Based on Weekly Price Momentum of Nifty Index Shares
Since January this year a number of Nifty Index stocks have registered tremendous price gains despite major fall in prices during lockdown period. Out of top ten stocks five are from Nifty500 and remaining from Nifty250 indices. Four of the ten stocks with most consistent price performance are from IT sector followed by pharma sector.
Most of the stocks registered a steep fall during march-june period and went into recovery later gained momentum in August & September period.
Vaibhav Global (NSE: VAIBHAVGBL) is the most consistent price performing stock, out of 39 trading weeks the stock delivered positive price return in 28 weeks. Escorts Ltd (NSE: ESCORTS) was the second most consistent stock as it delivered positive price returns on 26 weeks out of 39 traded weeks.
Atul ltd (NSE: ATUL), J B Chemicals and Pharmaceuticals (NSE: JBCHEPHARM) and Tata Elxsi (NSE:TATAELXSI) delivered positive price returns on 25 weeks out of 39 traded weeks.
JBCHEPHARM was the topmost share in terms of price returns, the stock delivered 129% price gain during Jan – Sep period, the stock rose to Rs 982 from Rs 429 in Jan 2020.
VAIBHAVGBL was not only the most consistent price return share but also amongst the topmost share in terms of price gain, the stock rose 120% to Rs 1880 on 30 Sep from Rs 849 in the beginning of the year and despite major fall during lockdown. ESCORTS was very close with 118% price gains during the same period, the stock rose from Rs606 in Jan to Rs 1321 on 30 Sep.
Two IT services stocks Persistent Systems (NSE: PERSISTENT) and Firstsource Solutions (NSE: FSL) delivered over 80% price gains between Jan and Sep. PERSISTENT rose to Rs 1337 from Rs 706 in Jan to deliver 89% price returns. FSL on the other hand delivered 82% price gains during the same period, the stock rose to Rs 72.8 at the end of Sep from Rs 40 in the beginning of the year.
Larsen & Toubro Infotech (NSE: LTI) and Tata Exlsi (NSE: TATAEXLSI) were two other IT stocks that consistently gained during this period. TATAEXLSI rose by 55% and LTI stock price rose by 42% during this period.
Atul Ltd (NSE: ATUL) and Coromandel International (NSE: COROMANDEL) were two stocks in chemical and fertilizer segment that delivered consistent price performance throughout this period. ATUL stock price rose 50% and COROMANDEL stock rose by 45% during Jan-Sep period.