Finolex Cables, Wockhardt, Paytm: Top five Nifty500 stocks that outperformed index this week; check list

Top five Nifty 500 stocks, namely One 97 Communications (Paytm), Wockhardt, Finolex Cables, Pine Labs and Jubilant Pharmova, have outperformed the benchmark index in the week ended Friday, September 11, with major support from buying momentum powered by equity investors in the market.

Data collected from the NSE website showed that the Nifty 500 index has lost more than 1.6% of its value this week, due to massive selling pressure from investors as crude oil prices hit $110 per barrel, consistent FII outflows, and the elevated tensions in West Asia.

On Friday’s market, Nifty 500 lost 0.37% or 85.85 points to end at 22,866.50 points, in comparison to 22,952.35 points at the previous equity market close, according to the exchange data.

The benchmark NIFTY50 index lost 2% in the week ended September 11, closing 0.34% lower at 23,398.10 points after the trading session on Friday.

List of five stocks outperforming Nifty 500

One 97 Communications

NSE data showed that One 97 Communications, or Paytm, shares have outperformed the benchmark Nifty 500 index, gaining nearly 9% in the last five trading sessions.

Paytm’s stock ended nearly 4% higher at ₹1,807.50 apiece after the trading session on September 11, in comparison to ₹1,739 apiece at the previous market close, as per the exchange data.

Latest updates showed that global investment firm Bernstein projected a positive outlook for the company, highlighting that they expect meaningful operating leverage from Paytm’s existing business.

Bernstein analysts also predict that the company's introduction of merchant discount rate (MDR) on UPI could provide meaningful upside to the company’s profitability, along with the merchant lending business to provide a long growth runway.

Media reports suggest that Paytm is expected to start selling artificial intelligence agents to enterprise customers amid rising demand for the same, which can handle a variety of workloads and tasks with minimal supervision.

Wockhardt

Shares of Wockhardt have risen 4.3% this week on NSE, surpassing the benchmark Nifty 500 returns in the same period, according to the exchange data.

As of the stock market close on Friday, pharmaceutical company Wockhardt shares closed 1.8% lower at ₹2,179.40 apiece, in comparison to ₹2,220.60 apiece at the previous equity market session.

The company’s market capitalisation (m-cap) was at ₹35,410 crore as of the stock market close on September 11.

Investors continued to remain focused on the company’s growth potential with its Zaynich drug, an Indian research pharmaceutical product which is approved by the US FDA. Media reports suggest that the company is expected to launch the drug commercially by the end of this year or early next year.

Finolex Cables

Finolex Cables’ stock price has gained more than 17% in the week ended September 11, outperforming the returns delivered to investors by the Nifty 500 index in the same period, according to NSE data.

On Friday, shares of Finolex Cables surged to end 0.39% higher at ₹1,424 apiece, compared to ₹1,418.40 apiece at the previous equity market close, as per the exchange data.

The company’s market cap was at ₹21,871 crore as of the stock market close on Friday.

Analysts from global investment firm Jefferies said that the company’s stock has potential for further positive re-rating supported by healthy cables and wires demand and growth in the optical fibre cable (OFC) business.

Meanwhile, the electricals segment for Finolex remains the company’s key business, along with solar and extra-high-voltage (EHV) cables, which are expected to provide additional growth momentum for the earnings.

However, key risks for the company remain a slowdown in demand and volatility in copper and optical fibre prices.

Pine Labs

NSE data showed that Pine Labs shares have risen 19.5% this week, surpassing the returns delivered to investors by the benchmark Nifty 500 index in the same period.

On September 11, Pine Labs' share price ended 16.75% higher at ₹202.17 apiece as of the stock market close, in comparison to ₹173.17 apiece at the previous equity market close, as per the exchange data.

The company’s trading volumes surged above 291 million equity shares across NSE and BSE combined, triggering the high-volume gains during the trading session.

Earlier this month, the company appointed Jayaram Karthik as its Chief Operations Officer, who will lead operations and merchant experiences across India and International markets, building technology-enabled operating models that deliver seamless, trusted, and locally relevant journeys across the group.

Jubilant Pharmova

Shares of Jubilant Pharmova successfully outperformed the Nifty 500 index, rising 10.8% in the week ended Friday, September 11, with strong buying momentum from equity market investors.

As of the stock market close on Friday, Jubilant Pharmova shares ended near-flat levels, 0.04% lower at ₹1,025.20 apiece in comparison to ₹1,025.65 apiece at the previous equity market close.

Trading volumes of the stock surged past 290K during the trading session across both NSE and BSE combined. The pharmaceutical company’s market capitalisation (m-cap) was at ₹16,327 crore as of the market close on September 11.

Jubilant Pharmova shares witnessed buying momentum this week as investors focused on domestic defensive sector bets like healthcare and pharma stocks in comparison to high-growth sectors like IT and banking amid weak global market cues.

How did these stocks perform on Friday?