Top 5 Gainers and Losers from Nifty 500 in April

The domestic market experienced significant price action on April 30th, resulting in a downturn for the bulls. The NSE benchmark, Nifty 50, hit a new all-time high earlier in the week, but later plummeted by 200 points from the day’s high. Despite the sharp decline, the index managed to post gains of about 1.2% for the month of April. However, the candlestick pattern on the monthly chart indicates indecisiveness.

Nifty 500 Outperforms Nifty 50

Similarly, the broader Nifty 500 index reached a fresh high on the same day but ended the session flat, losing most of its gains. Despite this, the Nifty 500 outperformed the Nifty 50 for the month, achieving a 3% increase. This article highlights the top five best-performing stocks from the Nifty 500 in April 2024.

Top 5 Gainers from Nifty 500

Here are the top five best-performing stocks from the Nifty 500 in April 2024, along with their respective percentage gains:

Tejas Networks

Tejas Networks marked a record high on Tuesday, with the stock rising 74.12% in April. The surge followed impressive quarterly earnings, with the company’s consolidated net profit for Q4FY24 reaching Rs 146.8 crore, a significant turnaround from a loss of Rs 11.47 crore in Q4FY23. Revenue also increased multifold, with a positive EBITDA of Rs 306 crore for Q4FY24, compared to an EBITDA loss of Rs 8.2 crore in Q4FY23.

Exide Industries

Exide Industries gained over 55% in April, driven by positive developments like a recommended dividend of Rs 2 per equity share. Additionally, the company’s wholly owned subsidiary, Exide Energy Solutions (ESSL), signed a Memorandum of Understanding (MOU) with Hyundai Motor Company and Kia Corporation to collaborate on India’s EV market. The partnership involves developing, producing, and supplying battery cells for Hyundai’s electric vehicles.

Aegis Logistics

Aegis Logistics, formerly Aegis Chemical Industries, saw a 53.85% gain in April. The company provides logistics solutions for oil, gas, chemicals, and petrochemicals. Its liquid division recorded its highest-ever revenues and EBITDA in 9MFY24, while its gas division achieved record logistic volumes and EBITDA during the same period.

Cochin Shipyard

Cochin Shipyard’s stock surged by nearly 50% in April, driven by major defense projects like the INS Vikrant (an Indigenous Aircraft carrier) and the construction of ASW SWC for the Indian Navy, valued at approximately Rs 6,300 crore. These projects contributed significantly to the company’s revenue from both shipbuilding and ship repair.

Vedanta

Vedanta achieved a 46.81% increase in April, thanks to improved performance in aluminum, power, and zinc. The company logged a 4% sequential rise in EBITDA during the March quarter, further fueled by rising commodity prices.

Top 5 Losers from Nifty 500 

Here are the top five worst-performing stocks from the Nifty 500 in April 2024, along with their respective percentage losses:

Sun Pharma Advanced Research Company (SPARC)

Sun Pharma Advanced Research Company (SPARC) has experienced a substantial decline, with the stock falling nearly 37% in April. This dramatic drop followed the release of results from the interim analysis of the PROSEEK study of Vodobatinib, a treatment for patients with early Parkinson’s disease. Vodobatinib is one of SPARC’s key assets in its neurological program, which is also under study for Lewy Body Dementia and Alzheimer’s disease.

Gujarat State Petronet (GSPL)

Gujarat State Petronet (GSPL) has the second-worst performance on the Nifty 500, with a loss of nearly 17% in April. The stock plummeted after the Petroleum and Natural Gas Regulatory Board (PNGRB) reduced tariffs for the company’s high-pressure network by 47%.

Persistent Systems

The stock price of Persistent Systems, a mid-tier IT services company, fell by 15.55% in April. Although the company maintained its margin guidance of 200–300 basis points expansion over the next three years, it guided for flat margins in FY25 due to planned investments and deal ramp-ups. This outlook led to a decline in stock price.

L&T Technology Services (LTTS)

L&T Technology Services (LTTS) experienced a decline of 15.45% in April. Despite robust earnings, the market was disappointed by lower earnings visibility due to a revised FY25 guidance, resulting in pressure on the stock.

CRISIL

CRISIL’s stock declined by 14.06% in April, with the most significant drops occurring after April 15. The stock reached a low of Rs 4,130.05 on April 25 but has seen some recovery since then. The stock’s ongoing decline contributed to its placement among the top five worst-performing stocks from the Nifty 500 in April 2024.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.