The Nifty 50 has remained under sustained pressure, declining for eight consecutive weeks as concerns over earnings, foreign fund outflows and broader market uncertainty weighed on investor sentiment. Yet, some stocks have managed to buck the broader downtrend. Five stocks including Kotak Mahindra Bank, Adani Ports, Eternal, Dr. Reddy's Laboratories and Coal India, have delivered positive returns over the past two months even as the benchmark index declined 8.5%.
Kotak Mahindra Bank led the gains with a 4.5% rise, followed by Adani Ports and Eternal, which gained 3% and 2.5%, respectively. Dr. Reddy's Laboratories and Coal India advanced 2.5% and 2%.
Kotak Mahindra Bank
Kotak Mahindra Bank has gained 4.5% over the past two months, supported by strong operating performance and expectations around its new leadership. The bank reported a 26% increase in profit after tax in the first quarter, while net interest income rose 9%. The appointment of a new CEO has emerged as another key trigger for the stock.
Going ahead, the bank is expected to deliver above-system loan growth while maintaining stable margins. Analysts remain positive on the outlook, with 37 buy calls and an average return potential of 13%.
Adani Ports
Adani Ports has gained 3% during the period, with strong operational performance providing support to the stock. The company reported record second-quarter fiscal 2027 throughput of 142.3 million tonnes, marking 15% growth over the year-ago period.
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Capacity additions are expected to support further growth in container volumes, keeping operational expansion as a key driver for the company.
The stock has 24 buy calls, with analysts seeing an average return potential of 14.2%.
Eternal
Eternal has delivered a 2.5% gain over the past two months, with investors gaining greater visibility into the company's long-term earnings potential. The key trigger has been increased visibility into its $1 billion fiscal 2029 Ebitda guidance. Investors are also closely tracking signs of market share gains in the food delivery business.
The stock has received 31 buy calls, with analysts indicating an average return potential of 15.3%, the highest among the five stocks.
Dr. Reddy's Laboratories
Dr. Reddy's Laboratories has gained 2.5% despite the broader weakness in the market. The management has reiterated its expectation of a 20% margin for the base business, providing visibility on profitability. Going ahead, contributions from semaglutide and abatacept are expected to support margins, with the potential to take them towards 25%.
The stock has 17 buy calls and an average return potential of 5.8%.
Coal India
Coal India has also managed to remain in positive territory, gaining 2% over the past two months. The company reported a 12.5% year-on-year increase in September sales volume to 61.2 million tonnes, indicating healthy demand and operational momentum. For fiscal 2027, management has targeted coal offtake of 850 million tonnes. Progress towards this target will remain a key factor for the stock's performance.
Coal India has 17 buy calls, with analysts seeing an average return potential of 10.2%.
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