In June 2024, the Indian stock market saw tremendous volatility, owing mostly to the results of the general elections. The ruling NDA’s triumph with a slimmer than expected majority frightened markets, causing key indexes to fall sharply. The Nifty fell by 5.93 percent and the Sensex by 5.74 percent, marking its worst performance since early 2020.
The Nifty 50 Index has delivered a massive return of 4.90 percent, and the Sensex has delivered a return of 5.14 percent in one month. Listed below are some of the top-performing stocks for the month of June 2024, that have delivered good returns despite the volatility in the market.
Blue Cloud Softech Solutions
Blue Cloud Softech Solutions Limited is engaged in the designing, developing computer software and providing data processing services of all kinds including computer consultancy service, system analysis, programming, and computer maintenance.
With a market capitalization of Rs. 4,925 Crores, the shares of Blue Cloud Softech Solutions Limited hit a 5 percent upper circuit in the day’s trade at Rs. 225.80, from its previous day’s close price of Rs. 215.06. It has delivered a multibagger return of 181 percent in 1 month.
Its revenue from operations grew by 27 percent QoQ from Rs. 167.73 Crores in Q3FY24 to Rs. 213.09 Crores in Q4FY24, accompanied by profits of Rs. 4.07 Crores to Rs. 8.58 Crores.
Moschip Technologies
Moschip Technologies Limited is a semiconductor and system design company. It specializes in product design and development services ranging from chip design to Software and Systems Development.
With a market capitalization of Rs. 5,182 Crores, the shares of Moschip Technologies Limited were trading at Rs. 274.85 per equity share, down 0.52 percent from its previous day’s close price of Rs. 276.30. It has delivered a return of 109 percent in 1 month
Its revenue from operations grew by 48.17 percent from Rs. 198 Crores in FY23 to Rs. 294 Crores in FY24, accompanied by profits of Rs. 6 Crores to Rs. 10 Crores.
Trident Techlabs
Trident Techlabs Limited provides technology-based solutions to the aerospace, defence, automotive, telecommunications, semiconductor, and power distribution industries. It has 2 business verticals i.e., engineering solutions and power system solutions.
With a market capitalization of Rs. 1,365 Crores, the shares of Trident Techlabs Limited were trading at Rs. 790.20 per equity share in the day’s trade from its previous day’s close price of Rs. 810.25. It has delivered a return of 109 percent in 1 month
Its revenue from operations grew by 7.82 percent from Rs. 67.35 Crores in FY23 to Rs. 72.62 Crores in FY24, accompanied by profits of Rs. 5.55 Crores to Rs. 9.37 Crores.
Kody Technolab
Kody Technolab Limited is engaged in the business of software development services to a diverse set of industries. It offers a wide range of services like custom software development, artificial intelligence implementation and consultation, and many more.
Kody Technolab Limited has recently ventured into the robotics space with its products such as India’s premier surveillance robot Athena, and its custom service robot Dasher.
With a market capitalization of Rs.1,976 Crores, the shares of Kody Technolab Limited hit a 5 percent lower circuit at Rs. 3,101.05 per equity share, from its previous day’s close price of Rs. 3,101.05. It has delivered a return of 87 percent in 1 month
Its revenue from operations grew by 105 percent from Rs. 10.95 Crores in FY23 to Rs. 22.46 Crores in FY24, accompanied by profits of Rs. 3.18 Crores to Rs. 4.89 Crores.
PTC Industries
PTC Industries Limited is engaged in the business of manufacturing and selling of high precision metal castings. Its manufactures products for various critical applications for a range of industries, including aerospace, defense, oil and gas, liquefied natural gas (LNG), ships and marine, pulp and paper machinery and mining and earth moving machinery.
With a market capitalization of Rs. 20,020 Crores, the shares of PTC Industries Limited closed at Rs. 13,890.30 per equity share, up 1.71 percent from its previous day’s close price of Rs. 13,656.55. It has delivered a return of 72 percent in 1 month
Its revenue from operations grew by 17.16 percent from Rs. 219 Crores in FY23 to Rs. 257 Crores in FY24, accompanied by profits of Rs. 26 Crores to Rs. 46 Crores.
Written by: Bharath K.S
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