After a slow start to the week and a nominal correction on Tuesday, a rapid recovery on Friday saw Nifty and Sensex end up with 0.7 per cent and 0.9 per cent gains respectively for the week. Sensex reclaimed 80,000 while Nifty ended up above 24,500 as the markets closed on August 16, 2024.

Most of the BSE Sectoral Indices were in the green with IT emerging as the biggest gainer with 4.3 per cent gains, while PSU was worst hit shedding 1.2 per cent.

While many stocks soared during the week, here are 3 stocks from the BSE 500 universe which outperformed the benchmark on the back of some company specific news during the week.

INOX WIND LIMITED

Inox Wind Limited settled at ₹212.7 on August 16, 2024, increasing by 22.1 per cent during the week. The company announced its quarterly results for Q1 FY25 after market hours on Friday, August 9, 2024, and investors flocked to buy a stake in the company on Monday, August 12, 2024. The results were more than decent, with turnover increasing 85 per cent to ₹651 crore and EBITDA increasing 349 per cent to ₹157 crore. The company has been expanding its PAT consistently since Q3 FY24, when it hit profitability for the first time since FY17. The orderbook too soared exponentially to greater than 2.9 GW for the first time in the history of the company providing good revenue visibility.

Inox Wind Limited is engaged in the business of manufacturing Wind Turbine Generators (WTGs) and is a wind energy solutions provider servicing IPPs, utilities, PSUs, corporates and public. 

The stock is trading at a pricey trailing 12-month PE of 360.5 times.

JUBILANT FOODWORKS LIMITED

Jubilant Foodworks soared to its 52-week high, touching ₹656 per share during the week, before settling down at ₹644 as at market close on August 16, 2024, making investors richer by 7.6 per cent in a week. This was on account of a decent performance in Q1 FY25, with operating revenue increasing by 45 per cent to ₹1,933 crore, EBITDA rising by 39 per cent to ₹383 crore and PAT more than doubling to around ₹61 crore on a Y-o-Y basis. Like-For-Like (LFL) growth from its mature stores was at an encouraging 3 per cent after being negative for the most part of FY24. The company has been expanding its store count Q-o-Q with an increasing mix of franchise stores.

Jubilant Foodworks Limited is a QSR operator and holds the master franchise rights for brands such as Domino’s Pizza, Dunkin’ Donuts and Popeyes.

The stock is trading at a trailing 12-month PE of 99.7 times.

VOLTAS LIMITED

The market appreciated Voltas Limited’s milestone of hitting 1 million AC sales in a quarter for the first time in Q1 FY25, with a solid weekly gain of 7.3 per cent. The share prices also touched their 52-week high of ₹1,599 during the week before settling down at ₹1,534. The above milestone was backed by blockbuster results which saw revenue rise by 47 per cent to ₹4,912 crore, while EBITDA and PAT soared by 156 and 160 per cent Y-o-Y respectively. Operating margins also improved from 5 per cent to 8 per cent Y-o-Y. With an exit market share of around 21.2 per cent as at the end of Q1 FY25 and a phenomenal volume growth of 67 per cent Y-o-Y, Voltas continues to be the market leader in air-conditioners. With cooling products, which adds up to be the largest segment for the company, being a largely seasonal business, it is important to note that Q1 and Q4 are the strongest quarters of the company.

Voltas is engaged in the business of air conditioning, refrigeration, electro-mechanical projects as an EPC contractor and engineering product services for mining, water management and treatment, construction equipments and textile industry.

The stock is trading at a trailing 12-month PE of 111.1 times.

Related Topics