20 stocks soar up to 20% in a day—Here’s what propelled the Indian markets skyward

What drove India’s top-performing stocks to rally on April 22, 2025?

India’s stock markets continued their upward momentum on April 22, 2025, defying global macroeconomic unease as investors focused on domestic fundamentals and sector-specific tailwinds. The benchmark indices extended gains for the sixth consecutive session, supported by widespread optimism in manufacturing, infrastructure, energy, and consumer-linked sectors. The Nifty 50 advanced to 24,167.25 and the BSE Sensex ended at 79,595.59, with both indices maintaining a positive trajectory despite mixed cues from overseas markets.

The standout performance, however, was recorded among mid-cap and small-cap stocks, particularly the 20 top gainers, each of which posted double-digit intraday returns. The rally reflected renewed institutional interest, improved earnings sentiment, and a strong rotation into industrial and consumption themes that are expected to outperform in the current fiscal.

Which stocks led the gainers on April 22, and why?

Manaksia Steels Ltd. emerged as the session’s top performer, with its stock surging 20% to ₹60.18. The jump followed optimism around rising steel demand and a broader re-rating of low-debt, high-capacity metal producers amid government-led infrastructure acceleration. Agritech Ltd. followed with a matching 20% gain to ₹172.89. Seasonal monsoon indicators have improved, reviving investor interest in agri-input and mechanisation plays, especially as the sector eyes expanded subsidies and policy incentives.

Councodos India Ltd., closing at ₹7.56 after a 20% gain, rallied on speculative momentum and technical breakout signals, though fundamentals remain thin. Rajratan Global Wire Ltd. gained 19.99%, ending at ₹390.15, as the wire manufacturer rode the coattails of an automotive rebound and increasing EV-related demand for its bead wire products. Kohinoor Foods Ltd. also saw a 19.99% jump, closing at ₹43.21, with rice exporters benefiting from international procurement orders amidst continued food inflation.

Andhra Pradesh Cement Works Ltd. rose 19.99% to ₹138.10, as cement manufacturers anticipate higher capacity utilization driven by real estate and road-building activity in the upcoming quarters. Similarly, Vaswani Industries Ltd. gained 19.98%, closing at ₹46.90. This diversified player in steel and energy benefited from momentum in the manufacturing index and expectations of higher raw material pricing power.

Indowind Energy Ltd. closed 19.98% higher at ₹21.68, driven by tailwinds in the renewable energy space, particularly as India’s energy transition policy gains ground. The company, which focuses on wind energy generation, saw its volumes spike as institutional participation rose in green energy plays.

Rishabh Instruments Ltd. rallied 18.83% to ₹289.00. The company, which manufactures precision instruments and meters, has gained traction from rising capex in utilities and smart grid digitisation projects across India and Southeast Asia. Alok Industries Ltd., a Reliance Group company, surged 17.43% to ₹19.34, backed by record volumes exceeding 16 crore shares. The stock benefited from bullish sentiment in textiles, with export demand returning and a broader realignment in synthetic fibre supply chains.

Sambhaav Media Ltd. rose 15.5% to ₹8.12 as investors sought value in regional content plays. The stock, often driven by retail flows, benefitted from projections of higher digital advertising revenue in tier-2 markets. Atam Valves Ltd. gained 15.15% to ₹111.79 after news reports of supply deals for industrial fluid management projects triggered fresh buying.

Technocraft Industries Ltd., a global exporter of engineering products, climbed 13.55% to ₹295.89 amid rising demand for scaffolding and drum closures in Europe and the US. Xelpmoc Design and Tech Ltd. saw a similar 13.55% uptick to ₹121.64. The tech services firm benefited from buzz around AI integrations and possible tech partnerships, even as analysts remain cautious on the company’s cash flows.

Ravi Kumar Distilleries Ltd. jumped 12.57% to ₹31.88, supported by strong volume activity on expectations of operational restart and positive state regulatory news. Emil Pharmaceuticals Ltd. rose 12.28% to ₹151.30 as it capitalised on new contracts in active pharmaceutical ingredient (API) outsourcing and contract research.

Indian Card Clothing Company Ltd. moved 12.21% higher to ₹283.50, riding renewed interest in textile machinery upgrades as India’s spinning sector expands to meet rising international demand. Banco Products India Ltd. added 12.05% to ₹404.15. The company, known for engine cooling and sealing systems, is widely expected to benefit from automotive export demand.

RattanIndia Power Ltd. rose 10.82% to ₹11.68 on the back of higher power demand in peak season and market expectations of revised tariff benefits for private thermal players. Carysil Ltd. closed 10.79% higher at ₹682.00. As a premium kitchen solutions provider, the company continues to gain from India’s ongoing urban housing growth, with investors betting on its export potential in Europe post tariff changes.

What macroeconomic trends supported Indian stocks on April 22?

India’s domestic stock market strength came against a backdrop of cautious global macroeconomic conditions. Despite trade-related uncertainties sparked by recent U.S. tariff escalations and Chinese yuan depreciation, Indian equities have managed to attract foreign inflows selectively, particularly in domestic consumption and infrastructure-linked themes.

The Reserve Bank of India’s liquidity infusion policies, aimed at easing wholesale deposit pressure and enhancing capital adequacy flexibility, also played a critical role in stabilising financial markets. These structural measures are helping maintain credit flow to productive sectors despite tight global monetary conditions.

Additionally, India’s inclusion in JP Morgan’s government bond index and stable inflation expectations have bolstered investor sentiment in equity and debt markets alike. The IMF recently trimmed India’s growth forecast for FY26 to 6.2%, yet the country remains the fastest-expanding major economy, which continues to attract institutional interest.

How is investor sentiment evolving amidst mixed signals?

The rally in the Indian stock market today underscores the dichotomy between cautious global outlooks and resilient domestic optimism. Investors are increasingly aligning their portfolios toward companies with strong bottom-line visibility, balance sheet strength, and exposure to India-centric growth drivers.

The top business stories of the day now revolve around India’s ability to sustain growth while navigating complex external dynamics. Institutional flows remain selective but are favouring sectors with high operating leverage and defensible market positions. Retail investors, meanwhile, continue to play a dominant role in driving mid-cap and micro-cap momentum.

As the market digests Q4 earnings and prepares for macro data on inflation and GDP growth, the latest stock market news indicates a shift towards cyclical sectors, where pricing power and demand visibility remain firm.