The Indian stock market experienced significant volatility in the days leading up to and following the 2024 Lok Sabha election results.
As the vote counting proceeded on June 4th, the market initially took a sharp downturn, with the Sensex and Nifty indices falling sharply and witnessing intense selling pressure.
However, as the final results emerged and the NDA-led government, headed by Prime Minister Narendra Modi, secured a third term in power, the market began to recover.
Public Sector Undertakings (PSUs), which are government-owned entities with at least 51 percent stake held by the central or state governments, have been among the biggest beneficiaries of the post-election rally.
Following are a few top-performing PSU stocks that have delivered impressive returns in the last 1 month after the election results:
Mazagon Dock Shipbuilders Limited
In Friday’s trading session, the shares of India’s premier Warship and Submarine builders surged by 4.6 percent on BSE to hit a new 52-week high at Rs. 5,859.95, as compared to its previous closing price of Rs. 5,600.8.
With a market capitalisation of Rs. 1.14 lakh crore, this defence PSU stock has delivered around 102.3 percent of multibagger returns in one month after the election results.
The stock has given multibagger returns of nearly 334.5 percent in the last one year, and about 147.8 percent of returns year-to-date.
In Q4 FY23-24, the company generated Rs. 3,103.6 crore in operating revenue, a 49.3 percent increase from the Rs. 2,078.6 crore recorded in Q4 FY22-23. The net profit also grew by 111.2 percent reaching Rs. 626.8 crore, up from Rs. 296.8 crore in the same period of the previous fiscal year.
Mazagon Dock Shipbuilders Limited provides a wide range of services including shipbuilding, ship repairs and ship refits to both government and private institutions. It is a key supplier of warships, missile boats and submarines to the Indian Navy and Indian Coast Guard.
Cochin Shipyard Limited
In Friday’s trading session, the shares of one of the leading shipbuilding & repair yards in India, surged by nearly 9 percent on BSE to hit a new 52-week high at Rs. 2,923.95, as compared to its previous closing price of Rs.
2,684.2.
With a market capitalisation of Rs. 74,592.6 crore, the stock has delivered around 68.3 percent of positive returns in one month after the election results.
The stock has given multibagger returns of nearly 909.2 percent in the last one year, and about 316 percent of returns year-to-date.
In Q4 FY23-24, the company generated Rs. 1,286.05 crore in operating revenue, a 114.3 percent increase from the Rs. 600 crore recorded in Q4 FY22-23. The net profit also grew by 557.8 percent reaching Rs. 258.8 crore, up from Rs. 39.34 crore in the same period of the previous fiscal year.
Cochin Shipyard Limited is engaged in the business activities of Shipbuilding and Ship repair, operating in two segments: Shipbuilding and Repair of Ships/Offshore Structures.
NBCC (India) Limited
In Friday’s trading session, the shares of a blue-chip Government of India Navratna Enterprise under the Ministry of Housing and Urban Affairs surged by 4 percent on BSE to hit a new 52-week high at Rs. 194, as compared to its previous closing price of Rs. 186.55.
With a market capitalisation of Rs. 33,921 crore, the stock has delivered around 44.8 percent of positive returns in one month after the election results.
The stock has given multibagger returns of nearly 365 percent in the last one year, and about 130.4 percent of returns year-to-date.
In Q4 FY23-24, the company generated Rs. 3,937 crore in operating revenue, a 44 percent increase from the Rs. 2,732.4 crore recorded in Q4 FY22-23. The net profit also grew by 24.5 percent reaching Rs. 141.5 crore, up from Rs. 113.6 crore in the same period of the previous fiscal year.
Established in 1960, NBCC (India) Limited is a Navratna CPSE (Central Public Sector Enterprises) of the Government of India and is classified into three verticals: Project Management Consultancy (PMC), Engineering Procurement and Construction (EPC) and Real Estate.
Housing and Urban Development Corporation Limited
In Friday’s trading session, the shares of HUDCO surged by 4.5 percent on BSE to hit a new 52-week high at Rs. 339.5, as compared to its previous closing price of Rs. 324.95.
With a market capitalisation of Rs. 65,702.4 crore, the stock has delivered around 41 percent of positive returns in one month after the election results.
The stock has given multibagger returns of nearly 456.3 percent in the last one year, and about 154 percent of returns year-to-date.
In Q4 FY23-24, the company generated Rs. 2,065.2 crore in total income, an 11.5 percent increase from the Rs. 1,852.4 crore recorded in Q4 FY22-23. The net profit also grew by 9.5 percent reaching Rs. 700.2 crore, up from Rs. 639.2 crore in the same period of the previous fiscal year.
HUDCO is a housing finance company under the Ministry of Housing and Urban Affairs (MoHUA) and is engaged in the business of financing housing and urban development activities in India.
Written by Shivani Singh
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