The market opened positive on 23rd September 2024, continuing the momentum of the previous trading session on Friday following the US Fed rate cut of 50 basis points. The NIFTY hit a new high (intraday) of 25,956 and closed at 25,939. On the other hand, the SENSEX hit a fresh high at 84,980.53 and closed green at 84,928.61. Apart from the indices, a few other stocks made it to the list of the top performers of 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 23rd September 2024:
| Sno | Symbol | CMP | Performance |
| 1 | SBFC | 105.15 | 19.24 % |
| 2 | AMBER | 4924.00 | 13.26 % |
| 3 | VIPIND | 555.50 | 11.37 % |
| 4 | FINCABLES | 1517.10 | 9.36 % |
| 5 | MAHABANK | 63.20 | 8.18 % |
| 6 | GODREJPROP | 3200.00 | 7.10 % |
| 7 | DEEPAKFERT | 1038.40 | 6.85 % |
| 8 | ASAHIINDIA | 824.00 | 5.97 % |
| 9 | GPIL | 990.00 | 5.41 % |
| 10 | KALYANKJIL | 770.00 | 5.41 % |
(source: NSE on 23rd September 2024)
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:
SBFC Finance Limited:
SBFC Finance Limited, founded in 2008, is an NBFC offering Secured MSME Loans and Loans against Gold. With 186 branches across 152 cities in 16 states and 2 union territories, it uses a unique “PhyGital” model. SBFC focuses on loans between Rs.0.05 and Rs.0.3 crore, tapping into a Rs.2.5 lakh crore MSME market growing at 24% CAGR. SBFC’s AUM grew at 44% CAGR from FY19 to FY23, reaching Rs.7167 crore by June 2024, with secured MSME AUM at Rs.5954 crore. Its tangible net worth is Rs.2604 crore, with a capital adequacy ratio of 40.8%, AA- (Stable) credit rating, and a PAT of Rs.79 crore (68% yoy growth). Plus, as of the June 2024 quarter, its net NPA stands at 1.51%. (Source: Annual Report)
Amber Enterprises India Limited:
Amber Enterprises India Ltd, founded in 1956, holds a 23.6% share in India’s Room Air Conditioner (RAC) market. It’s a leading solution provider for the air conditioner OEM/ODM industry, with a 29% market share. Amber offers complete RACs, heat exchangers, fans, and more. It also expanded into washing machines through a joint venture with Resojet Private Limited and acquired Ascent Circuits for PCB production. In June 2024, revenue grew by 41% due to high RAC demand from a hot summer. Amber also increased its stake in ILJIN and Ever to 90.2%. As of FY2024, total revenue reached Rs.6,729 crore with Rs.139 crore in profit. Plus, the ROCE stood at 12.61%, and PAT was Rs.75 crore with a 3.1% margin. (Source: Annual Report)
VIP Industries Limited:
VIP Industries is a leading player in manufacturing and marketing luggage, bags, and accessories. It holds the top spot in Asia and is the world’s second-largest manufacturer and retailer in this segment. With around 38% market share, VIP is the clear leader in India’s organized luggage market. Founded in 1968, the company is known for its flagship brand, VIP, and offers a variety of products covering different luggage types and price points. In FY2024, VIP Industries generated Rs.2,244.96 crore in revenue, marking a 7.81% growth from Rs.2,082.32 crore in the previous year. However, profits after tax saw a drop to Rs.54.28 crore from Rs.152.34 crore the previous year. Even as of the June 2024 quarter, the company posted a net profit of Rs.4.04 crore, lower than the June 2023 profit of Rs.57.75 crore. (Source: Annual Report)
Finolex Cables Ltd.:
Finolex Cables Limited is one of India’s top electrical and telecom cable manufacturers, with over 50 years of experience. It has built a solid reputation by offering a wide range of wires and cables. The company has also ventured into Fast-Moving Electrical Goods (FMEG) and home appliances, strengthening its brand in both retail and institutional markets. As of Q1FY24, Finolex holds a 22% market share in the organized wire sector, backed by 5,000+ channel partners and 175,000+ retailers. With five manufacturing sites, 1,576 employees, and a turnover of Rs.5,014.4 crores, the company remains debt-free. In FY2024, Finolex reported a PAT of Rs.571.6 crores (14% up) and a net worth of Rs.4,205.9 crores, with a dividend payout of Rs.8 per share (400%). (Source: Annual Report)
Bank of Maharashtra:
Bank of Maharashtra, established in September 1935, offers various banking services across Treasury, Corporate/Wholesale Banking, Retail Banking, and Other operations. In FY24, Retail Banking contributed ~39% of revenue, Corporate/Wholesale Banking ~36%, Treasury 21%, and Other Operations 4%. The bank’s total business grew by 15.94% to Rs.4,74,411 crore Total deposits rose 15.66% to Rs.2,70,747 crore, while gross advances increased by 16.30% to Rs.2,03,664 crore CASA deposits grew 14.25% to Rs.1,42,774 crore. As of FY2024, the net profit surged 55.84% to Rs.4,055 crore, with a Net Interest Margin (NIM) of 3.92%. Net Interest Income (NII) climbed 26.88% to Rs.9,822 crore The cost-to-income ratio improved to 37.55%, and Return on Assets (ROA) rose to 1.50%. Also, the net NPA dropped to 0.20%, while the Capital Adequacy Ratio stood at 17.38%. (Source: Annual Report)
Top 10 volume gainers from NIFTY 500
