The NSE Nifty 50 index has gained for the fourth straight quarter, despite high levels of volatility amid rising bond yields in the U.S. and profit booking at higher levels.
The 50-stock gauge rose 5% during the quarter ended March even after falling from its peak of 15,431 on Feb. 16. It gained 19.8%, 9.2% and 24.3% in the preceding three quarters.
As many as 37 of the index's constituents returned gains to investors during the period. Tata Motors Ltd., Grasim Industries Ltd. and Adani Ports & SEZ Ltd. were the top three gainers, while Dr Reddy's Laboratories Ltd., Maruti Suzuki India Ltd. and Kotak Mahindra Bank Ltd. were the top laggards.
Here's a closer look at the gainers and losers during the quarter:
Tata Motors
The carmaker was the top performer on the Nifty 50 index during the quarter gone by, ending with gains of 64%—most of which came in January and February. The stock rose 43% and 23% in the last two months, respectively, to a 52-week high of Rs 357 on March 3.
This was the company's best quarterly performance since the quarter ended September 2009, during which the stock doubled, gaining 103%.
Shareholder approval to hive off its passenger vehicle business, deleveraging focus for its U.K. arm, Jaguar Land Rover and optimistic commentary kept investors interested.
As many as 19 of the 35 analysts that track the stock have a ‘Buy' recommendation, with six saying ‘Hold' and 10 recommending ‘Sell'. The stock, based on 12-month Bloomberg consensus data, has a return potential of 6.8%.
