Following a strong gain in the previous month, Indian benchmark indices extended their winning streak and got off to a strong start in December. The BSE Sensex index opened Thursday's trading session at 63,357, higher than the previous day's close, and rose further to hit an all-time high of 63,583. It finished the day with a 184.54-point gain, or 0.29 percent higher, at 63,284. With this, the index settled above the 63,000-level mark for the second day in a row.
Similarly, the Nifty50 opened strongly at 18,871 points, up 113 points from the previous close of 18,758, and surged to an all-time high of 18,887. The index eventually closed at 18,813, up 54 points, or 0.29 percent. For the last five weeks, the index has been trading above the 18,000 mark.
Meanwhile, ten stocks in the Nifty 500 index saw gains in the range of 25 to 85 percent in November.
With returns of over 85 percent, Rail Vikas Nigam, a railway infrastructure company, emerged as the top gainer in the Nifty 500 index. In November, the stock surged from around ₹40 to ₹74.10 levels, logging a nearly 85.25 percent rise in this period. The company gained traction after it bagged multiple orders in the last two months.
The stock began its upward rally on October 20, after it bagged an order worth ₹484 crore for the development of Kharicut Canal (between Naroda Smashan Gruh & Vinzol Vehla) in AMC area Package 2 and 3. Since then, it has gained nearly 102 percent.
Indian Railway Finance Corporation (IRFC) was another top gainer in the Nifty 500 index during November. The stock has climbed from ₹22.65 to ₹32.80 in the last month, generating a return of 44.81 percent.
In October, the IRFC signed an agreement with India Infrastructure Finance Company Ltd. (IIFCL) to finance railway infrastructure projects.
Union Bank of India was another big mover last month. From ₹53.90, the stock has risen gradually to ₹81.65, delivering a return of nearly 51.50 percent. Since the beginning of 2022, the stock has given 88.13 percent returns to date. At the current market price of ₹79.85, the stock is trading 138.36 percent above its 52-week low of ₹33.5.
Shares of Mazagon Dock Shipbuilders hit a new all-time high of ₹932.7 on December 1, 2022. Shares of the defence PSU company delivered astounding returns to its shareholders by moving from ₹636.35 to ₹908.75, a return of close to 42.80 percent, in November.
The stock began rising on February 24, the same day the Russia-Ukraine crisis erupted, and it has since gained 305 percent.
Mazagon Dock Shipbuilders is one of India's leading defence public-sector undertaking shipyards under the Ministry of Defence (MoD). The company is principally engaged in building and repairing ships, submarines, various types of vessels, and related engineering products for its customers.
Housing & Urban Development Corporation (HUDCO) was another top gainer in the Nifty 500 index last month. Beginning early November, the stock picked up steam after the India Rating and Research Private Limited (Ind-Ra) assigned HUDCO’s FY23 borrowing programme ‘IND AAA'/Stable' and affirmed existing ratings. Overall, the stock gained 46.83 percent in the previous month.
Shares of Easy Trip Planners soared from ₹48.38 to ₹62.80 in November, producing a return of almost 30 percent. The stock has been performing well on Dalal Street for quite some time now, owing to a sharp rebound in its tourism segment following the economy's unlocking.
Redington India's stock jumped 31.34 percent in November. The stock gained momentum at the beginning of last month after the company reported its best-ever earnings for the September quarter.
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