Business
Stocks that bucked the trend yesterday and continue to show strength today
Stocks that bucked the trend yesterday and continue to show strength today
About this update from Pakka Ltd
Dalal Street kicked off the week in turmoil, with investors scrambling to book profits as the yen carry trade unwound and recession fears gripped the market. This global sell-off saw foreign investors pulling out of Indian stocks, erasing over Rs 15 lakh crore in investor wealth.Despite the chaos, some stocks weathered the storm and even grew investor wealth. From defensive plays to those boosted by the Budget and strong earnings updates, several stocks stood out. Here’s a rundown of the top performers:#1 Shakti Pumps | +8% in 2 daysShakti Pumps has recently attracted attention after securing a Rs 558 crore order from the Uttar Pradesh government under the PM-KUSUM scheme, which promotes solar energy use in agriculture by subsidizing solar pumps for farmers. Since the scheme's launch in 2019, Shakti Pumps has shifted its focus to solar pumps through innovation and research.This strategic pivot has paid off significantly, with the company's profit after tax soaring from Rs 2 crore in Q4FY23 to Rs 90 crore in Q4FY24—an astonishing 45-fold increase in a year. During the same quarter, Shakti Pumps delivered 15,000 solar pumps under the scheme, driving a 41 percent YoY revenue growth and fueling the remarkable net profit surge.ALSO READ: Stock market crash: Hilarious memes flood social media even as investors lose Rs 17 lakh crore#2 Fino Payments Bank | +7% in 2 daysOn a weak market day, the Mumbai-based bank stood out by reporting its highest-ever quarterly profit of Rs 24.3 crore, a 30 percent increase from last year, with overall throughput growing 39 percent year-on-year in Q1FY25. The bank has been actively investing in digital improvements, including revamping its website and mobile apps, which has resulted in a 37 percent increase in average deposits year-on-year—an impressive feat amid challenges faced by traditional lenders.With Paytm Payments Bank exiting and UPI transactions growing, the bank aims to triple its digital banking revenue share by FY25. Last December, it applied to the RBI for a small finance bank (SFB) license and is awaiting approval. If granted, this license will enable the bank to expand its offerings to include fixed and recurring deposits, enhancing its customer profile.#3 CERA Sanitaryware | +12% in 2 daysThe stock of this leading home solutions provider extended its gains for a second consecutive day, reaching an all-time high o...