US markets showed overnight strength, boosting local markets and raising hopes for a future RBI rate cut. On the other hand, concerns about a US economic slowdown eased slightly with lower-than-expected jobless claims for the week ending 14th September. As a result, Indian markets closed in the green on Friday. On 20th September, bulls maintained their grip on Dalal Street, pushing benchmark indices to fresh all-time highs, fueled by positive global cues and widespread buying. The NIFTY closed at 25,791 while the SENSEX called it a day at 84,544.31. Apart from these, a few of the good-performing stocks made it to the list of top performers for the day.
As the market opens at 9:00 AM today, we present 20 stocks to consider adding to your watchlist. Here are ten stocks with the highest trading volume and ten stocks based on their performance at yesterday’s market close.
Top 10 stock performers today from NIFTY 500
Based on the closing figures of 18th September 2024:
| Sno | Symbol | CMP | Performance |
| 1 | CONCORDBIO | 2591.00 | 15.13 % |
| 2 | PRSMJOHNSN | 219.32 | 12.22 % |
| 3 | MAXHEALTH | 1085.75 | 10.25 % |
| 4 | IRB | 64.99 | 10.13 % |
| 5 | RITES | 375.95 | 10.02 % |
| 6 | COCHINSHIP | 1846.05 | 10.00 % |
| 7 | HUDCO | 251.60 | 9.15 % |
| 8 | PHOENIXLTD | 1927.10 | 9.13 % |
| 9 | GRSE | 1848.00 | 8.65 % |
| 10 | ASAHIINDIA | 766.65 | 8.22 % |
Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. Past performance is not indicative of future results.
Understanding the Top 5 stocks of the list:
Concord Biotech Limited:
Concord Biotech Limited, founded in 1984, is an India-based biopharma company known for its R&D focus and fermentation-based APIs in areas like immunosuppressants and oncology. With over 30 fermentation-based APIs, it holds a 20%+ market share by volume across five molecules. Concord serves 250+ customers in 70+ countries. In August 2023, the company’s IPO was oversubscribed 25 times. For FY2024, it posted a net worth of Rs. 1,526.6 crore, with a PAT of Rs. 308.1 crore, marking a 28% growth. Revenue from operations hit Rs. 1,016.9 crore, up 19% year-on-year, with a 27% ROCE. Concord is also nearly debt-free. (Source: Annual Report)
Prism Johnson Limited:
Prism Johnson Limited, a mid-cap cement company, has been a key player in India’s building materials industry since 1992. Promoted by the Rajan Raheja Group, it offers a wide range of products, from cement and ready-mixed concrete to tiles, bath fittings, and modular kitchens. The company operates in three divisions: Cement, H & R Johnson (India), and RMC (India). In the June 2024 quarter, Prism Johnson posted a revenue of Rs.1,777.14 crore, a 14.93% drop from March 2024 and a 9.17% decline from June 2023. Despite a FY2024 net profit of Rs.162 crore and a P/E ratio of 91.88, the stock has grown 70.52% in the last year and 81.21% over three years as of 20th September 2024. (Source: Annual Report)
Max Healthcare Limited:
Max Healthcare is India’s second-largest hospital chain by revenue, EBITDA, and market capitalization. It offers healthcare services through primary care clinics, multi-specialty, and super-specialty hospitals, managing 20 facilities with over 4,300 beds across NCR Delhi, Haryana, Punjab, Uttarakhand, and Maharashtra. Around 85% of its bed capacity is in Metro/Tier 1 cities. As of FY2024, Max Healthcare’s revenue rose by 15.7% to Rs.7,215 crore, with a PAT increase of 17.8%, reaching Rs.1,058 crore. It has a net worth of Rs.8,408 crore and a net debt of Rs.131 crore. Notably, the debt-equity ratio stands at 0.15, and over 400 research papers were published in FY 2023-24. (Source: Annual Report)
IRB Infrastructure Developers Ltd.:
IRB Infrastructure Developers Ltd is a key player in India’s infrastructure sector, with a strong focus on roads and highways. It also operates in areas like road maintenance, airport development, and real estate. As India’s largest road BOT operator, it handles 36 projects, holding 37% of the TOT market and about 20% of the Golden Quadrilateral Highway Network. It can manage the construction of 500-600 km at once. As of Q3 FY24, its order book stands at Rs.36,200 crore, with Rs.29,200 crore for operations and maintenance. Cintra recently acquired a 24% stake in IRB Infrastructure Trust. In Q1 FY25, IRB saw a 5% rise in PAT to Rs.140 crore, with a 10% PAT margin, while revenue hit Rs.1,971.7 crore. An interim dividend of 10% (FV: Rs.1) totaling Rs.60.39 crore was announced. (Source: Annual Report)
RITES Limited:
RITES Limited, established in 1974, is a leading public sector company in India’s transport consultancy and engineering sector. It’s the only export arm of Indian Railways for rolling stock, except in Thailand, Malaysia, and Indonesia. RITES deals in locomotives, coaches, wagons, and train sets in various gauges. It also offers consultancy, exports, leasing, and turnkey solutions across railways, metros, airports, highways, and more. As of FY2024, RITES provides a solid dividend yield of 3.08%, maintaining a payout of 88.3%. However, its net sales for June 2024 stood at Rs. 485.76 crore, down 10.76% from June 2023. Quarterly net profit dropped 26.84%, reaching Rs. 79.02 crore. EBITDA also decreased by 28.62%, standing at Rs. 128.27 crore. (Source: Annual Report)
Top 10 volume gainers from NIFTY 500
Based on the trade volume of 20th September 2024 vs the past one week’s average:
| Sno | Symbol | Volume | Volume Change % |
| 1 | ASAHIINDIA | 6307629 | 3315.13 % |
| 2 | MINDACORP | 11666678 | 2110.12 % |
| 3 | CONCORDBIO | 4008373 | 1431.55 % |
| 4 | ERIS | 2628085 | 1262.96 % |
| 5 | FIVESTAR | 9432298 | 1203.90 % |
| 6 | M&MFIN | 16177462 | 815.18 % |
| 7 | GILLETTE | 336454 | 703.67 % |
| 8 | GRSE | 5810785 | 703.25 % |
| 9 | ESCORTS | 1701708 | 622.60 % |
| 10 | IIFL | 45196620 | 597.90 % |
Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. Past performance is not indicative of future results.
