Zomato, M&M emerge as top Sensex gainers of 2024; IndusInd Bank, Asian Paints top losers
Zomato emerged as the top Sensex gainer after its entry in December this year, while private sector lender IndusInd Bank is the top laggard.
After we ended the year 2024 on a positive note with over 8 per cent return on the BSE 30-share Sensex index in an highly uncertain environment, here are the Sensex stocks that turned out to be winners and losers this year.
Top Sensex gainer in 2024: Zomato
Zomato emerged as the top Sensex gainer moving higher in price by as much as 126.15 per cent at the last count. The stock on the BSE marked a 1-year high of Rs 304.5 per share. Zomato entered the index after replacing JSW Steel on December 23.
Top Sensex gainer in 2024: Mahindra and Mahindra (M&M)
M&M ranks second on the list of top Sensex gainers in 2024. The auto scrip delivered the best yearly return of nearly 74 per cent. The company's auto sales climbed 18.17 per cent in November 2024 in comparison to 96,648 units sold in October.
Top Sensex gainer in 2024: Bharti Airtel
Bharti Airtel is the third top Sensex gainer, having delivered of as much as 54 per cent in 2024. The gains are remarkable and consistent even as the telco major faces risk of market share loss in India mobile business as well as rise in competitive and regulatory intensities.
This remarkable growth comes despite several challenges, including the legal battle over the curative petition filed at the Supreme Court to set aside the penalty and interest imposed in the September 2019 ruling.
Additionally, Bharti Airtel managed to add more subscribers in October, a positive contrast to its competitors, Jio and Vodafone Idea, which faced subscriber losses.
Top Sensex gainer in 2024: Sun Pharmaceuticals
For 2024, the pharma scrip has delivered 50 per cent return, with its 1-year high price at Rs 1,960.35 per share. Overall better product mix with higher domestic sales and specialty business aided margin expansion during the September quarter. The India business continued to deliver volume-driven growth.
On the exports front, the company remains strategically focused on specialty business which is evident from a significant increase in R&D allocation towards specialty from 24 per cent to 38 per cent in H1FY25, added ICICI Direct report.
Top Sensex gainer in 2024: Tech Mahindra
From the IT pack, Tech Mahidra was the top Sensex performer in 2024 with over 34 per cent return even as the near-term outlook for the software services remains uncertain as the Fed recently signalled that it will not go aggressive in its rate-cut cycle. The company's return to growth and better margins are expected to support the overall performance. Also, the company the IT services company is confident about achieving its FY27 plans.
Top Sensex loser in 2024: IndusInd Bank
IndusInd Bank topped the losers list with a drawdown of 40 per cent this year. In Q2, the lender posted subdued performance on the back of sector- specific pressures and slow loan growth.
Geojit, however, noted that it anticipates stable margin performance in the upcoming quarters, underpinned by effective retail deposit mobilisation and diversification from bulk deposits. Looking ahead, retail lending is expected to gain momentum, particularly in vehicle finance, as festive season spending drives demand.
Moreover, credit cost and slippage ratios are likely to remain in check to ensure stable asset quality, it added.
Top Sensex loser in 2024: Asian Paints
Asian Paints has delivered a negative return of 33 per cent in calendar year 2024 amid increasing competition and subdued demand.