Headline gauges declined marginally on Monday, tracking weak global cues. The Sensex was quoting at 57,168.01 points, down 258.91 points (0.45%), while the Nifty 50 was trading at 17,025.65 points, down 68.70 (0.40%).
Here are a few stocks that gained more than 5% while the markets are in the red:
1) Cochin Shipyard Ltd
The shares of this defence company rose10.88% to reach an intraday high of ₹ 489.00 apiece, to become the top gainer in the Nifty 500 stocks so far.
The share price of the stock is on the rise and has gained 56.05% in the last three months, on the back of a strong order book, technological advancements and requirements according to the geopolitical environment and export orders.
2) Rail Vikas Nigam Ltd
The company comes under the aegis of the Railway Ministry and its shares gained 8.16% to reach an intraday high of ₹ 36.45 on the National Stock Exchange (NSE). The company had bagged a contract for the construction of a 4-lane highway in Andhra Pradesh from the National Highways Authority of India (NHAI).
The contract is a part of Kakinada port to NH – 16 connectivity in Andhra Pradesh under Bharatmala Pariyojana in EPC (engineering, procurement and construction) mode at a cost of Rs 408 crore.
3) Triveni Turbine Ltd
The small-cap stock jumped 11.73% to reach an intraday high of ₹ 262.45. Brokerage firm Anand Rathi believes that the outlook for product order booking in the near term is strong, on the back of its healthy enquiry pipeline. It has a buy rating on the stock with a target price of ₹ 285 per share.
4) Nykaa
The share price of the beauty, personal care and fashion products company surged 11.15% to reach an intraday high of ₹ 1414.00 apiece on the NSE. This happened after the company’s board declared a 1:5 bonus issue.
5) Rites Ltd
The transport infrastructure consultancy and engineering company’s share price increased by 9.95% to reach an intraday high of ₹ 358.95 apiece on the bourses. Its stock has been on an upward trend for the last few days and has rallied over 14% in the last five trading sessions.
Growth momentum due to the thrust on fast-paced electrification/doubling of railway lines, road construction, and investment in urban mobility seems to be driving the stock northward.
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.