20 Stocks To Add To Your Watchlist Today: 11th September 2024

The Sensex and Nifty rose for the second straight day on Tuesday amidst the growing market momentum owing to the anticipated US inflation data. IT and pharma stocks drove the surge. Nifty IT stocks jumped 5%, fueled by hopes of a rate cut in the US, while pharma stocks gained after a tax cut in the US again on certain cancer drugs. This positive sentiment pushed the indices higher, with the Sensex closing at 81,912 and Nifty back above 25,000, closing at 25,041. The growing market also lifted a few other stocks, making them top performers for the day. 

As the market opens at 9:00 AM today, we present 20 stocks to consider adding to your watchlist. Here are ten stocks with the highest trading volume and ten stocks based on their performance at yesterday’s market close. 

Top 10 performers from NIFTY 500 today

Sno	Symbol	CMP	Performance
1	PRSMJOHNSN	208.80	20.00 %
2	SUMICHEM	611.50	14.99 %
3	ALLCARGO	71.34	8.98 %
4	AETHER	1062.00	8.98 %
5	GLS	1294.75	7.45 %
6	LINDEINDIA	7905.00	7.17 %
7	JUBLINGREA	750.40	6.86 %
8	LATENTVIEW	495.10	6.76 %
9	TATAPOWER	445.60	6.64 %
10	HSCL	564.00	6.36 %

Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. Past performance is not indicative of future results.

Understanding the Top 5 Performing Stocks Today

Prism Johnson Limited.:

Prism Johnson Limited is a mid-cap cement company founded in 1992. It’s one of India’s largest building materials firms, offering cement, concrete, tiles, and bath products. The company has 10 subsidiaries and 9 joint ventures, including Raheja QBE General Insurance Company Limited, a joint venture with QBE Insurance from Australia. In FY2024, it bought a 50% stake in Sunbath Sanitary Pvt Ltd, which makes sanitary ware in Gujarat. For FY2024, Prism Johnson’s revenue was Rs.7,175 crores (+5.1%), with a PAT of Rs.202 crores and a net worth of Rs.1,583 crores. Its Return on Capital Employed rose from 0.6% to 5.3%. For the June 2024 quarter, however, revenue was Rs.1,777.14 crores, 9.17% from Rs.1,956.60 crore in June 2023. 

Sumitomo Chemical India Ltd.:

Sumitomo Chemical India Ltd. (SCIL) stands out in agrochemicals, animal nutrition, and environmental health. Its Japanese parent company, Sumitomo Chemical Company, strongly supports it. SCIL offers a well-rounded range of technical and formulation products, some of which are in-house.

The integration of Excel Crop Care enhanced its generics and specialty products, boosting its position in India’s crop protection market. SCIL is also active globally, including in Africa. In FY2024, SCIL acquired a majority stake in Barrix Agro Sciences, known for pheromones. For FY2024, SCIL reported a revenue of Rs.2,843.9 crore, a PAT of Rs.369.7 crore, and an ROCE of 20.8%.

Allcargo Logistics Limited:

Incorporated in 1993, Allcargo Logistics offers comprehensive logistics solutions, including multimodal transport, inland container depots, container freight stations, contract logistics, and project solutions. It’s a global leader in LCL consolidation and India’s largest integrated logistics provider. In December 2023, the company approved a restructuring plan to be completed by March 2025.

This plan separates its international supply chain business from its express and contract logistics operations, forming an independent entity. Allcargo Logistics now holds a 50.2% stake in Allcargo Gati Ltd, 30% in GESCPL (formerly Gati KWE), and a 100% stake in Allcargo Supply Chain. For the June 2024 quarter, the company reported revenue of Rs.3,813 Cr, a 12% increase QoQ, with a PAT of Rs.4.3 Cr and a PAT margin of 0.1%. 

Aether Industries Ltd.:

Aether Industries Limited, based in Surat, Gujarat, was founded in 2013 and specializes in making specialty chemicals. It provides advanced pharmaceutical, agrochemical, and oil and gas intermediates. From FY 2018 to FY 2024, the company grew at a CAGR of 28.74%.

Thanks to its R&D and pilot plant facilities, Aether is also notable in CRAMS (Contract Research and Manufacturing Services). It joined the UN Global Compact Network India and earned a Silver EcoVadis Medal. It went public with an IPO in June 2022. For FY 2024, Aether reported a total income of Rs.637.38 crore and a net profit of Rs.82.49 crore, down 37% from FY 2023. 

Glenmark Life Sciences Limited:

Glenmark Life Sciences Limited is a top player in creating and making Active Pharmaceutical Ingredients (APIs). It focuses on research and innovation, with an R&D budget of Rs.75.3 crore for FY2024. Glenmark offers 142 APIs to over 700 pharmaceutical companies worldwide.

