The Indian indices have maintained its upward momentum and closed higher for the second consecutive month. On a year-to-date basis a well, the indices have recovered drastically (over 15 percent), now down around 8 percent.

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Corporate commentaries on gradual demand recovery coupled with benign global backdrop have aided the north-bound journey for the benchmark indices.

Momentum in stocks has also shifted towards the advances. 9 stocks in the BSE500 index have turned multi-baggers in 2020 despite the major COVID-19-led sell-off.

Laurus Labs, Alkyl Amines, Granules India, Adani Green, Suzlon Energy, Dishman Carbogen, Shila Medicate, Vaibhav Global, and Dixon Tech have surged over 100 percent each in 2020.

Laurus Labs, which surged 190 percent in 2020, debuted on exchanges in 2016. the company makes active pharma ingredients (APIs) mainly for HIV drugs. Reliance Securities believes that ongoing traction in domestic API space and capacity expansion in API space by 20-25 percent will aid Laurus Labs to report sustainable growth in the coming quarters.

Meanwhile, Alkyl Amines surged 165 percent in YTD. The company's consolidated net profit in Q1FY21 came in at Rs 52.78 crore which rose by 50.41 percent, as compared to Q1FY20 when it reported Rs 35.09 crore. The company manufactures amines, amine derivatives, specialty chemicals that serve the pharmaceutical, agrochemical, rubber chemicals, and paints sectors.

The third company on the list is Granules India, which jumped 151 percent in 2020. The drugmaker’s revenue rose 24 percent year-on-year to Rs 736 crore in Q1 while profit was up 34 percent to Rs 111 crore. Granules India is expecting investments by partner companies in the next few months, said Krishna Prasad Chigurupati, chairman and managing director of the pharmaceutical company. “In the next one year, investments would start. We are in talks and if the talks are successful, we should see some investment by our partner companies in the next few months,” he said.

Emkay, in a recent report, said maintained a ‘buy’ rating to the stock. The company is trying to course-correct, promoter pledge is down from 63 percent to 8 percent over the last few quarters, it added.

Renewable energy companies Suzlon Energy and Adani Green also added around 120 percent each in this period. The others on the list belong to the healthcare and electronic manufacturing sector. Shilpa Medicate and Dishman Carbogen fro the pharma space rose 117 percent each while Vaibhav Global and Dixon Tech advanced 112 percent and 106 percent, respectively.

Other major gainers included Navine Flourine, Aurobindo pharma, Hathway Cables, Escorts, JB Chemicals, IPCA Labs, Alembic Pharma, Rallis India, HAL, and Tata Consumer up between 68 percent and 98 percent.

First Published:Aug 17, 2020 3:04 PM IST