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Last week, bellwether indices S&P BSE Sensex and Nifty fell marginally by 0.7 per cent and 0.3 per cent respectively. While Bankex (-0.5 per cent), Consumer Durables (-0.7 per cent), Capital Goods (-1.1 per cent) and FMCG (-2.3 per cent) were down for the week, other sectoral indices ended in the green with the best performers being BSE Oil & Gas (3.8 per cent), BSE Healthcare (3.4 per cent), BSE Realty, and BSE PSU (2.5 per cent each).
During the week, many stocks moved up without being backed by any significant news-flows or fundamentals. Triveni Turbines (27 per cent), Trent (20.2 per cent) and Max Healthcare (14 per cent) were the top gainers within the BSE 500 index last week backed by fundamental news.
Triveni Turbines
The stock of Triveni Turbines surged 27 per cent during the week driven by strong Q3 performance.
The company is engaged in the business of manufacturing and supply of power-generating equipment and solutions.
On a y-o-y basis, the company’s Revenue, EBITDA, and net profit witnessed a growth of around 30 per cent in Q3FY24, beating the Bloomberg consensus estimates.
The stock is currently trading at a trailing P/E of 78 times.
Trent
The shares of Trent jumped by 20 per cent last week, led by the robust earnings performance for the quarter ending December 2023.
The company specialises in retailing and trading a diverse range of products, including apparel, footwear, accessories, toys, books, and games, through its established retail outlets such as Westside and Zudio. Additionally, it manages hypermarkets under banners including Star Bazaar and Booker Wholesale.
During the quarter ending in December, while the company’s revenue jumped 50 per cent y-o-y, the net profit more than doubled to ₹374.4 crore, driven by fashion retail outlets including Westside and Zudio.
The stock is currently trading at a trailing P/E of 159 times.
Max Healthcare
The shares of Max Healthcare witnessed a 14 per cent upmove during the previous week, attributable to the company’s acquisition and the strong Q3 earnings.
The company is engaged in providing healthcare services through primary care clinics, multi speciality hospitals/medical centres, and superspeciality hospitals facilities.
Max Healthcare strengthened its presence in the western region by acquiring Nagpur-based Alexis multi-specialty hospital, with 200 beds expandable up to 340, for an enterprise value of ₹412 crore. Furthermore, the company reported a 26 per cent increase in profit after tax to ₹338 crore for the quarter-ending in December.
The stock is currently trading at a trailing P/E of 78 times.
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