Zen Technologies to Mangalore Refinery, here's a list of stocks that gained over 25% in current market rally

NIFTY50 and SENSEX have shown a remarkable recovery from lower levels after falling more than 16% for the record high levels touched in September 2024. The broader NIFTY Midcap 100 and Smallcap 100 indices witnessed immense selling pressure as they declined nearly 28% in the same period. NIFTY50 even turned negative in 2025 after it fell more than 5% in February amid high selling pressure from the FIIs. The damage at the individual portfolio level was even more severe as many stocks fell more than 50% from the record high levels.

However, markets showed signs of bottoming out in the first week of March and consolidated after a minor uptick from lower levels. The recovery gained momentum from 17th March after which the markets posted a sharp rally of nearly 1300 points or 6% on NIFTY50 in six consecutive trading sessions, giving relief to investors and traders. The broader NIFTY Midcap 100 and Smallcap 100 index rallied up to 10% in the same period.

In this recovery rally, 44 out of 50 stocks from the NIFTY50 traded in green on a monthly basis. On a broader market basis, 458 stocks out of NIFTY500 gained during the same period, indicating broader participation and all-round buying at lower levels in the stocks.

Zen Technologies

The smallcap defence company rallied nearly 40% from 3rd March till 24th March 2025. The shares of Zen Technologies gained momentum after Defence Minister Rajnath Singh approved ₹54,000 crore worth of purchases to upgrade the Indian armed forces. The key focus was on supporting domestic manufacturers under the Make in India initiative. Zen Technologies designs, develops and manufactures anti-drone systems, and training simulation equipment and holds a 95% market share in tank simulators.

Avanti Feeds

Shares of leading shrimp and fisheries exporters gained 33% in March outperforming the benchmark NIFTY FMCG index which gained nearly 5% in the same period. The shares came into focus after Union Budget 2025, which saw a 3% extra allocation to ₹2,704 crore. The company reported a nearly 9% increase in its Q3FY25 revenue, a 65% jump in operating profit and a 68% jump in net profit. The shares have gained 85% in the last year amid a sharp turnaround in its financials.

Hindustan Aeronautics

Shares of India’s leading defence player, Hindustan Aeronautics Ltd (HAL) jumped 32% from the recent lows on 03rd March 2025 outperforming the NIFTY India Defence index which rallied 25% in a similar period. The rally was largely driven by buying at lower levels due to attractive valuations. Secondly, an increase in the supply of GE engines could improve the Tejas Mk1A deliveries sooner than expected which led to investor optimism around the stock. Following the news, HAL's share price jumped nearly 20% in six trading sessions, starting from 17th March to 24th March 2025.

Kfin Technologies

Shares of India’s leading RTA ( Registrar and Transfer Agents) and fintech player rallied 26% in March 2025 amid a sharp pullback from lower levels. The shares corrected nearly 50% from the record high levels as relentless selling soured investor sentiments. However, the shares have given 5x returns in the last two years in tandem with its strong growth in financials.

Mangalore Refinery and Petrochemicals

Shares of oil refineries gathered momentum after crude oil prices recovered from lower levels after falling to six-month lows on March 07. The crude oil prices have gained more than 7% amid supply concerns after the Isarel-Gaza war resumed and some OPEC nations pledged to increase output. In the same period, shares of Mangalore Refinery and Petrochemicals jumped nearly 25% from the March lows. Investors turned bullish on the stock as a rise in crude oil prices benefits the refining margins of the oil refinery companies. The company plans to expand its capacity with a capital outlay of ₹5,000 crore over the next five years.

Apart from the above-mentioned stocks, shares of companies like PTC Industries, GRSE, Kirloskar Oil Engines, and Jyoti CNC Automation among others also gained more than 20% from the March lows. Market participants and investors now expect upcoming earnings, potential RBI rate cuts and FII inflows to become major triggers for the coming months.