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FY24 turns equity investors richer by Rs 129 lakh crore; these stocks rally up to 2,700%

FY24 turns equity investors richer by Rs 129 lakh crore; these stocks rally up to 2,700%

A total of 859 stocks on the BSE more than doubled investors’ money during the year gone by. With a rally of 2618%, Archana Software emerged as the top gainer in the list. It was followed by Jai Balaji Industries (up 1,932%), SG Mart (up 1,811%) Advance Technologies (up 1753%) and Prime Industries (up 1,703%).

Rahul Oberoi
Rahul Oberoi
  • Updated Mar 29, 2024 1:01 PM IST
FY24 turns equity investors richer by Rs 129 lakh crore; these stocks rally up to 2,700%FY24 turns equity investors richer by Rs 129 lakh crore; these stocks rally up to 2,700%

Investors on Dalal Street became wealthier by Rs 128.77 lakh crore in the financial year 2024 as the market capitalisation of BSE-listed firms increased to Rs 386.97 lakh crore on March 28, 2024 from Rs 258.19 lakh crore on March 31, 2023.

Analysts believe that robust inflows by domestic and foreign institutional investors and strong corporate earnings supported the market.

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A total of 859 stocks on the BSE more than doubled investors’ money during the year gone by. With a rally of 2618%, Archana Software emerged as the top gainer in the list. It was followed by Jai Balaji Industries (up 1,932%), SG Mart (up 1,811%) Advance Technologies (up 1753%) and Prime Industries (up 1,703%).

Integrated Industries, Frontier Capital, Insolation Energy, Innovative Ideals and Services (India), Dhruva Capital Services and Rajnish Retail also rallied more than 1000% during the past 12 months. The benchmark equity index BSE Sensex gained 25% during the year, while the broader indices the BSE Midcap and BSE Smallcap rallied 63% and 60%, respectively, in FY24.

Sharing his advice to investors for FY25, Arvinder Singh Nanda, Senior Vice President, Master Capital Services said, “Investors should stay invested in high-quality stocks with good balance sheets and typically with market leaders. One should book profits in stocks that have performed well and are trading at higher valuations than the historical averages.”

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He added that the market’s long-term outlook remains unchanged, owing to a slew of favourable fundamentals such as strong FPI inflows, lowering commodity prices, a pick-up in credit growth, healthy bank balance sheets and the capex resurgence.

“For fiscal year 2025, India stands firm as an attractive hub for investments. A confluence of factors, such as robust economic expansion, potential reductions in interest rates and consistent market valuations, bolster this perspective. In the short term, there could be some volatility, especially in an election year. However, investors should view this as an investment opportunity. We are bullish on PSU, renewable energy and healthcare, each presenting compelling growth prospects,” Nanda said.

In the large cap space, Tata Motors gained the most 136%. NTPC, Larsen & Toubro, Mahindra & Mahindra, Sun Pharmaceutical Industries, Bharti Airtel, Power Grid Corporation of India, Maruti Suzuki India and Titan Company also increased by somewhere between 50% and 92% in the past one year.

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Commenting on the large cap space, Gurpreet Sidana, CEO, Religare Broking said, “At present, many large cap companies are trading at an attractive valuation as compared to midcap and small cap, which gives comfort for investment. At the same time, they have good corporate governance, better financials and steady growth prospects ahead. We would thus advise accumulating the quality names from across sectors during the corrective phase.”

“In the run-up to general elections and the beginning of Q4 earnings, we suggest preferring a mix of large cap and large midcap stocks as that would aid in balance in the investor’s portfolio. A few names that can be included in the buying lists are Kotak Mahindra Bank and Shriram Finance from banking and finance, TCS and HCL Technologies from the IT sector, Maruti Suzuki and Eicher Motors from automobile, ITC and HUL from FMCG, Asian Paints from paints, UltraTech and Dalmia Bharat from cement space,” Sidana said.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Mar 29, 2024 1:01 PM IST
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