Diwali Special: Top 10 stocks that have outperformed the Index between last Diwali to this Diwali

As the festival of light is set to brighten up your house, the stock market is seeing its own illuminating spectacle, with a select group of stocks showcasing stellar performances from Diwali 2022 to Diwali 2023.

The Indian index, which gave returns of 6% from last Diwali to this, has been overshadowed by these top 10 stocks that surged, delivering substantial gains.

L&T: +52.36%

L&T (Larsen & Toubro) takes the lead with a remarkable 52.36% surge in the past year. This surge is attributed to a robust 19% YoY increase in revenue from operations in the second quarter of the fiscal year, reaching ₹51,024 crore. Improved execution of a substantial order book has earned L&T a positive outlook from analysts.

NTPC: +38.90%

NTPC, reflecting the energy sector’s resilience, has seen a significant uptick of 38.90%. The government’s focus on electrifying every corner of the country has benefited NTPC, given its status as a government PSU.

ONGC: +38.72%

ONGC’s (Oil and Natural Gas Corporation) exemplary efforts in transforming frontier areas into new hydrocarbon provinces have led to a surge of 38.72%. From a modest beginning, ONGC has evolved into one of the world’s largest Exploration and Production (E&P) companies in terms of reserves and production.

IndusInd Bank: +33.05%

IndusInd Bank’s impressive 33.05% growth is fueled by analysts’ confidence in its growth prospects. Factors such as a rebound in loan demand, rising digital adoption, and product innovation contribute to the bank’s positive outlook.

Power Grid: +31.62%

With board-approved fundraising and a positive outlook from analysts, Power Grid Corporation has demonstrated its vital role in India’s power infrastructure, resulting in a significant growth of 31.62%.

Coal India: +28.92%

Coal India has surged by 28.92%, driven by a 10.5% YoY increase in production and an 8.5% YoY uptick in offtake in the April-September period of FY24. SECL’s volume uptick has played a pivotal role in this growth.

UltraTech Cement: +27.05%

UltraTech Cement’s strategic expansion plans, aiming to reach 159.65 million tonnes per annum by June-end (FY25), have fueled its impressive 27.05% surge. Investors’ excitement about these expansions is evident, with shares up 34% in the past year.

Titan Company: +23.26%

Titan Company’s outstanding sales growth, beating estimates, has contributed to a 23.26% surge. Analysts note that Titan is among the few consumer companies consistently growing revenue, despite the high base and discretionary nature of its product segments.

Apollo Hospital: +22.52%

The healthcare sector, exemplified by Apollo Hospitals, has seen a solid gain of 22.52%. This underscores the importance of resilient health infrastructure in the current economic landscape.

ITC: +21.63%

ITC’s consistent impressive performance in its FMCG business, with nearly 19% revenue growth and margin improvement despite elevated raw material costs, has led to a 21.63% surge in the past year.