Understanding the stocks of the list:
Asahi India Glass Ltd.:
Asahi India Glass Ltd. (AIS) is India’s top value-added glass solutions company, excelling in both automotive and architectural glass. Founded in 1984 through a joint venture with the Labroo Family, Japan’s Asahi Glass Co., and Maruti Suzuki India, AIS provides complete glass solutions, from manufacturing to installation. It operates 12 plants across 8 locations and 10 sub-assembly units. AIS dominates the Indian passenger car segment with a 75% market share. In FY2024, it reported total revenue of Rs.4,365.86 crore (up 8% from FY2023) and Rs.327.89 crore in profit after tax, proposing a 200% dividend. AIS also became the first in India’s float glass industry to use “Green Hydrogen” at its F3 plant. (Source: Annual Report)
Minda Corporation Limited:
Minda Corporation Ltd. is a top automotive component manufacturer in India and the flagship company of Spark Minda. It makes products like security systems, door systems, EV controllers, and plastic interiors for auto OEMs worldwide. Minda is also a major supplier of security systems for 2-wheelers, 3-wheelers, and off-road vehicles, exporting about 20% of its products to markets in the USA, UK, Europe, and Southeast Asia. As of 20th September 2024, its share price jumped by 67.02% over the past year, with a P/E ratio of 51.06. The company’s net profit in June 2024 reached Rs.62.20 crore, reflecting a 42% rise compared to Rs.45.21 crore in June 2023. (Source: Annual Report)
ERIS Lifesciences Limited:
ERIS Lifesciences Ltd is a major player in manufacturing and marketing pharmaceutical products. It’s the youngest company in the top 20 of the Indian Pharmaceutical Market. A few years ago, 80% of its revenue came from three main therapies: Oral Anti-Diabetes, CVD, and VMN. Today, these account for 54%, with an 11% CAGR over the period. In FY24, ERIS expanded into sterile injectables by acquiring Biocon’s India Branded Formulations and Swiss Parenterals. For the same year, revenue from operations reached Rs.2009.1 crore, a 19% year-on-year growth. Profit after tax stood at Rs.397.1 crore, marking a 6% growth. The return on capital employed (ROCE) was 19%. (Source: Annual Report)
Five Star Business Finance Limited:
Five Star Business Finance Limited, incorporated in 1984, is a fast-growing NBFC-ND-SI offering secured business loans to micro-entrepreneurs and self-employed individuals in South India. From FY17 to FY21, it achieved a 65% CAGR. Recently, the company added 27 branches, bringing the total to 547, up from 386 as of June 30, 2023. As of the June 2024 quarter, its gross NPA stands at 1.41%, with a PAT of Rs.251.6 crore and a loan portfolio of Rs.10,343.9 crore. The net interest margin is 16.72%, and the return on assets is 8.23%. Compared to Q1FY24, the assets under management grew by 36% year-on-year to Rs.10,340 crore, with a net worth of Rs.5,450 crore. (Source: Annual Report)
Mahindra & Mahindra Financial Services Ltd.:
Mahindra & Mahindra Financial Services Limited (MMFSL), part of the Mahindra Group, is a non-banking financial company (NBFC). It focuses on financing new and used vehicles, tractors, commercial vehicles, construction equipment, and SME financing. MMFSL also has a strong international presence through Mahindra Finance USA LLC, which finances Mahindra tractors in the US. In Sri Lanka, Mahindra Ideal Finance Limited (MIFL) offers leases, loans, gold loans, and fixed deposits. In FY24, MMFSL crossed Rs.1,00,000 crore in assets under management (AUM). Total income grew by 23%, reaching Rs.13,562 crore, up from Rs.11,056 crore in FY23. The company reported its highest-ever annual disbursement of Rs.1,02,597 crore, with a gross loan book growth of 24% year-on-year. Profit after tax stood at Rs.1,760 crore, showing an 11% increase. Net interest margins remained stable at 6.8%, with a capital adequacy ratio of 18.9%. (Source: Annual Report)
The market trend looks positive, and the US Fed’s rate cut should boost flows into emerging markets like India. When major economies improve, it often impacts the Indian market as well. However, it’s important to be cautious with the mixed market sentiment. Take your time and consider each investment decision carefully.
Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & the certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.
