TTML, Trident, JK Tyre among top 20 Indian stock market gainers

Indian equity benchmarks ended higher on May 21, 2025, as strong buying in midcap and smallcap counters propelled broader market indices to outperform the Nifty 50 and Sensex. The day’s top 20 gainers list was dominated by companies across telecom, textiles, infrastructure, and chemical sectors, highlighting a clear rotation into value and cyclical stocks. Tata Teleservices (Maharashtra) Limited (TTML) emerged as the top performer, locking in a 19.99% upper circuit gain, while Trident, JK Tyre, and Q Power also delivered double-digit returns.

This rally coincides with a pickup in institutional flows, cooling inflation expectations, and anticipation of capex-linked budget announcements following the general elections. As foreign institutional investors (FIIs) return to Indian markets with a more risk-on approach, retail participation in small-cap counters surged, reinforcing market momentum.

Why Did TTML Surge Nearly 20%?

TTML surged to ₹69.87, up 19.99%, on massive volumes exceeding 10.59 crore shares. The rally came despite no formal disclosure, but analysts suggest speculative positioning around its enterprise cloud communications division. TTML has long been favoured by retail traders on Indian stock forums, with buzz growing around potential integration of digital offerings within the broader Tata Group ecosystem.

The stock’s surge may also reflect heightened sentiment surrounding India’s B2B telecom SaaS play and its potential alignment with Tata Communications’ pan-enterprise services strategy. Analysts advise caution, noting that the surge was primarily volume-driven, and long-term fundamentals remain under pressure.

Trident Rallies on Textile Optimism and Input Cost Tailwinds

Trident Limited jumped 13.51% to ₹33.45 on strong volumes of 6.59 crore shares. The company, known for its home textiles and paper businesses, benefited from renewed optimism in global textile demand and tailwinds from falling cotton and chemical costs. As supply chains continue to normalise post-pandemic, Indian textile exports are seeing new order inflows from Europe and North America.

Traders attributed today’s rally to anticipation of Q1 FY26 margin improvements and positioning ahead of the monsoon season, which typically bolsters domestic consumption of home textiles. Trident is also viewed as a potential PLI beneficiary, which has further strengthened its mid-term outlook.

JK Tyre Extends Rally After Strong Earnings, FII Interest

JK Tyre & Industries Ltd surged 10.39% to ₹384.05 as auto ancillaries continued to attract institutional buying. The stock gained after a strong Q4 FY25 earnings report and guidance that pointed to robust domestic and export demand. Falling rubber prices, stabilised freight costs, and OEM demand in both PV and CV segments have improved the outlook for tyre manufacturers.

Brokerage data suggests increased FII inflows into JK Tyre post-results, with some large domestic funds also raising exposure. The company is expected to benefit from continued highway infrastructure spending and electric vehicle (EV) demand in commercial fleets.

What Drove Q Power and Ecosmobility to Double-Digit Gains?

Q Power rose 13.12% to ₹409.00, with over 52 lakh shares traded, fuelled by optimism in India’s power generation sector. Anticipation of renewable energy expansion in the Union Budget and strong results from sector peers may have contributed to the momentum. The company, active in thermal and solar, is positioned to benefit from round-the-clock hybrid energy demand.

Ecosmobility Solutions Ltd climbed 13.21% to ₹272.10. The smart urban mobility firm has become a retail investor favourite amid rising interest in electrification and transport-as-a-service models. While the company remains in its early-stage growth phase, traders are betting on government-led incentives to support such business models.

AB Infrabuild and Ram Ratna Ride Infrastructure Wave

AB Infrabuild Ltd gained 20% to ₹133.51 on over 11 lakh shares traded, as civil engineering stocks moved in tandem with expectations of capex continuity post-elections. The infra EPC firm is speculated to be in the running for new metro and rail infrastructure bids, aided by its track record in urban projects.

Ram Ratna Wires Ltd added 12.20% to close at ₹654.30. The company, a key supplier of copper winding wires, is seen as a proxy beneficiary of industrial growth in defence, energy, and electrical equipment. Analysts have flagged the stock as undervalued relative to peers like Polycab and KEI.

Dredging Corporation Jumps on PSU Asset Optimism

Dredging Corporation of India gained 10.19% to ₹746.95, riding the tailwind of increasing activity in maritime logistics and PSU-focused investor bets. Recent Cabinet approvals for new coastal connectivity and port modernisation initiatives have revived sentiment around public-sector shipping and dredging players.

The company is also being speculated as a monetisation candidate under the National Monetisation Pipeline (NMP), which could unlock value for minority shareholders.

Smaller Caps Like Zee Learn, Atlas Cycles, AksharChem Rally

Zee Learn Ltd climbed 10.17% to ₹8.99, likely driven by retail trading activity in penny stocks and expectations of a potential business restructuring or resolution of its financial liabilities. The education sector is also seeing renewed investor interest post-COVID, especially around digital-first platforms.

Atlas Cycles Ltd added 10% to ₹116.85. Despite its inactive operations, forum chatter around revival proposals or land monetisation prospects continues to drive interest.

AksharChem (India) Ltd rose 11.23% to ₹281.00, reflecting strength in the dyes and pigment intermediate space. Traders expect price tailwinds from China’s output constraints to support realisations in the June quarter.

A2Z Infra, Banco India, SECMARK, Exxaro Join Gainers’ Pack

A2Z Infra Engineering Ltd moved up 9.94% to ₹15.49, supported by speculative buying in smart grid, EPC, and power infra-linked stocks. Banco Products India Ltd rose 9.58% to ₹564.00 on the back of auto parts demand from CV players and strong traction in its gasket and cooling solutions.

SECMARK Consultancy Ltd gained 10% to ₹150.41, amid low float trading and generalised buying in fintech-support service providers.

Exxaro Tiles Ltd rose 9.58% to ₹6.98, supported by renewed construction activity as pre-monsoon projects pick up pace. Retail traders continue to rotate into low-cost ceramic tile makers expecting housing demand support.

Broader Market Context: Midcaps Outperform as FIIs Return

FIIs were net buyers to the tune of ₹2,356 crore on May 21, while DIIs added ₹1,129 crore, indicating coordinated buying interest. The Nifty Midcap 150 and Nifty Smallcap 250 indices outperformed benchmarks, reflecting deeper market breadth.

Lower-than-expected April WPI inflation and hopes of fiscal discipline post-elections are helping ease macro concerns. The rupee remained steady at 82.61 against the U.S. dollar, while Brent crude stayed below $83 per barrel, providing relief to import-heavy sectors.

Investor Sentiment and Outlook

Investor sentiment remains positive heading into the final weeks of Q1 FY26, with anticipation of a pro-growth Union Budget driving re-rating in sectors like infra, power, textiles, and chemicals. While valuations in some smallcaps are beginning to look stretched, rotational sector interest and retail forum activity continue to fuel short-term momentum.

Analysts expect stock-specific action to continue as Q1 earnings pre-announcements and policy cues trickle in.