Momentum Stocks Today: GE Vernova TD, Welspun Corp Reach Highs; IIFL Finance, Tree House Decline
Sagar Patel
- 2 min read
Last Updated: 23rd April 2026 - 12:26 pm
Summary:
The shares of some firms, namely GE Vernova TD, Welspun Corp, and Hitachi Energy, reached their 52-week highs on April 23, whereas IIFL Finance and Tree House breached crucial levels, pointing towards varied momentum on the back of price action.
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Market activity was mainly driven by momentum for some selected stocks, wherein stocks like GE Vernova TD, Welspun Corp, HEG, and Hitachi Energy witnessed fresh 52-week highs, while IIFL Finance and Tree House broke down below important levels, as per market data.
Invest in Indian Markets and Unlock Future Potential With 5paisa!Stocks Hitting Fresh Highs
A group of stocks recorded new 52-week highs during the session, reflecting sustained buying interest despite limited broader market triggers.The companies that witnessed an increase were GE Vernova TD, Welspun Corp, HEG, and Hitachi Energy, all of which were backed by robust demand.
There was also movement towards the upper circuits, which were recorded for several other firms such as Mask Investment, Shyam Telecom, and Websol Energy.
Technical Breakouts In Select Stocks
Technical breakouts were observed in some stocks by their prices rising above the respective moving averages. For instance, Dr Reddy’s Laboratories was trading above the 30-day, 50-day, and 200-day moving averages. Cipla closed at a 2% increase at ₹12.74, breaking out above its short-term moving averages. On the other hand, Camlin Fine Sciences recorded an increase of around 1% at ₹117.65, trading above its 30-day moving average.
In addition, Lupin closed at 1.7% higher at ₹2,352.60. Oil India and Canara HSBC were trading close to their short-term moving averages.
Stocks Showing Weak Momentum
The downside is that certain equities made negative breakouts by crossing below the critical support level. Tree House slipped over 2% to close at ₹7.94, trading below the 30-day and 50-day moving averages.
Similarly, IIFL Finance slumped 2.09% to ₹452.75, declining below multiple important moving averages. This suggests the stock was under selling pressure.
This shows how stocks did on April 23, when investors were affected by momentum factors because there weren't any big market triggers.
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