As people became more and more dependent on technology amid the Covid lockdowns across the world, technology services companies grabbed the opportunity with both hands. Adoption of some tech services grew manifold, working wonders for them.
Beyond technology firms, companies from e-commerce, logistics, power, kitchen appliances, agrochemicals and pharma made the most of the pandemic and the resultant constraints.
Here are 10 stocks that saw a huge change in fortunes as the pandemic turned things upside down:
Tanla Platforms: The technology services company reinvigorated itself with a new strategy and use of blockchain and emerged top pick on Dalal Street. The stock grew nearly 2,100 per cent in the last one year, thanks to a surge in the use of telecommunication.
Intellect Design Arena: The company builds products for the entire banking domain, including corporate banks, NBFCs, central banks, retail banks, wealth managers and insurance companies. A surge in financialisation increased the needs of its services, helping it swell bottom line as well as story price in 2020. The stock shot up nearly 1,300 per cent in the last one year.
McLeod Russel: Despite the Covid-19 pandemic that created a demand-supply mismatch, the bulk tea industry witnessed a sharp rise in both consumption as well as prices of tea. Whatever the reason, this helped McLeod Russel, one of the largest tea growers in the world. The stock skyrocketed nearly 1,000 per cent during the year.
CG Power: Fortunes turned for this troubled power firm after Tube Investments invested hundreds of crores of rupees in the last one year to fund its expenses in a year when power consumption saw steady growth leading to the need of more equipment. As a result, the company’s shares climbed nearly 950 per cent from a new low it has hit earlier in the year.
Borosil Renewables: As the government announced its Atmanirbhar initiative to deal with the Covid fallout, the maker glass for solar panels saw a change in fortunes. As focus is more on cutting imports from China, it is expected to gain further. The stock climbed about 700 per cent in last one year.
Ramco Systems: The company provides technology solutions to manage employees, finances, logistics and warehouses, among other things. With people working from homes, these solutions become imperative for companies to function smoothly. Expectedly, the shares of Ramco rallied 700 per cent.
Balaji Amines: The chemicals maker, whose products are used across industries, including the pharma sector, saw a massive rise in stock prices. The scrip delivered nearly 700 per cent returns for the last one year as demand for excipients from pharma firms grew, meaning more business for Balaji Amines.
Onmobile Global: On an average, youngsters spend nearly six hours on their phones. This time likely grew during the pandemic as no other avenues of entertainment was available. This helped Onmobile, the firm that provides mobile entertainment solutions. Accordingly, its shares surged nearly 625 per cent in last 12 months.
Dixon Tech: The list will be incomplete without Dixon Tech, which saw a massive rise in business after the government increased its focus on making electronic devices in India. Shares of the contract manufacturer catapulted nearly 570 per cent in the last one year as the Atmanirbhar push accelerated its growth.
Butterfly Gandhimathi Appliances: As people were confined to homes, experimentation in the kitchen became more frequent and need of kitchen appliances surged. For the same reason, Butterfly Gandhimathi attracted few value investors during the year. The stock delivered nearly 500 per cent returns for the last one year.