crore in Q1 against ₹969.5 crore in the corresponding period last fiscal. Net interest margin (NIM) stood at 4.36 percent. The rally in the stock was triggered after the bank's board cleared raising of up to ₹3,000 crore to fund its business growth. The fund raising will be subject to the approval of the shareholders, the bank said.

IDFC First Bank: The public sector lender gained 31 percent in August. It has risen 13 percent in the last 1 year and has been flat in 2022 so far. IDFC First Bank is an Indian Private Sector Bank that is owned by IDFC, an integrated infrastructure finance company. The bank started operations on 1 October 2015, after receiving a universal banking licence from the Reserve Bank of India in July 2015. For the quarter ended June 2022, the bank recorded its highest-ever standalone profit at ₹474.33 crore as against a net loss of ₹630 crore in the corresponding quarter a year ago. Net interest income grew by 26 percent to ₹2,751.1 crore YoY, with 39 bps YoY improvement in net interest margin at 5.89 percent.