Year Ender: Here Are The Top 5 Stocks Which Ruled The Dalal Street In 2023

In 2023, the Indian markets weathered a stormy ride, grappling with global headwinds such as higher US bond yields and the Hindenburg report on Adani. The specter of a Middle East war added to the uncertainty. Despite these hurdles, the Sensex soared past 70,000, and the Nifty crossed an impressive 21,000, showcasing the resilience and strength of the Indian markets, which defied expectations to reach record highs.

On a year-to-date basis, while Sensex reached the 71,900 mark, Nifty was inches away from reaching the 21,600 level mark. However, the smallcap and midcap indices remained the crown jewels in the investor's portfolio on Dalal Street. Nifty 100, on the other hand, has given a year-to-date return of around 17 per cent. Here is a list of the top 5 performers (data has been extracted based on the Nifty 100 index as of December 15) of the Dalal Street.

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1. Trent

Tata Group's retail arm, Trent, experienced a remarkable upswing in its share price of more than 122 per cent. The financial strength was evident as Trent Ltd. reported a consolidated net profit of Rs 234.73 crore for the September quarter of FY24, showcasing a robust increase from the previous fiscal year.

Despite a somewhat subdued rural demand initially, the overall domestic demand stayed resilient, buoyed by festive fervor. However, the looming specter of inflation, while significant, has managed to stay below the RBI's upper limit.

"Trent Limited, a leading Indian retailer, is rapidly growing, fueled by Zudio, which contributes 40 per cent to total revenues. Planning to add around 290 stores between Zudio and Westside in FY2024-25, Trent Limited showcases a robust expansion strategy. With consistent revenue and margin growth, the company looks fundamentally strong for the medium to long term," said Swapnil Shah, Director-Research, StoxBox.

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2. Hindustan Aeronautics Ltd.

A multibagger PSU, this defense company's share has achieved a robust triple-digit return of 117 per cent. Despite a minor uptick in quarterly profits, the company's order book exceeded Rs. 80,000 crores, offering a clear outlook on revenue visibility.

The upswing in the company's stock value can also be attributed to the acquisition approval granted by the Defence Acquisition Council (DAC).

The approval greenlights the company's upcoming acquisition in military aviation, focusing on Light Combat Helicopters (LCH) and Light Combat Aircraft (LCA) segments. This move enhanced the company's defense sector standing which eventually contributed to heightened investor confidence.

"HAL has proven its technological capabilities by developing Tejas, AMCA, etc, and it has recently signed an MoU to supply light & medium utility helicopters to Argentina’s military, and has advanced leads with Philippines and Egypt. Therefore, we see strong future growth prospects for HAL," said Dinesh Gupta - Fund Manager, Torus Oro PMS.

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