The Indian benchmark indices rallied in the month of November after the bulls took charge. On the last day of the month, Nifty topped the 18,800 level, hitting a new record high of 18,816.05. While the BSE Sensex surged over 500 points to surpass the 63,300 level.
The indices continue to rise on the first day of December. BSE Sensex scaled to a record high for the sixth consecutive session, crossing the 63,500 level. NSE Nifty also touched a fresh high above 18,850 at 18,874
With the markets making new highs, here are 4 stocks that gained the most in November:
Rail Vikas Nigam Limited
The shares of the railway company started the month at Rs 40.20 levels. By the end of the month, the stock rallied by approximately 84 percent to end at Rs 74. On Thursday the stock continued to increase and was trading at Rs 75 levels.
One of the major reasons for the stock movement has been the multiple projects that were bagged by the company in the month.
Rail Vikas Nigam Ltd is engaged in the business of implementing various types of Rail infrastructure projects including doubling, gauge conversion, new lines, railway electrification, major bridges, workshops, Production Units, and sharing freight revenue with Railways.
Honda India Power Products Ltd
The shares of the company started the month at Rs 1,707 levels. By the end of the month, the stock rallied by approximately 58 per cent to end at Rs 2,669. On Thursday the stock continued to increase and was trading at Rs 2,689 levels.
The stock rallied after it reported robust Q2 results. Its revenue from operations grew by 70.5 per cent Year-on-Year (YoY) at Rs 394 crore while its net profit jumped 167 per cent YoY at Rs 42.42 crore.
Honda India Power Products Ltd is a leader in the Power Products industry that is engaged in the Manufacturing and Marketing of Portable Generators, Water Pumps, Tillers & General Purpose Engines in India and abroad.
Union Bank of India Ltd
The shares of the Bank rallied by more than 55 percent in November as the shares ended at Rs 81.65 on the last day of the month as against Rs 52.60 on the first day. On Thursday, the shares declined marginally and were trading at Rs 80 levels.
Strong Q2 results along with the raising of Rs 2,200 crore in capital through tier II bonds to strengthen the business drove the stocks higher.
UCO Bank is an Indian public sector bank that is engaged in providing a wide range of banking and financial services including Retail Banking, Corporate Banking, and Treasury Operations.
Housing and Urban Development Corporation Limited
The shares have rallied from Rs 36.55 a piece at the beginning of November up to Rs 53.30 on the last day, logging a return of 46 percent. On Thursday however, the stocks were trading in red at Rs 53 levels.
The company got an upgrade in its credit rating from multiple credit rating agencies including Moody’s Investors Service, Singapore which upgraded its rating to the ‘Baa3’ level which is considered stable.
The Housing and Urban Development Corporation Limited (HUDCO) is a public-sector undertaking that provides financial assistance to the public-sector enterprise, in the field of housing and infrastructure development.
Written by Anoushka Roy
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