Indian benchmark index BSE Sensex has fallen by 4.82% year-to-date (YTD) amid the ongoing weakness in the market due to heavy selling by foreign institutional investors and rising interest rates. The index was at 61167.79 points at the beginning of this year, however, it is currently at 58217.81 points.
The movement in the Sensex helps us get an idea of the overall movement in the Indian markets, by taking into account some of the largest companies. However, here are a few stocks from BSE 500 in that have managed to deliver double-digit returns to investors during the same period, and have outperformed the Sensex:
Finolex Cables Ltd
With a rally of 44.32%, Finolex Cables emerged as one of the top gainers. Its share price climbed to ₹ 796.00 apiece as compared to ₹ 551.55 at the beginning of this year.
Finolex Cables is India’s largest manufacturer of electrical and telecommunication cables with a vast distribution network. It has a market capitalization of ₹ 11,924 crores and is a small-cap company.
The company’s revenue increased by 18.23% from ₹ 972.95 crores in the December quarter of 2021 to ₹ 1150.31 crores in the December quarter of 2022. Its profit increased from ₹ 90.6 crores to ₹ 132.98 crores during the same period, up 46.77%.
Sonata Software Ltd
Second on the list is Sonata Software, whose share price zoomed 42.19% YTD. Its shares were trading at ₹ 579.95 at the beginning of this year and are currently at ₹ 824.65 apiece.
Sonata Software primarily provides IT Services and Solutions to various customers in India, the United States of America, Europe, the Middle East and Australia. It has a market capitalization of ₹ 11,122 crores and is a small-cap company.
The company’s revenue increased by 21.67% from ₹ 1,858.02 crores in the December quarter of 2021 to ₹ 2,260.78 crores in the December quarter of 2022. Its profit increased from ₹ 97.67 crores to ₹ 112.71 crores during the same period, up 15.39%.
KPIT Technologies Ltd
Shares of KPIT Technologies gained 27.51% YTD as its share price increased from ₹ 696.75 at the beginning of this year to ₹ 888.40 apiece currently.
KPIT Technologies provides software solutions to help mobility leapfrog towards an autonomous, clean, smart and connected future. It is specialized in AI & digital solutions. It has a market capitalization of ₹ 23703 crores and is a mid-cap company.
The company’s revenue increased by 47.35% from ₹ 622.37 crores in the December quarter of 2021 to ₹ 917.12 crores in the December quarter of 2022. Its profit increased from ₹ 70.65 crores to ₹ 103.98 crores during the same period, up 15.39%.
ITC Ltd
It is one of the top gainers among blue chip stocks that outperformed the market this year. Its share price increased from ₹ 332.85 at the beginning of this year to the current price of ₹ 377.60, indicating an increase of 13.44%.
ITC is the largest cigarette manufacturer and seller in India. At present, it operates in five business segments — FMCG cigarettes, FMCG others, hotels, paper and packaging and agribusiness. It has a market capitalization of ₹ 4,68,474 crores and is a large-cap company.
The company’s revenue increased by 3.56% from ₹ 18,365.8 crores in the December quarter of 2021 to ₹ 19,020.65 crores in the December quarter of 2022. Its profit increased from ₹ 4,118.8 crores to ₹ 5,070.09 crores during the same period, up 23.10%.
Written by Simran Bafna
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