This 'consensus buy' stock has seen its biggest single-day gain in 17 years

Shares of Zydus Wellness

Ltd. surged as much as 18% on Monday, April 6, bucking the broader market trend, with the Nifty 50 down over 1%, while midcap and smallcap indices traded marginally higher.

This marks the stock's biggest single-day gain in 17 years, last seen in December 2009.



Zydus Wellness is also the top performer on the Nifty 500 index for the day. The stock had earlier recorded a 20% rise on December 1, 2009.

The rally was backed by strong volumes. Over 2 crore shares changed hands during Monday's session, significantly higher than the 20-day average of around 14 lakh shares.

There has been no material announcement from the company to explain the sharp move.

In its December quarter results, Zydus Wellness reported a net loss of ₹40 crore, compared to a net profit of ₹6.4 crore in the year-ago period.

The loss was driven by a sharp rise in expenses, which nearly doubled to ₹1,000 crore from ₹455 crore last year. Advertising and promotion spends nearly tripled, along with a surge in other expenses. The company also reported a one-time impact of ₹6.6 crore due to the new labour code.

Despite the recent weak earnings, sentiment remains positive, with all eight analysts covering the stock maintaining 'buy' ratings.

The stock was trading 17.65% higher at ₹521.25, taking its gains for the year so far to over 12%.