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Shares of around three dozen companies which are part of the BSE 500 index— accounting for 92 per cent of India’s market capitalisation— have more than doubled this year. Nearly a third of them are financial companies but not banks—non-banking financial companies, or NBFCs in market parlance.
Buoyancy in lending decline in credit costs along with superior performance of other verticals such as broking, asset reconstruction (ARC), wealth management contributed to stellar run in these stocks.
Among the best-gainer is Indiabulls Ventures, which has gained 12 times. The company, originally into online trading business has forayed into consumer lending, triggering a
