As the results season comes to an end, we take a look at stocks that declined sharply from their year highs, but recovered in the past month post results. The screener identifies stocks that have a distance of more than 30% from their 52-week highs, but saw recent monthly gains. 

Oil India rose by 10% over the past month after falling for four months, while its industry,  Exploration & Production, grew by 11.5% in the same period. HDFC Securities credits increase in crude oil and domestic gas price realisations for the growth. The company beat the brokerage’s estimates for revenue, EBITDA and net profit, owing to lower-than-expected statutory levies and higher other income. The stock is currently trading at a distance of 33% from its 52-week high.

Larsen & Toubro Infotech rose 9.1% over the past month after briefly falling for a month, outperforming the IT Consulting & Software industry by 1.8 percentage points. According to ICICI Securities, the company’s strong performance in the market is backed by a large and higher-tenure deal pipeline, and strong outlook for the core vertical of banking, financial services and insurance. The stock is trading at a distance of 32.9% below its 52-week high.

Biocon rose 8.7% over the past month after falling for five consecutive months. It outperformed the Biotechnology industry by 90 bps. According to Axis Securities, the company has seen its market share for drugs like glargine and trastuzumab grow in the US market. The stock is trading at a distance of 30.8% below its 52-week high.

Coforge rose 6.3% over the past month after falling for five consecutive months. It underperformed the IT Consulting & Software industry by 4.6 percentage points. Motilal Oswal believes that the company is well-positioned to achieve its strong revenue growth guidance in FY23 with the help of strong order intake, recovery in the travel industry, continued growth momentum, and new client additions. The stock is trading at a distance of 35.2% below its 52-week high.