Top Ten Covid Performers: Nifty Index Shares Apr – Jun 2020
After the onset of Covid-19 virus pandemic in India during early March this year and subsequent imposition of lockdown measures in India and across the globe severely impacted capital market in India. Capital market also bore the brunt of flight of capital during this period as global markets went on a tailspin. The top ten Covid performers from Nifty Index comprise of various industry segments and it isn’t dominated by any single industry segment.
Manufacturing dominates top ten over services organisations and surprisingly none of the top ten constituents are from pharmaceuticals or medical services companies. Consumer Goods and Fertilizers & Pesticide industry have multiple players in the top ten.
Shares from various Nifty indices have made it to the top ten price momentum performers. Adani Ports (NSE: ADANIPORTS) is the only stock from Nifty50 in the list. Five stocks from Nifty 250 have made it to the list remaining four are from Nifty 500 index.
Top six in the list have consistently delivered positive price return on 11 weeks out of 13 weeks during this duration. Remaining bottom four have delivered positive price return on 10 weeks during this period. Bajaj Hindustan, Coromandel, Deepak Fertilizers, Dredging Corporation of India, Larsen & Toubro Infotech and Vaibhav Global Ltd have delivered positive price returns during 11 weeks out of 13 weeks.
In terms of highest price returns, Larsen & Toubro Infotech (NSE: LTI) has been the top performer with 3715% price rise during April to June period. LTI stock price rose from Rs50.55 to Rs 1928 by end of June. One of the share in top ten has witnessed such kind of price rise. Bajaj Hindustan (NSE: BAJAJHIND) is the second topmost share in terms of price returns though it is nowhere close to the price return delivered by LTI. BAJAJHIND delivered price returns of 191% during this period.
Remaining eight out of ten shares have delivered less than 100% price returns. Coromandel Fertilizers (NSE: COROMANDEL) has delivered lowest price gain among top ten shares in the list. COROMANDEL delivered only 42% price gain during April –June period.