Glenmark Pharma to ACME Solar: 10 stocks that surged over 10% this week despite weak market sentiments

Indian equity markets closed lower this week, with the NIFTY50 finishing just under 25,200 and the SENSEX closed around 82,500. Both benchmark indices closed over 1% lower respectively. Sentiment turned risk-averse following US President Donald Trump’s surprise announcement of 50% tariffs on copper imports and Brazilian goods, effective August 1. While global equities wavered, attention also shifted to Southeast Asia, as the U.S. struck a 20% tariff deal with Vietnam, signalling that trade negotiations are now tilting toward tighter enforcement and higher duties globally. This amplified global trade uncertainty, which combined with weakness in IT and PSU banks, kept the indices range-bound.

However, specific stocks surged on company-level catalysts, proving that strong fundamentals can outperform even in difficult macro conditions.

Snapshot: Market beaters this week

*Return since IPO listing

Jaiprakash Power Ventures

Jaiprakash Power Ventures saw a sharp surge in stock price after reports of Adani Group emerging as the leading bidder to acquire Jaiprakash Associates. Adani Group has reportedly submitted a ₹12,600 crore bid for the debt-laden company. JP Associates has a 24% stake in Jaiprakash Power Ventures. Experts believe that an acquisition by the Adani Group would be a positive development for the company as it will get the backing of a financially strong and well-managed conglomerate. Other potential bidders reportedly include Vedanta, JSPL, Dalmia Bharat and PNC Infratech

Glenmark Pharmaceuticals

Glenmark jumped after announcing a major global licensing and commercialisation deal with AbbVie for its oncology asset ISB 2001. The strategic alliance gives Glenmark marketing rights in emerging markets, while AbbVie handles North America and Europe. As per reports, Glenmark will get an upfront payment of $700 million and will be eligible to receive up to $1.225 billion in development, regulatory, and commercial milestone payments through its subsidiary, Ichnos Glenmark Innovation (IGI).

ACME Solar Holdings

ACME Solar surged after placing one of India’s largest battery energy storage system orders, totaling 3.1 GWh. This milestone positions ACME as a frontrunner in India's energy transition, strengthening its execution capabilities and long-term growth outlook. Experts believe ACME Solar Holdings is likely to be one of the key beneficiaries if India archives its ambitious 500GW renewable energy target by 2030.

Belrise Industries

Belrise Industries share price rose over 15% this week after the company’s management is optimistic about business growth prospects in both two-wheeler and four-wheeler segments. The company expects revival demand supported by strong monsoons, rising income levels, and recent tax reliefs on personal income. Recently, the company approved a merger with its subsidiary H-One India, simplifying its corporate structure. The restructuring is expected to unlock synergies and improve cost efficiencies, aligning with investor expectations for streamlined operations.

Borosil Renewables

Despite initiating insolvency proceedings for its German subsidiary, Borosil rose on its strategic pivot to India’s booming solar sector. Borosil will no longer account for GMB’s financial losses, which had amounted to approximately ₹ 9 crore per month. With plans to invest ₹950 crore to expand domestic capacity by 60%, the company is aligning itself with favorable anti-dumping regulations and rising demand for solar glass.

Other gainers: VIP, Gabriel, Force Motors, CarTrade Tech, Lemon Tree Hotels

The remaining five names saw gains driven by a mix of operational strength and growth triggers. VIP Industries rebounded on hopes of margin recovery in its travel gear segment. Gabriel India gained after entering into Joint Venture Agreement, between Jinos, JAIPL and Gabriel India for JAIPL to become a joint venture company between Gabriel India and Jinos. Force Motors gained after reporting a 13% YoY rise in June vehicle domestic sales, reflecting strong demand in its commercial and utility vehicle segments.

CarTrade Tech rose after its subsidiary OLX India launched the “Elite Buyer” program—bringing AI and Q-commerce speed to used-goods transactions for over 18 crore users. Meanwhile, Lemon Tree Hotels signed two new property agreements in Maharashtra, extending its asset-light growth strategy in key micro-markets.

Key takeaways

Even in a choppy macro environment, strategic announcements, favourable policies, and tech-led innovation are proving to be key differentiators. Companies aligned with clean energy, digital platforms, and operational restructuring continue to attract investor interest despite broader market weakness.