Check out the top 10 best-performing stocks of June 18, 2024, in the stock market
The Indian stock market has been vibrant, reflecting the country’s economic growth and the strong performance of various sectors. On June 18, 2024, several stocks outperformed the market, driven by favorable industry trends, solid financial results, and strategic initiatives. Here are the top 10 best performing stocks of the day:
1. Garden Reach Shipbuilders & Engineers Ltd (GRSE)
Sector: Engineering Heavy
Last Traded Price (LTP): ₹1,847.55
Change: ₹217.55
% Change: 13.35%
Garden Reach Shipbuilders & Engineers Ltd (GRSE) led the market with a significant rise of 13.35%. It is one of the 10 best performing stocks. The company has been benefiting from robust order books, government defense initiatives, and modernization projects. Increased defense spending and GRSE’s strategic partnerships have contributed to its stellar performance.
2. Fertilizers and Chemicals Travancore Ltd (FACT)
Sector: Fertilizers
Last Traded Price (LTP): ₹866.80
Change: ₹86.90
% Change: 11.14%
Fertilizers and Chemicals Travancore Ltd (FACT) saw a substantial increase of 11.14%. The rising demand for fertilizers due to favorable agricultural policies and the government’s focus on boosting the agricultural sector have been key drivers for FACT’s growth.
3. MMTC Ltd
Sector: Trading
Last Traded Price (LTP): ₹83.83
Change: ₹7.58
% Change: 9.94%
MMTC Ltd, a prominent trading company, experienced a 9.94% rise. It is one of the 10 best performing stocks. The company’s strategic diversification into new markets and products, along with favorable trade policies, has bolstered its performance.
4. Cochin Shipyard Ltd
Sector: Ship Building
Last Traded Price (LTP): ₹2,320.80
Change: ₹198.45
% Change: 9.35%
Cochin Shipyard Ltd surged by 9.35%, driven by increased demand for shipbuilding and repair services. Government contracts and private sector orders have significantly boosted its order book, leading to strong financial results.
5. Metro Brands Ltd
Sector: Footwear
Last Traded Price (LTP): ₹1,252.75
Change: ₹102.55
% Change: 8.92%
Metro Brands Ltd saw an 8.92% increase. The company’s focus on expanding its retail footprint and growing demand for branded footwear in India have fueled its growth. Effective marketing strategies and product diversification have also contributed.
6. Schneider Electric Infrastructure Ltd
Sector: Power Generation & Distribution
Last Traded Price (LTP): ₹882.30
Change: ₹72.20
% Change: 8.91%
Schneider Electric Infrastructure Ltd. experienced an 8.91% rise. The company’s growing focus on renewable energy and smart grid solutions has positively impacted it, and investments in infrastructure and energy-efficient technologies have further strengthened its market position.
7. Ramkrishna Forgings Ltd
Sector: Castings & Forgings
Last Traded Price (LTP): ₹809.30
Change: ₹64.15
% Change: 8.61%
Ramkrishna Forgings Ltd climbed by 8.61%, supported by solid demand from the automotive and industrial sectors. The company’s strategic investments in capacity expansion and technological advancements have enhanced its production capabilities and market reach.
8. Asahi India Glass Ltd
Sector: Glass & Glass Products
Last Traded Price (LTP): ₹669.55
Change: ₹49.45
% Change: 7.97%
Asahi India Glass Ltd. increased by 7.97% and is one of the 10 best performing stocks. The company benefits from rising demand in the construction and automotive sectors. Innovations in glass products and expansion into new markets have also contributed to its positive performance.
9. Mazagon Dock Shipbuilders Ltd
Sector: Ship Building
Last Traded Price (LTP): ₹4,178.25
Change: ₹300.70
% Change: 7.75%
Mazagon Dock Shipbuilders Ltd saw a 7.75% rise. Strong government support for naval modernization and defense manufacturing has boosted the company’s prospects. Its robust order pipeline and timely project execution have also driven investor confidence.
10. Avanti Feeds Ltd
Sector: Aquaculture
Last Traded Price (LTP): ₹639.75
Change: ₹44.95
% Change: 7.56%
Avanti Feeds Ltd rose by 7.56%. The company’s focus on expanding its product range and enhancing feed quality has led to increased market share in the aquaculture industry. Export demand and favorable domestic market conditions have further supported its growth.
Conclusion
The top-performing stocks on June 18, 2024, reflect a diverse range of sectors, highlighting the breadth and depth of opportunities in the Indian stock market. From engineering and fertilizers to shipbuilding and aquaculture, these companies have demonstrated strong financial performance and strategic growth initiatives. Investors looking for promising investment opportunities should consider these stocks, keeping in mind the underlying factors driving their success and future potential.3
