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On Monday, the Indian market started off on a negative note because of increased tension in the Middle East. An Iranian drone attack on Israel over the weekend heightened these tensions, impacting the sentiments and confidence of the investors. 

These tensions have made markets in Asia more volatile, with major indices falling in the morning trade as well as closing in the red including the Nifty 50 dropping by 1.1 percent to close at 22,272.5 points, Sensex closing 1.14 percent down and Nifty 500 closing 1.3 percent down. 

Given below are four fundamentally strong stocks that experienced a decline of more than 5 percent on Monday. 

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Gujarat Pipavav Port Limited (GPPL) 

The share price of GPPL in the trading session moved down by nearly 6.65 percent on BSE to Rs. 201.2 on April 15th, compared to its previous closing price of Rs. 215.55 and has a market cap of Rs. 9,854 crore. 

The stock fell by 5.64 percent and closed in the red at Rs. 203.4 on BSE. The company has delivered positive returns of about 58.6 percent in the past six months and nearly 87.5 percent returns in the last one year. So far, the company has given around 28.3 percent of positive returns in 2024. 

In terms of financials, the company’s revenue from operations grew by nearly 8.5 percent YoY from Rs. 249 crore in Q3 FY22-23 to Rs. 270 crore in Q3 FY23-24, accompanied by an increase in the net profit of 38.1 percent YoY, from Rs. 84 crore in Q3 FY22-23 to Rs. 116 crore in Q3 FY23-24. 

Gujarat Pipavav Port Limited (GPPL) is the first Private Port developed under the Public Private Partnership model of India. 

Castrol India Limited 

With a market cap of Rs. 20,855 crores, the share price of the company moved down by nearly 6 percent on BSE to Rs. 210.1 in the trading session of Monday, compared to its previous closing price of Rs. 223.4. 

The company has delivered positive returns of about 85.5 percent in the last one year and nearly 45.3 percent in the last six months. So far in 2024, it has given positive returns of around 10.6 percent. 

In terms of financials, the company’s revenue from operations climbed by nearly 7.5 percent YoY from Rs. 1,176 crore in Q3 FY22-23 to Rs. 1,264 crore in Q3 FY23-24.

The net profit of Castrol India is Rs. 242 crore in Q3 FY23-24, an increase of 25.4 percent YoY, from Rs. 193 crore in Q3 FY22-23. 

Castrol India Limited is principally engaged in the manufacturing and marketing of automotive and industrial lubricants and related services. 

KEC International 

The share price of this cable stock in the trading session of April 15th moved down by nearly 6.03 percent on BSE to Rs. 701.65, compared to its previous closing price of Rs. 746.7 and has a market cap of Rs. 18,111.8 crore. 

The stock fell by 5.65 percent and closed at Rs. 704.5 on BSE. The company has delivered positive returns of about 68.2 percent in the past six months and nearly 176 percent of multibagger returns in the last one year. So far, the company has given around 29.5 percent of positive returns in 2024. 

In terms of financials, the company’s revenue from operations grew by nearly 134.4 percent YoY from Rs. 4,375 crore in Q3 FY22-23 to Rs. 5,007 crore in Q3 FY23-24, accompanied by an increase in the net profit by 438.8 percent from Rs. 18 crore to Rs. 97 crore during the same period. 

As of December 2023, FIIs hold 10.9 percent of the shares, while DIIs hold 26.95 percent of the shares in the company, aggregating to 37.85 percent of the institutional holdings. 

KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major and the flagship company of the RPG Group. 

The company has a presence in the verticals of Power Transmission and Distribution, Railways, Civil, Urban Infrastructure, Solar, Oil & Gas Pipelines, and Cables. 

SJVN 

Share price of this Miniratna stock moved down by 6.91 percent on the BSE in the trading session of Monday, compared to its previous closing price of Rs. 130.8. 

With a market cap of Rs. 48,847.3 crore, the shares of SJVN Limited closed in the red at Rs. 124.3, down by nearly 5 percent. 

The company has delivered positive returns of about 64.1 percent in the last six months and nearly 273.3 percent of multibagger returns in the last one year. So far in 2024, it has given positive returns of around 34.02 percent. 

In terms of financials, the company’s revenue from operations grew by nearly 21.5 percent YoY from Rs. 2,417 crore in FY21-22 to Rs. 2,938 crore in FY22-23, accompanied by an increase in the net profit of 37.3 percent YoY, from Rs. 990 crore in FY21-22 to Rs. 1,359crore in FY22-23. 

As of March 2024, FIIs hold 2.36 percent of the shares, whereas DIIs hold 3.36 percent of the shares in the company, aggregating to 5.72 percent of the institutional holdings. 

Established in 1988 as a joint venture of the Government of India and the Government of Himachal Pradesh, SJVN Limited is under the control of the Ministry of Power and is a public sector undertaking (PSU). 

The company is engaged in the business of electricity generation along with providing consultancy for hydropower projects.

Written by Shivani Singh

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