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Business News/ Photos / Beating the blues! From IRFC to Salasar Techno, these 5 stocks jump over 50% in January 2024

Beating the blues! From IRFC to Salasar Techno, these 5 stocks jump over 50% in January 2024

6 Photos . Updated: 23 Jan 2024, 03:56 PM IST Pranati Deva

Even though Indian markets have shed around 2.5% in January so far, 5 stocks beat the overall negative market sentiment. The recent correction comes amid some disappointing Q3 results, a rise in US yields, and FPI selling. Let's take a look at stocks that have jumped over 50% jump January.

Salasar Techno Engineering: The stock has rallied almost 64% in January so far after a 31% jump in December and an 11.3% rise in November. Meanwhile, in the last 1 year, the stock has advanced over 89 percent. The stock hit its record high of <span class='webrupee'>₹</span>112.40 on January 23, 2024, and has skyrocketed 210% from its 52-week low of <span class='webrupee'>₹</span>36.25, hit on March 27, 2023. Incorporated in 2006, Salasar Techno Engineering is engaged in manufacturing of large & heavy steel structures, and providing customized steel structures and 360-degree EPC solutions to a diverse range of industries including telecom, power, railways, and more. The firm's company board will meet on Thursday, January 25 to consider proposals of fundraising to accelerate business growth and to augment the financial resources of the company, it said in the exchange filing. (AP)

1/6Salasar Techno Engineering: The stock has rallied almost 64% in January so far after a 31% jump in December and an 11.3% rise in November. Meanwhile, in the last 1 year, the stock has advanced over 89 percent. The stock hit its record high of ₹112.40 on January 23, 2024, and has skyrocketed 210% from its 52-week low of ₹36.25, hit on March 27, 2023. Incorporated in 2006, Salasar Techno Engineering is engaged in manufacturing of large & heavy steel structures, and providing customized steel structures and 360-degree EPC solutions to a diverse range of industries including telecom, power, railways, and more. The firm's company board will meet on Thursday, January 25 to consider proposals of fundraising to accelerate business growth and to augment the financial resources of the company, it said in the exchange filing. (AP)

Global Surfaces: The stock has surged 63% in January so far after a 12.5% fall in December. It was listed in March 2023. The stock hit its record high of <span class='webrupee'>₹</span>112.40 on January 23, 2024, and has skyrocketed 210% from its 52-week low of <span class='webrupee'>₹</span>36.25, hit on March 27, 2023. The stock hit its record high of <span class='webrupee'>₹</span>321 on January 20, 2024, and has jumped 112% from its 52-week low of <span class='webrupee'>₹</span>151.10, hit on March 28, 2023. Global Surfaces Limited engages in the mining, production, and export of natural stones and engineered quartz.

2/6Global Surfaces: The stock has surged 63% in January so far after a 12.5% fall in December. It was listed in March 2023. The stock hit its record high of ₹112.40 on January 23, 2024, and has skyrocketed 210% from its 52-week low of ₹36.25, hit on March 27, 2023. The stock hit its record high of ₹321 on January 20, 2024, and has jumped 112% from its 52-week low of ₹151.10, hit on March 28, 2023. Global Surfaces Limited engages in the mining, production, and export of natural stones and engineered quartz.

IRFC: The railway stock has surged over 63% in January so far after a 12.5% fall in December. It has soared over 432% in the last 1 year. The stock hit its record high of <span class='webrupee'>₹</span>192.80 on January 23, 2024, and has skyrocketed 659% from its 52-week low of <span class='webrupee'>₹</span>25.40, hit on March 28, 2023. Indian Railway Finance Corporation Limited engages in borrowing funds from the financial markets to finance the acquisition/creation of assets that are leased out to the Indian Railways as finance leases in India. Last week its market capitalisation surpassed <span class='webrupee'>₹</span>2 lakh crore for the first time, making it the ninth Indian PSU firm to achieve this feat. 

3/6IRFC: The railway stock has surged over 63% in January so far after a 12.5% fall in December. It has soared over 432% in the last 1 year. The stock hit its record high of ₹192.80 on January 23, 2024, and has skyrocketed 659% from its 52-week low of ₹25.40, hit on March 28, 2023. Indian Railway Finance Corporation Limited engages in borrowing funds from the financial markets to finance the acquisition/creation of assets that are leased out to the Indian Railways as finance leases in India. Last week its market capitalisation surpassed ₹2 lakh crore for the first time, making it the ninth Indian PSU firm to achieve this feat. 

