Indices opened with decent gains on Tuesday. However, they are expected to remain under pressure due to persistent rate hike worries among traders. This happened after Fed Chief Jerome Powell indicated on Friday that the Central Bank will raise interest rates in order to curb inflation.
The BSE Sensex is quoting at 59537.07 points, as it gained 2.45% or 1421.57 points in the past month. Similarly, the NSE Nifty 50 settled at 17759.30 points, up 2.42% or 419.25 points.
Here is a list of three stocks that have gained more than 50% this month:
New Delhi Television Limited
The shares of New Delhi Television Limited (NDTV) have gained 77.62% in the past month as their share price increased from ₹ 265.45 apiece to ₹ 471.50 apiece. This gain was led by the news of a hostile takeover by the Adani group. Currently, the Adani Group and NDTV’s promoter RRPR Holdings have approached the Securities and Exchange Board of India, seeking clarity on the applicability of the regulator’s earlier order regarding the conversion of warrants into shares, which will be a decisive factor in the takeover battle for the group.
If an investor would have invested ₹ 1,00,000 in the shares of the company a month ago, the value of their holdings would have been ₹ 1,77,620 today!
Gensol Engineering
The shares of Gensol Engineering have gained a whopping 90.85% in the past month as its share price increased from ₹ 985.85 to ₹ 1881.50. The company is engaged in the manufacturing business of solar consulting and operates a fleet of electric cabs. Its share price started escalating after it kicked off its plans to start manufacturing electric vehicles. The company intends to manufacture electric cars that will have a range of 100-200 km and a speed of 80 kmph, priced at ₹ 5 to ₹ 6 lakhs.
If an investor would have invested ₹ 1,00,000 in the company’s shares a month ago, the value of their holdings would have been ₹ 1,90,850 today!
Tinna Rubber & Infrastructure Ltd
The company is engaged in the conversion of end-of-life tyres into crumb rubber and steel wires. The company’s share price increased after ace investor Dolly Khanna increased her stake in it. She holds 156,861 shares of the company that are worth about 10.8 crores.
The shares have given 87.79% returns in the past month as their share price increased from ₹ 368.10 to ₹ 691.25. If an investor would have invested ₹ 1,00,000 in the shares of the company a month ago, the value of their holdings would have been ₹ 1,87,790 today!
Written by Simran Bafna
Disclaimer
The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
