Top 3 Performing Stocks of the Week: Here’s Why They Outperformed

The week was marked by a continuous rise in the Nifty, with prices reaching new highs throughout. However, traders encountered difficulties trading within the major indices due to slow intraday movements. On Friday, Nifty opened on a positive note but lacked consistent buying momentum, staying within a tight 50-point range and ending with a 0.29% gain, just above 23450. Over the week, the Nifty added 0.75% to its value.

Overall, the trading activity for the key indices was rather dull, as shown by the daily chart which depicted a series of small-body candles indicating a phase of bullish exhaustion and time-wise correction.

Despite the sluggish performance of the key indices, the mid-cap and small-cap sectors showed remarkable strength, significantly outperforming. Notably, 52 stocks from the Nifty500 index saw double-digit gains, representing over 10% of the stocks. 

Here are the top performers for the week:

1. Chemplast Sanmar Ltd

The share price of Chemplast Sanmar rose nearly 27%, reaching a new 52-week high on Friday. For the week, the stock recorded its highest trading volume since 2021. Chemplast Sanmar, a leading manufacturer of specialty chemicals such as Specialty Paste PVC resin and Custom Manufactured Chemicals for the agrochemical, pharmaceutical, and fine chemicals sectors, faced significant challenges in FY24 due to an influx of low-priced imports. Despite a slight decline in Paste PVC import volumes compared to FY23, domestic prices remained under pressure from cheaper imports from the EU, China, Malaysia, and Thailand. Nonetheless, Chemplast Sanmar is expected to see a turnaround in FY25, driven by positive developments in its polyvinyl chloride (PVC) business.

2. Home First Finance Company

Home First Finance Company India (HFFC), a housing finance firm providing home loans, saw its stock rise by 26.4% during the week. Housing finance stocks surged after the first Cabinet meeting of the Modi 3.0 government on Monday approved assistance to construct 3 crore additional rural and urban houses under the Pradhan Mantri Awas Yojana (PMAY). This decision aims to meet the housing needs arising from the increased number of eligible families.

3. Titagarh Rail Systems

The share price of Titagarh Rail Systems increased by 22.5% over the week. Titagarh Rail Systems, a leading Indian rolling stock manufacturer, has started producing trainsets under a contract with China Railway Rolling Stock Corporation (CRRC) for the Phase 2 Yellow Line project of Bangalore Metro Rail Corporation Limited (BMRCL). This milestone highlights Titagarh’s significant contribution to India’s urban transportation infrastructure.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.