2024’s Top Nifty Gainers Shine Bright Amid Market Challenges

In 2024, India’s stock market faced ups and downs. The Nifty index hit a record high of 26,277 in September but then dropped due to various factors. These included the Indian general elections, changes in yen carry trade, China’s stimulus measures, and the potential return of Donald Trump to the White House.

Top Gainers:

1. Trent: This Tata Group retail company doubled its stock price again. Its strong financial performance, retail growth, and scaling up of the Star business boosted its value. Trent joined the Nifty 50 index in September.
2. M&M (Mahindra & Mahindra): The automaker’s stock gained 76% this year. Its success came from its push into electric vehicles and a growing share in the SUV market. The launch of the Thar Roxx and the “Born Electric” SUV line added to its success.
3. Bharat Electronics: This defense sector company saw a 58% gain. Strong government spending on defense and large order inflows helped it grow.
4. Bharti Airtel: The telecom giant gained 54%, marking its best performance since 2017. It managed this despite challenges like a legal battle over a 2019 penalty.
5. Sun Pharma: The pharmaceutical company gained 47%, thanks to its strong presence in the high-margin specialty segment.

Top Laggards:

1. IndusInd Bank: The bank faced difficulties and underperformed in the market.
2. Asian Paints: The paint company also struggled and was among the laggards.

These companies either navigated the market challenges well or faced difficulties.