Based on the trade volume of 23rd September 2024 vs the past one week’s average:
| Sno | Symbol | Volume | Volume Change % |
| 1 | SBFC | 121156618 | 4755.0 % |
| 2 | AMBER | 3005176 | 3856.63 % |
| 3 | FINCABLES | 3636812 | 3776.59 % |
| 4 | VIPIND | 10652748 | 1199.55 % |
| 5 | HAPPYFORGE | 225190 | 1074.64 % |
| 6 | ATGL | 6122329 | 832.73 % |
| 7 | ELECON | 1703108 | 492.72 % |
| 8 | CAMS | 1315365 | 449.63 % |
| 9 | MAHABANK | 44636811 | 409.31 % |
| 10 | TATAINVEST | 171475 | 394.33 % |
(source: NSE on 23rd September 2024)
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:
Happy Forgings Limited:
Happy Forgings Limited, incorporated in July 1979, is a leading Indian manufacturer of heavy forgings and high-precision machined components. It’s the 4th largest producer of complex, safety-critical components by forging capacity in India. HFL mainly serves domestic and global OEMs in the commercial vehicle sector. It also caters to industries like farm equipment, off-highway vehicles, oil and gas, power generation, railways, and wind turbines. As of FY2024, HFL has an AA/STABLE rating from CRISIL and ICRA. It’s the 2nd largest producer of commercial vehicles and high-horsepower industrial crankshafts, with an annual forging capacity of 1,20,000 tonnes. HFL’s FY2024 revenue reached Rs.138 crore, with a 16% growth, while PAT stood at Rs.243 crore, showing a 27% rise. The company’s PAT margin is 17.9%, and ROCE is 21.8%. (Source: Annual Report)
Adani Total Gas Limited:
AGL is in the City Gas Distribution (CGD) business, supplying natural gas to homes, businesses, industries, and vehicles. It is promoted by the Adani Group and Total Energy, with each holding a 37.4% stake. AGL develops CGD networks, providing piped natural gas (PNG) and compressed natural gas (CNG). It has also expanded into e-mobility and biomass through subsidiaries. Additionally, AGL has a 50:50 joint venture in gas meter manufacturing. As of June 2024, it has 14.7 MW installed capacity and 740+ charge points under construction. Its net sales for June 2024 were Rs 1,145.49 crore, an 8.47% increase from last year, with a quarterly net profit of Rs 171.84 crore, up 14.39% from June 2023. (Source: Annual Report)
Elecon Engineering Company Limited:
Elecon Engineering Company Ltd. was founded in 1960 and manufactures power transmission and material handling equipment. It also operates in the steel and non-ferrous foundry business. Elecon introduced modular design and ground gear technology to India, becoming one of Asia’s largest industrial gear manufacturers, with a 39% market share in India. It was the first in India to make advanced bulk material handling equipment and the only company to manufacture complex gearboxes for the Indian Navy. Elecon’s clients include Ultratech, British Steel, Tetra Pak, Adani, and more. As of FY2024, Elecon has a net worth of Rs.1,584.08 crore, a debt-to-equity ratio of 0.04, a turnover of Rs.1,937.42 crore, and a net profit margin of 18.35%, with profits of Rs.355.58 crore. Plus, ROCE for FY2024 stands at 28.7%. (Source: Annual Report)
Computer Age Management Services Ltd:
CAMS is a mutual funds transfer agency that offers investor services, distributor services, and asset management company services. It’s India’s largest registrar and transfer agent, holding about 69% market share. CAMS provides technology-based and compliance services, along with brokerage computation. It has a strong presence with 280 service centers across 25 states and 5 union territories. As of FY2024, CAMS holds a 40% market share in policies managed, with assets under management reaching Rs.36.7 trillion and a transaction volume of 59.85 crore. Notably, it became the first RTA at GIFT City to set up full-stack operations for AIFs. The company achieved an impressive 18% year-on-year revenue growth to Rs.34.5 crore. In the June 2024 quarter, net sales rose to Rs.331.40 crore, a 26.83% increase from the previous year, with a quarterly net profit of Rs.108.21 crore, up 41.75%. (Source: Annual Report)
Tata Investment Corporation Ltd.:
Tata Investment Corporation Ltd (TICL) is an RBI-registered NBFC that invests in both listed and unlisted equity shares, debt instruments, and mutual funds across various sectors. Since 1994, CRISIL has given TICL a ‘AAA’ rating, indicating top safety for interest and principal payments. In 2012, TICL acquired a 95.57% stake in Simto Investment Co. Ltd., making it a subsidiary. It was also one of the first to get approval to sponsor the Tata Mutual Fund. For FY2024, TICL reported a revenue of Rs. 385.95 crore, marking a 38.97% increase from FY2023. As of 23rd September 2024, its stock returned 148.33% over one year and 438.30% over three years. (Source: Annual Report)
The market trend looks positive, as the indices continued the rally on Monday. However, a market like this one may be considered volatile to trade in. It is thus suggested to tread cautiously and take any decision after careful consideration to safeguard the gains in the market.
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.
