The Indian equity markets ended the month of August strongly. On the last trading day of August, Indian markets rallied by close to 3 percent, as a result of the drop in crude oil prices and a sharp drop in the dollar index.
The Sensex opened 287 points higher at 58,259.85, reaching an intraday high of 59,599.78 and a low of 58,245.49 in Tuesday's trade. It then closed nearly 2.69% higher at 59,537.07 points. The Nifty closed at 17,759.30, up 446 points, or 2.58%. In August, the BSE Small cap index rose 6.35 percent, while the BSE Midcap index rose 5.97 percent.
The Nifty continued its rally since July and gained 3.50% in August, from 17,158.10 to 17,759.30 points. Furthermore, it has risen 16.96 percent since its June 15 low of 15,183. In the same time frame, the Sensex has gained 3.42%.
Meanwhile, three stocks in the Nifty500 Index gained more than 40% in August. Seven stocks returned between 25% to 40%. On the other hand, 6 stocks have dropped between 10 -18 percent in the last month, while 4 have dropped between 7 and 10%.
Dhani Services was the top gainer in the Nifty500 Index last month, gaining more than 50 percent. The stock hit a 52-week high on October 21, 2021, similar to the same time when the Nifty reached its all-time high of 18,477.05 points. But since then, the stock started moving down and it continued the same trend till February this year. The stock lost nearly 40% of its value in February alone, and it has corrected by 70% from its 52-week high.
However, the stock has seen buying momentum since the beginning of August, rising nearly 58.23% to date, from ₹41.30 to ₹65.35.
JSW Energy was the second top gainer in the Nifty500 Index. In the last month, the stock has risen from ₹238.75 to ₹341.05, representing a 42.84 percent gain. The stock is currently trading 89.84 percent higher than its 52-week low of ₹182.
The rally in the stock started in mid-June and, from that point, the stock saw a one-way rally and has given a 74.94 percent return to its shareholders.
|Scrip Name||% Monthly Returns|
|Mazagon Dock Shipbuilders||40.71|
|IDFC First Bank||30.88|
Shares of Mazagon Dock Shipbuilders hit a new 52-week high of ₹408 on the NSE on August 30. The stock rose for three consecutive trading sessions. During this period, the stock is up by nearly 25%. It is currently trading 77.22% higher than its 52-week low of Rs. 225.4. In the last month, the stock price increased from ₹278.30 to ₹391.60, representing a 40.71 percent return on the strong business outlook.
The stock gained the most after the company reported a 133.33 percent increase in its YoY net profit to ₹217 crore for the June-ending quarter, up from ₹93 crore in the previous year.
EBITDA increased by 96 percent year on year to ₹310 crore, up from ₹158 crore in the same quarter last year. Operating profit zoomed by 201 percent year on year to ₹154 crore from ₹51 crore.
Mazagon Dock Shipbuilders Ltd. is engaged in building and repairing ships, submarines, various types of vessels, and related engineering products. The company is owned by the government of India, its website shows.
Shares of IDFC First Bank have risen 1.56% daily on average in the last one month. The stock price has increased by 30.88 percent in August, from ₹37.55 to ₹49.15. The rally in the stock came after the bank reported its highest-ever net profit of ₹474 crore for the quarter ended June 2022.
From December 2021 to June 2022, the stock lost almost 44% of its value. However, the stock began to rise in mid-June and has since returned 68.61 percent.
Over the last three years, the stock gave a bare 12.86% return as compared to the Nifty Midcap 100, which gave a return of 62.37%.
The stock touched a 52-week-high of ₹53.5 on October 27th, 2021 and a 52-week-low of ₹29 on June 22, 2022, indicating that at the current level, the stock is trading 69.43 percent higher than its 52-week low and it is just 8.15% away from its 52-week-high.
The other private sector lender, RBL Bank, has gained 32.57% in the last month, which is 27.43% higher than the Bank Nifty, which has gained 5.14 percent in the same period. The stock gained the majority of its value in the last week of August, following the board's approval of a ₹3,000 crore capital raise.
For the June ending quarter, the bank reported a better-than-expected net profit of ₹201.2 crore, as against a net loss of ₹459.5 crore in the year-ago quarter. The company's net profit has been consistently increasing in recent quarters. It reported a net profit of ₹30.8 crore in the September 2021 quarter and ₹156.1 crore in the December 2021 quarter.
In the January-March period, the net interest margin, a key measure of profitability for lenders, hit an all-time high of 5.04 percent.
The Brightcom group was the top loser in the Nifty500 Index. After rallying 65.2 percent in July, the stock lost 17.6 percent in August. Despite a 163 percent increase in net profit to ₹277 crore, the stock has lost the majority of its value in the last week. In the last six months, the stock lost about 42.82% of its value. Even at current levels, the stock is trading 66.84% below its 52-week high of ₹122.9, set on Dec 24, 2021.
Inox Leisure was the second top loser in the Nifty 500 Index. Shares of Inox Leisure have dropped more than 14.41% in the last one month.
|Scrip Name||% Monthly returns|
|Gujarat Ambuja Exports||-8.5|
Balakrishna Industries fell 12% in the last month after the company reported disappointing margin performance for the June quarter due to higher raw material prices. In Q1FY23, the company’s reported standalone earnings before interest, taxes, depreciation, and amortization (Ebitda) margins were down 550 basis points (bps) quarter-on-quarter (QoQ) and 910 bps year-on-year (YoY) to 20.1 percent.
Jubilant Ingrevia shares declined 11.5 percent in August. The stock has dropped 43.99% from its 52-week high of Rs. 838.8 and with Tuesday's closing price of Rs. 471, the stock is just 17.20% away from its 52-week low of Rs. 401.20.
Coforge dropped 10% in August. The stock's 52-week high and low levels were Rs. 3,218 apiece and Rs. 6,135 apiece, respectively. If today's price is taken into consideration, the stock has so far fallen 42.90% from its 52-week high.
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