The big winners of May 2023

Every month, a couple of stocks surprise with massive moves. These may already be trending higher and surge further, or they could be stocks in a downtrend that suddenly turn around with a significant movement in a month. The reasons for these moves can be many, ranging from a good set of results to the confirmation of a high-value order/deal or even an announcement of a change in management or new leadership. For investors tracking such stocks, it is helpful as they can shortlist stocks for further research based on this data.

Stocks are based on data for Nifty 200 stocks

Jindal Saw: 47% monthly gain.

Jindal Saw is a leading global manufacturer and supplier of iron & steel pipes and pellets, with manufacturing facilities in India. The company has reported consistent revenue growth in recent years, owing to increased sales volumes, improved capacity utilization, and higher realizations.

The company posted a solid set of Q4FY23 numbers, with net profit growth of 178% on a YoY basis, reaching Rs 353.7 crore. This quarter also witnessed its highest-ever revenue and net profits.

Jindal Saw anticipates that recent government policy announcements about railways, roads, civil aviation, gas pipelines for affordable housing, and increased budgetary allocation to this sector will support a relatively solid demand recovery and drive the need for iron & steel products.

AGI Greenpac : 42% monthly gain 

AGI Greenpac is in the business of manufacturing glass containers and sanitaryware. In FY23, the company posted its highest-ever revenues and net profits.

Commenting on the results, Mr. Sandip Somany, Chairman and Managing Director of AGI Greenpac Limited, stated, ‘The rise in demand for glass packaging containers from both the non-alcoholic and alcoholic beverage segments, along with our integrated business model and premium products, helped us deliver sustainable growth for the year.’

The company commenced commercial production of its specialty glass facility at Bhongir in the state of Telangana, with an installed capacity of 154 tonnes per day, starting from 1st January 2023. It also entered export markets such as the EU, Canada, and South Africa with niche products.

Zensar Technolgies: 37% monthly gain

Zensar Technologies is an IT services company providing a complete range of IT services and solutions. The company’s industry expertise spans across manufacturing, retail, media, banking, insurance, healthcare, and utilities.

The company has added four service lines in the past one and a half years, which have increased the addressable market and subsequently revenue growth opportunities. The company won a strong Total Contract Value (TCV) of US$174.9 million, up 34% QoQ and 5.6% YoY. Zensar also mentioned that the TCV win was broad-based across verticals and a healthy mix of new wins and renewals.

Dixon Technologies: 34.2% monthly gain

Dixon Technologies transformed from being a manufacturer of electronic goods to a leading multi-product corporation with widespread activities. It is primarily engaged in the manufacturing of electronics as its core business activity. Dixon surprised the street with better-than-expected Q4 results. Its annual revenues and net profits in FY23 are the highest ever for the company. Another piece of news driving investor interest is Dixon Technologies’ announcement that it proposes to manufacture and export smartphones for Xiaomi India and will explore enhancing the component ecosystem in the country through wholly-owned subsidiaries.

Tega Industries: 34.15% monthly gain

Tega Industries is engaged in the activity of designing, manufacturing, and installation of process equipment and accessories to cater to the mineral processing, mining, material handling, and environmental industries. The company posted a strong set of numbers in Q4FY23, recording its highest-ever quarterly revenues and net profits. Another significant factor contributing to the rise in the stock price can be attributed to the acquisition of McNally Sayaji Engineering Limited.

Engineers India: 32.5% monthly gain

Engineers India is a Government of India Enterprise under the Ministry of Petroleum and Natural Gas. The company operates in two major segments, namely Consultancy & Engineering projects and Turnkey projects. It has secured a record number of new orders in Q4FY23, ranging from a turnkey project for Chennai Petroleum worth Rs 259.6 crore to international orders worth Rs 180 crore in Guyana, Rs 320 crore in Nigeria, and many more.

About the Author

Sagar Wadhwa

Sagar Wadhwa is a Senior Equity Research Analyst who is a key member of the research team at Univest. He has extensive knowledge and expertise in the stock market, financial analysis, and investing and uses this expertise to provide valuable insights to the research team.

Note – This channel is for educational and training purposes only & any stock mentioned here should not be taken as a tip/recommendation/advice

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