11 stocks that doubled during Nifty’s rally from Mt 10,000 to Mt 11,000

The bulls are roaring on Dalal Street. The Nifty50 index of NSE hit the psychologically important 11,000 mark for the first time on Tuesday. It took around six months for the index to cover the 1,000 points from the 10,000 mark it had hit on July 25, 2017.

Market experts attribute the rally to firm global cues and sustained liquidity in the domestic market.

“I am not really surprised when the Nifty touches 11,000 or maybe 12,000 after sometime,” said Porinju Veliyath of Equity Intelligence India.

In an interaction with ET Now, he said this is a natural sequence of events happening in the country, something very different that we have seen since we got Independence 70 years ago. “We are into a very different kind of growth orbit as an economy and as a nation,” he said.

More than 10 per cent of stocks in the Nifty500 index soared over 50 per cent between July 25, 2017 and January 22, 2018.

Two stocks stole the show during this period: Cement stock Rain Industries surged 240 per cent from Rs 127.20 to Rs 431.90 while distilleries company Radico Khaitan rallied 201 per cent, climbing from Rs 129.40 to Rs 389.60.

Other stocks that more than doubled investor wealth since July 25 last year included Bombay Dyeing (up 199 per cent), PC Jeweller (up 131 per cent), Gujarat Alkalies (up 126 per cent) and Kolte Patil (up 122 per cent).

Jai Corp (up 121 per cent), Vakrangee (up 116 per cent), Delta Corp (up 108 per cent), VIP IndustriesBSE 0.08 % (up 106 per cent) and IFB Industries (up 100 per cent) also delivered handsome returns to investors in this period.

Among others, Jindal Steel, TV Today, Bombay Burmah, Sterlite Tech, DCM Shriram, Swan Energy and Divi’s Labs climbed between 60 per cent and 90 per cent between July 25 last year and January 22 this year.

Among the not-so-happy stocks, shares of Religare Enterprises, Bombay RayonBSE -3.71 %, Kwality, HDIL, Shree RenukaBSE -0.32 % Sugar, JBF Industries, Strides ShasunBSE 5.54 %, Corporation Bank and Dena BankBSE 2.12 % tumbled between 25 per cent and 47 per cent in this period.

The 30-share benchmark BSE Sensex breezed past the 36,000 level for the first time ever on Tuesday. The index took only five sessions to rally 1,000 points from sub-35,000 level to top the 36,000 mark.

The bull run continues in the Indian equity market. The turnaround in industrial and economic growth in October 2017 along with big policy announcements related to bank recapitalisation and Bharatmala led to a good run in October, 2017, says Deepak Jasani, Head- Retail Research, HDFC Securities.

“In January 2018, we saw FIIs return to the buy side in a big way after a break. The forthcoming Union Budget could aid in determining the future direction of markets from here on,” he said.

[“Source-economictimes”]