1,130 stocks rally over 100% since May 2014
Force Motors, Indo Count, Minda Ind, Aegis Logistics, ITD Cementation and 8K Miles rally over 1000%
 "1,130 stocks rally over 100% since May 2014")
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The Nifty 50 index and the S&P BSE 500 index hit their respective all-time highs of 9,152.90 and 12,502.52, respectively, on Thursday in early morning trade, extending their gains after Prime Minister Narendra Modi's landslide victory in the Uttar Pradesh.
Meanwhile, US Federal Reserve Chair Janet Yellen on Wednesday made the well-anticipated move of increased rates by 25 bps in its effort to return monetary policy to a more normal footing.
Investors breathed a sigh of relief as Fed signaled no pick-up in the pace of rate hikes. It also stuck to its outlook for two additional rate increases this year and three more in 2018.
“Nifty witness new highs on opening bell as foreign flows continue to be big buyers even as domestic mutual funds book profit. Rupee strength, improving longer term macros and local liquidity, all are seeing re-rating of Indian equities,” IIFL said in a client note.
Since May 16, 2014 following Modi’s sweep in the Lok Sabha elections, the Nifty 50 index had rallied 28%, while S&P BSE 500 index surged 41%. The S&P BSE Smallcap index zoomed 79% during the period.
As many as 1,130 stocks or 47% of the total 2,404 actively traded stocks have become multi-bagger, appreciating more than 100% in less than three years. Of these 50 stocks have zoomed over 1000% from their May 2014 levels. The stocks include Force Motors, Indo Count Industries, Minda Industries, Aegis Logistics, ITD Cementation India and 8K Miles Software Services
India's capital markets have caught the attention of foreign institutional investors or FIIs as well as domestic mutual funds (MF), which made net inflow of more than Rs 2.75 lakh crore.
Since then, MFs have pumped in Rs 1.62 lakh crore, while FIIs made net investments of Rs 1.18 lakh crore into equity market.
Moody's Investors Service says that the 2017 state election results in India (Baa3 positive) demonstrate broad-based popular support for the Indian government's policy agenda and will facilitate the implementation of further reforms, a credit positive for the sovereign.
“The overwhelming mandate received by BJP in the State elections especially Uttar Pradesh and Uttaranchal has paved a path for sustained political stability in the economy along with continuance of the economic policy reforms initiated by the Government,” said Mayuresh Joshi, Fund Manager, Angel Broking.
“Albeit, the strong momentum and liquidity the markets are witnessing is keeping the bourses on a strong footing and as domestic factors start becoming more positive for all the headwinds enumerated above and we have respite from global factors over the next few months, there is a high probability of the markets rerating thereby justifying the premium valuations that the markets are discounting on a forward basis,” added Mayuresh Joshi.
Meanwhile, US Federal Reserve Chair Janet Yellen on Wednesday made the well-anticipated move of increased rates by 25 bps in its effort to return monetary policy to a more normal footing.
Investors breathed a sigh of relief as Fed signaled no pick-up in the pace of rate hikes. It also stuck to its outlook for two additional rate increases this year and three more in 2018.
“Nifty witness new highs on opening bell as foreign flows continue to be big buyers even as domestic mutual funds book profit. Rupee strength, improving longer term macros and local liquidity, all are seeing re-rating of Indian equities,” IIFL said in a client note.
Since May 16, 2014 following Modi’s sweep in the Lok Sabha elections, the Nifty 50 index had rallied 28%, while S&P BSE 500 index surged 41%. The S&P BSE Smallcap index zoomed 79% during the period.
As many as 1,130 stocks or 47% of the total 2,404 actively traded stocks have become multi-bagger, appreciating more than 100% in less than three years. Of these 50 stocks have zoomed over 1000% from their May 2014 levels. The stocks include Force Motors, Indo Count Industries, Minda Industries, Aegis Logistics, ITD Cementation India and 8K Miles Software Services
India's capital markets have caught the attention of foreign institutional investors or FIIs as well as domestic mutual funds (MF), which made net inflow of more than Rs 2.75 lakh crore.
Since then, MFs have pumped in Rs 1.62 lakh crore, while FIIs made net investments of Rs 1.18 lakh crore into equity market.
Moody's Investors Service says that the 2017 state election results in India (Baa3 positive) demonstrate broad-based popular support for the Indian government's policy agenda and will facilitate the implementation of further reforms, a credit positive for the sovereign.
“The overwhelming mandate received by BJP in the State elections especially Uttar Pradesh and Uttaranchal has paved a path for sustained political stability in the economy along with continuance of the economic policy reforms initiated by the Government,” said Mayuresh Joshi, Fund Manager, Angel Broking.
“Albeit, the strong momentum and liquidity the markets are witnessing is keeping the bourses on a strong footing and as domestic factors start becoming more positive for all the headwinds enumerated above and we have respite from global factors over the next few months, there is a high probability of the markets rerating thereby justifying the premium valuations that the markets are discounting on a forward basis,” added Mayuresh Joshi.
| Company | 15/05/2014 | 15/03/2017 | % chg |
| Indo Count Inds. | 11.00 | 189.60 | 1623.6 |
| 8K Miles | 44.53 | 619.55 | 1291.3 |
| Aegis Logistics | 16.78 | 207.45 | 1136.3 |
| ITD Cem | 13.21 | 156.45 | 1084.3 |
| Minda Inds. | 38.40 | 439.30 | 1044.0 |
| Force Motors | 379.80 | 4277.20 | 1026.2 |
| Caplin Point Lab | 34.70 | 375.20 | 981.3 |
| TVS Srichakra | 332.05 | 3320.50 | 900.0 |
| Can Fin Homes | 215.88 | 2096.40 | 871.1 |
| Gayatri Projects | 14.36 | 138.75 | 866.2 |
| KPR Mill | 67.15 | 641.40 | 855.2 |
| Nilkamal | 235.15 | 1950.15 | 729.3 |
| Johnson Controls | 184.25 | 1501.40 | 714.9 |
| Dalmia Bharat | 246.10 | 1899.45 | 671.8 |
| Bombay Burmah | 103.40 | 760.65 | 635.6 |
| GHCL | 38.55 | 271.30 | 603.8 |
| Welspun India | 12.19 | 84.85 | 596.1 |
| Navin Fluo.Intl. | 387.25 | 2618.95 | 576.3 |
| Bajaj Finance | 173.18 | 1134.15 | 554.9 |
| KRBL | 60.05 | 390.00 | 549.5 |
| Price on BSE in Rs | |||
| Top gainers from S&P BSE 500 index | |||
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