Top ten Nifty mid-cap gainers and losers of April; do you own any?
- April got off to a good start and showed no signs of fading. The benchmark Nifty 50 index increased by 705.20 points, gaining 4.06% in April, while the Sensex increased by 2,120 points, gaining 3.60% for the whole month.
Indian markets were largely flat in March, but April got off to a good start and showed no signs of fading. The benchmark Nifty 50 index increased by 705.20 points, gaining 4.06% in April, while the Sensex increased by 2,120 points, gaining 3.60% for the whole month.
In March, Indian markets experienced tremendous volatility with investor sentiment fluctuating. For the first three weeks of the month, the benchmark indices, Nifty 50 and S&P BSE Sensex, posted losses, continuing a three-month downward trend. However, the markets did recover in the final week of March, with gains of 2.45% and 2.55% for each index.
Amid this bull run, 10 Nifty mid-cap stock rewarded investors with handsome gains. These stocks returned between 10-28% during April.
Nifty 100 Midcap Index - 10 gainers of April
Godrej Properties Ltd led the Nifty 100 Midcap Index with a rally of 27.6%. In April, the stock rallied from ₹1,031.05 to ₹1,315.25. According to a statement from Godrej Properties, the company recorded its highest-ever sales bookings for both the entire fiscal year 2022–2023 and the fourth quarter. The company recorded sales bookings of ₹4,051 crore in the fourth quarter. In 2021–22, it has sales bookings of ₹7,861 crore.
Prestige Estates Projects Ltd came in second on the list with gains of 21.7% for April. The stock recovered from ₹403.20 to ₹490.70. According to the company's exchange filing, the group recorded record-breaking highest sales during the fiscal year FY23 of ₹12,930.9 crore (up by 25% year over year) and highest ever collections of ₹9,805.5 crore (up by 31% y-o-y).
The third on the list was railway stock, Indian Railway Finance Corporation Ltd (IRFC) that gained 19.4% in April. Most of the railway stocks during the month of April gave exceptional returns on the backdrop of order wins and strong order book. IRFC rallied from ₹26.60 to ₹31.75.
Similarly, Aurobindo Pharma Ltd gained about 19% in April. The stock rebounded from ₹518.10 to ₹617.
| Scrip Name | March 31, 2023 (Rs) | April 28, 2023 (Rs) | % |
| Godrej Properties Ltd | 1031.05 | 1315.25 | 27.6 |
| Prestige Estates Project Ltd | 403.2 | 490.7 | 21.7 |
| Indian Railway Finance Corporation Ltd (IRFC) | 26.6 | 31.75 | 19.4 |
| Aurobindo Pharma Ltd | 518.1 | 617 | 19 |
| Adani Power Ltd | 191.6 | 224.85 | 17.4 |
| Bandhan Bank Ltd | 195.75 | 229.3 | 17.1 |
| Sona BLW Precision Forging Ltd | 413.5 | 480 | 16 |
| Union Bank of India Ltd | 66.55 | 75.85 | 14 |
| Trident Ltd | 27.95 | 31.10 | 11.3 |
| Tata Teleservices (Maharashtra) Ltd | 55.45 | 61.25 | 10.5 |
Adani Power Ltd came in fifth on the list with gains of 17.4% for April. The stock recovered from ₹191.60 to ₹224.85. The company entered into a long-term power supply agreement (PSA) with MPSEZ Utilities Ltd during the month for a 15-year supply of 360 MW capacity from its 4,620 MW power plant in Mundra, Gujarat.
Bandhan Bank Ltd gained 17.1% in April. The stock has rallied from ₹195.75 to ₹229.30. According to the private lender, the bank's total deposits in the fourth quarter of the previous fiscal year was ₹1,08,069 crore, an increase of 12.2% over the same period the previous year.
As per an exchange filing, loans and advances totaled ₹1,09,112 crore during the quarter that concluded on March 31. This is a 9.8% growth over the same period last year.
Auto ancillary stock, Sona BLW Precision Forging Ltd gained 16% in April. The stock recovered from ₹413.5 to ₹480. With an investment of ₹231 crore, the auto parts manufacturer opened its second-largest manufacturing facility in Chakan, Pune, during the month.
During the month, state-owned bank, Union Bank of India Ltd gained 14% in April. The stock rose from ₹66.55 to ₹75.85.
According to a filing with the exchange, the bank's board recently in the last week of April approved raising up to ₹10,100 crore using a combination of equity and debt.
Trident Ltd and Tata Teleservices (Maharashtra) Ltd gained 11.3% and 10.5%, respectively. Trident share prices rose from ₹27.95 to ₹31.10 in April, while Tata Teleservices (Maharashtra) share price jumped from ₹55.45 to ₹61.25 during the month.
Nifty 100 Midcap Index - 10 laggards of April
On the other hand, ten companies saw losses ranging from 2% to 13% in the same month, with Crompton Greaves Consumer Ltd ranking among the worst performers with a 13% loss in value. The company's share price fell from ₹293 to ₹254.9.
After Crompton Greaves announced management changes earlier in the month, the company's stock prices declined. According to the company's exchange filing, Promeet Ghosh, an ex-Temasek India Deputy Head, has been named as the managing director & CEO and Shantanu Khosla has been promoted to Executive Vice-Chairman.
Mathew Job, the company's CEO and executive director, resigned to pursue other professional interests.
Ipca Laboratories Ltd lost 12.4% of its value in April. The share prices of the company slipped to ₹710.15 from ₹810.35. Following the company's decision to pay up to 10.34 billion rupees for a 33.38% stake in Unichem Laboratories, shares of the company dropped during the month.
| Scrip Name | March 31, 2023 (Rs) | April 28, 2023 | % |
| Crompton Greaves Consumer Ltd | 293 | 254.9 | -13 |
| Ipca Laboratories Ltd | 810.35 | 710.15 | -12.4 |
| Zee Entertainment Enterprises Ltd | 212.25 | 196.75 | -7.3 |
| PB Fintech Ltd | 638.9 | 600.1 | -6 |
| Cummins India Ltd | 1,629.6 | 1,575.65 | -3.3 |
| Voltas Ltd | 818.25 | 799.05 | -2.3 |
| NMDC Ltd | 111.55 | 108.5 | -2.7 |
| The Ramco Cements Ltd | 756.65 | 736.2 | -2.7 |
| Honeywell Automation India Ltd | 36,385.2 | 35,595.4 | -2.2 |
| Tata Chemicals Ltd | 972.45 | 952.7 | -2 |
Zee Entertainment Enterprises Ltd dropped 7.3% in April, and its shares fell from ₹212.25 to ₹196.75. The stock's sentiment slumped as US investment firm Invesco sold shares of the company through its subsidiary OFI Global China Fund LLC. OFI Global China Fund sold more than 4.91 crore shares, or 5.11% of the company, according to bulk trade data made available by the BSE.
PB Fintech Ltd, slumped 6% in April, where its share prices dropped to ₹600.1 from ₹638.9. Meanwhile, Cummins India Ltd slipped 3.3% during the month, and its share price stood at ₹1,575.65 from ₹1,629.6 in March.
In April, the market value of the stock of Voltas Ltd, NMDC Ltd, The Ramco Cements Ltd, Honeywell Automation India Ltd, and Tata Chemicals Ltd decreased by 2% to 3%.
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