RVNL: The railway stock has surged over 59% in January so far after a 10.5% rise in December. It has gained over 317% in the last 1 year. The stock hit its record high of <span class='webrupee'>₹</span>345.50 on January 23, 2024, and has skyrocketed 516% from its 52-week low of <span class='webrupee'>₹</span>56.05, hit on March 1, 2023. Rail Vikas Nigam Limited engages in the construction of rail infrastructure projects in India. It undertakes rail project development and implementation, as well as provides financial resource mobilization services. Recently, REC signed a Memorandum of Understanding (MoU) with RVNL to extend financial support of up to <span class='webrupee'>₹</span>35,000 crore for infrastructure projects over the next five years. 

4/6RVNL: The railway stock has surged over 59% in January so far after a 10.5% rise in December. It has gained over 317% in the last 1 year. The stock hit its record high of ₹345.50 on January 23, 2024, and has skyrocketed 516% from its 52-week low of ₹56.05, hit on March 1, 2023. Rail Vikas Nigam Limited engages in the construction of rail infrastructure projects in India. It undertakes rail project development and implementation, as well as provides financial resource mobilization services. Recently, REC signed a Memorandum of Understanding (MoU) with RVNL to extend financial support of up to ₹35,000 crore for infrastructure projects over the next five years. 

Oracle Financial Services: The stock has jumped over 54% in January so far after a 5% rise in December and a  3.4% gain in November. In the last 1 year, the stock has given multibagger returns, surging over 120%. The stock hit its record high of <span class='webrupee'>₹</span>7,173.40 on January 19, 2024, and has soared 138% from its 52-week low of <span class='webrupee'>₹</span>3,012.25, hit on Feb 1, 2023. Oracle Financial Services Software Limited, together with its subsidiaries, provides information technology (IT) solutions and business processing services to the financial services industry worldwide. In Q3FY24, the firm posted a 69.4% year-on-year (YoY) jump in net profit at <span class='webrupee'>₹</span>740.8 crore versus <span class='webrupee'>₹</span>437.3 crore in the same quarter the previous year. Its revenue from operations also grew 26 percent in Q3FY24 to <span class='webrupee'>₹</span>1823.6 crore as against <span class='webrupee'>₹</span>1449.2 crore in the corresponding period of the preceding fiscal. 

5/6Oracle Financial Services: The stock has jumped over 54% in January so far after a 5% rise in December and a  3.4% gain in November. In the last 1 year, the stock has given multibagger returns, surging over 120%. The stock hit its record high of ₹7,173.40 on January 19, 2024, and has soared 138% from its 52-week low of ₹3,012.25, hit on Feb 1, 2023. Oracle Financial Services Software Limited, together with its subsidiaries, provides information technology (IT) solutions and business processing services to the financial services industry worldwide. In Q3FY24, the firm posted a 69.4% year-on-year (YoY) jump in net profit at ₹740.8 crore versus ₹437.3 crore in the same quarter the previous year. Its revenue from operations also grew 26 percent in Q3FY24 to ₹1823.6 crore as against ₹1449.2 crore in the corresponding period of the preceding fiscal. 

Kamdhenu: The stock has jumped gained 55% in January so far after a 27% rise in December. In the last 1 year, the stock has advanced 40.5%. The stock hit its record high of <span class='webrupee'>₹</span>620.05 on January 23, 2024, and has soared 138% from its 52-week low of <span class='webrupee'>₹</span>259.95, hit on Oct 26, 2023. Kamdhenu Limited is an India-based company, which is involved in the manufacturing, marketing, branding, and distribution of thermo mechanically treated (TMT) bars, structural steel, paints, and allied products under the brand name KAMDHENU. (Pixabay)

6/6Kamdhenu: The stock has jumped gained 55% in January so far after a 27% rise in December. In the last 1 year, the stock has advanced 40.5%. The stock hit its record high of ₹620.05 on January 23, 2024, and has soared 138% from its 52-week low of ₹259.95, hit on Oct 26, 2023. Kamdhenu Limited is an India-based company, which is involved in the manufacturing, marketing, branding, and distribution of thermo mechanically treated (TMT) bars, structural steel, paints, and allied products under the brand name KAMDHENU. (Pixabay)

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