For FY2024, the company’s revenue rose by 5.6% to Rs.2283.2 crore, and its profit after tax was Rs.470.9 crore, reflecting a PAT margin of 20.6%. As of 10th September 2024, its stock had a PE ratio of 33.04, lower than the sector’s 49.62. The company’s revenue CAGR over the past three years was 6.8%. 

Top 10 volume gainers stocks from NIFTY 500 today

Sno	Symbol	Volume	Volume Change %
1	PRSMJOHNSN	45167258	1398.03 %
2	SUMICHEM	9638799	1196.96 %
3	AETHER	1551299	623.42 %
4	ITI	5407496	611.44 %
5	ALLCARGO	25402832	581.88 %
6	ATUL	279597	398.76 %
7	DIVISLAB	1628691	289.16 %
8	TATAPOWER	39706164	287.45 %
9	PRINCEPIPE	992408	274.61 %
10	CENTURYTEX	1481966	268.92 %

(source: NSE on 10th September 2024)

Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. Past performance is not indicative of future results.

Understanding the stocks of the list:

ITI Ltd.:

ITI Limited, the country’s first PSU post-independence, is a leading telecom manufacturer. It makes trades and services telecom equipment, focusing on telephone communication. In FY2023, ITI Limited signed an MOU with C-DOT to transfer technology for 4G radios and secured a Rs.2,421.49 crore order from BSNL for indigenous 4G technology.

For FY2024, ITI Limited bagged a Rs.300 crore order for solar street light systems in Bihar under the Mukhyamantri Gramin Solar Street Light Yojana and its first Electronic Voting Machine (EVM) order from West Bengal’s State Election Commission for 500 sets. As of the June 2024 quarter, it reported revenue of Rs.519.98 crore and faced a loss of Rs.91.08 crore. However, the net figure improved from the previous year’s Rs.102.6 crore loss. 

Atul Limited:

Atul Ltd., part of the Lalbhai Group from Gujarat, is a major Indian chemical company. Founded in 1947 by Kasturbhai Lalbhai as Atul Products Ltd, it became Atul Ltd in 1996. Initially B2B, it now also offers B2C products. The company’s offerings span Life Science Chemicals and Performance Chemicals across nine businesses.

It has introduced many firsts in India, including VAT dyes and crop care chemicals. As of FY2024, Atul Ltd. manufactures 900 products and 400 formulations and owns 140 brands, reaching 88 countries. Its financials for FY2024 include a revenue of Rs.4,726 crore, a Rs.20 dividend per share, a net worth of Rs.5,089 crore, a PAT of Rs.385 crore, and a RoCE of 12.52%. 

Tata Power Ltd.:

Tata Power Company Ltd is a major player in generating, transmitting, and distributing electricity. It has been India’s top solar rooftop EPC company for nine years. It aims to switch entirely to renewable energy and plans to set up 1 lakh EV charging stations by 2025. As India’s largest vertically integrated power company, it has a renewable energy capacity of 4,524 MW and a conventional energy capacity of 10,183 MW as of FY2024.

Tata Power also secured two transmission projects worth Rs.2,300 crore in the same year. In FY2024, its revenue grew 10% to Rs.61,542 crore, PAT increased by 12% to Rs.4,280 crore, and it declared a dividend of Rs.2 per share.

Prince Pipes and Fittings Limited:

Prince Pipes and Fittings Limited, established in 1987, began with PVC products and now makes polymer piping solutions in CPVC, UPVC, HDPE, and PPR. It holds around 5% of the PVC pipes market and ranks among the top six in the pipes and fittings industry.

Supported by 10 warehouses and over 1500 channel partners across India, its product range includes over 7200 items. As of the June 2024 quarter, the finished goods sales volume rose by 14% YoY to 42,180 MT, up from 37,155 MT in Q1FY24. Revenue increased by 9% YoY to Rs.604 crore, compared to Rs.554 crore in Q1FY24. The PAT improved by 25% YoY to Rs.25 crore from Rs.20 crore in Q1FY24.

Century Textiles and Industries Ltd.:

Century Textiles and Industries Ltd has grown from a single-unit textile company in 1987 to a major player in various industries. Today, it’s a leader in cotton textiles and makes a mark in Pulp, Paper, and Real Estate.  In the June 2024 quarter, its Net Sales reached Rs.1,149.24 crore, a 2.86% increase from Rs.1,117.33 crore in June 2023. Quarterly Net Profit soared to Rs 7.78 crore, up 232.31% from Rs 5.88 crore a year earlier.

Additionally, in September 2024, the company issued a corporate guarantee of Rs.400 crore to Hindalco Industries. This guarantee supports Ekamaya Properties’ acquisition of a land parcel in Kalwa, Thane. 

While the short-term NIFTY trend reversed and markets turned volatile amidst the positives, the FIIs maintained a neutral stance towards the market. The current landscape does pose numerous opportunities. However, it is advisable to approach and conclude your investment decisions with caution. 

Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as a recommendation or investment advice by Equentis – Research & Ranking. We will not be liable for any losses that may occur. Investments in the securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL & the certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.