Gainers & Losers: Here Are The Top Ten Stocks With The Most Accruals

The index hit a new high on the third consecutive day, rising for eight consecutive days on November 11, supported by the pharmaceuticals, metals, and auto names. At the close, Sensex rose 316.02 points, or 0.73%, to 43,593.67, while Nifty rose 118.10 points, or 0.93%, to 12,749.20. 

Here are the top ten stocks with the most accruals:

1. Pfizer | Current Market Price: Rs 5,205 | Due to some optimism about vaccine development, the index once again hit a record high in November. The stock rose more than 2% after the company announced that its COVID-19 vaccine is more than 87% effective in preventing infection.

Pfizer said that early observations of its vaccine data indicate that the shots of vaccines may be effective in preventing 90% of COVID-19, which indicates that the company has submitted an emergency use application to US regulators later this month.

2. Hindalco Industries | CMP: Rs 207.80 | After CLSA retained its purchase target of 270 rupees per share, the stock price rose 8%. The company’s operating income for the quarter from July to September increased to Rs 31,237 crore from Rs 29,657 crores.

3. Bata India | CMP: Rs 1,328 | After the company reported a loss in the quarter ended September 2020, the stock price fell more than 2%. The company reported a loss of 4.43 billion rupees in the second quarter of FY21 and a profit of 7.13 billion rupees, but its revenue fell to 367.9 crore rupees from 722 crores.

4. KPIT Tech | CMP: Rs 97.30 | The company’s share price rose more than 3% after a large deal from the BMW Group. KPIT Tech announced that it has signed a large-scale order with the BMW Group. Series orders are scattered for several years. The company stated in an exchange document that the combined powertrain coordination unit is designed to power the next-generation power electronic architecture of BMW Electric Vehicles (BEV) and involves software development, integration, and maintenance.

5. Motherson Sumi Systems | CMP: Rs 131.60 | The stock rose by 3% after Japanese brokerage firm Nomura maintained a buy rating on the stock with a target price of 162 rupees per share. Macquarie Group maintains an outperform rating on the stock with a target price of 124 rupees per share. CLSA also retained the stock’s outperform rating with a target price of Rs 140 per share.

6. Godrej Industries | CMP: Rs 379.85 | The stock price closed in the green on November 11. The company’s net profit for the second quarter fell 44.8% year-on-year to Rs 205.3 crore, compared with Rs 372.2 crore. According to reports, its revenue dropped by 9.2% to 23.863 billion rupees, compared with 26.287 billion rupees.

7. Bharat Forge | CMP: Rs 499 | The company announced a consolidated net loss of Rs 1,302 crore, while a profit of Rs 2,054 crore (year-on-year). Therefore, the company’s stock fell 4%. Consolidated revenue fell by 36.2% to 13.76 billion rupees, compared to 215.252 billion rupees (YoY). Consolidated EBITDA fell by 50.2% to Rs 166.2 crore, compared to Rs 334 crore (YoY). The consolidated EBITDA margin was 12.1%, compared with 15.5% YoY.

8. GPT Infra | CMP: Rs 28.90 | The stock rose by 6% after the company bagged an order worth Rs 2.45 crore from the Northern Central Railway, Jhansi, Uttar Pradesh, to build a bridge on Yamuna River for a single line over substructure for double line, including protection works & earthwork in connection with Khairar-Bhimsen doubling.

9. State Bank of India | CMP: Rs 234.30 | After the board of directors approved the divestiture of more than 8.5% of UTI Trustee Company, the stock rose by more than one percent. State Bank of India said in a regulatory filing: The Executive Committee of the Central Board of State Bank of India approved the withdrawal of 8,510 shares, representing 8.5% of UTI Trustee Company Pvt Ltd’s shares held by the bank.

10. YES Bank | CMP: Rs 14.15 | According to the reports of inclusion in the MSCI India index, the stock price has increased by 5%. In addition to this, CARE ratings also revised the rating on private lender YES bank’s debt instruments. The rating agency has also revised the bank’s infrastructure bond rating from the previous ‘CARE B’ to ‘CARE BBB’.

The market is bullish and gaining momentum. Traders can consider regularly scheduled profits, or they can update their stop-loss levels. We have strong support at 12450-12500. Whenever there is an intraday drop or corrective phase, it is recommended to adopt a buy on dips strategy. Manish Hathiramani, a proprietary index trader and technical analyst at Deen Dayal Investments, said the target of 13000-13100 over a period of time is likely.

With the exception of the Nifty PSU Bank index, other metal and pharma-led sector indices grew above every 3%.