Shakti Pumps, Waaree Renewable, VA Tech Wabag enter billion dollar m-cap club in 2024

Even as the rupee dropped to an all-time low of 85.24 a dollar level, there are still 617 listed companies on BSE with a market capitalisation of over billion dollar (Rs 8,524 crore) today. This is up 119 over 498 in 2023, if the same exchange rate (85.24 a dollar) is applied to the previous year.

The 2024 list includes companies such as Hyundai Motor India Ltd, Swiggy Ltd, NTPC Green Energy Ltd and Inventurus Knowledge Solutions Ltd, which made their market debuts during the calendar year. Excluding recent stock debutants, the billion dollar list still stands at impressive 574, up 76 YoY, data compiled from corporate database AceEquity suggests.

Shakti Pumps (India) Ltd now commands m-cap of Rs 12,156.90 crore ($1.43 billion), as the stock climbed 494 per cent in 2024 to Rs 1,011.30 apiece against Rs 170.18 per share at 2023 end. Transformers & Rectifiers (India) Ltd shares rallied 360 per cent to Rs 1,067.25 from Rs 231.90, with its m-cap rising to Rs 16,017.60 crore ($1.88 billion) from Rs 3,306.06 crore at 2023 end.

PG Electroplast Ltd, Garware Hi-Tech Films Ltd, PC Jeweller Ltd, Piccadily Agro Industries Ltd and Wockhardt Ltd saw their shares rallying 250-307 per cent and commanded m-cap of $1.15-$3.21 billion.

Sebi in fact suspended trading in Bharat Global Developers amid concerns over the company’s financial disclosures. This stock soared 2,166 per cent in 2024 and commanded m-cap of Rs 12,520.24 crore. It last traded on December 20.

In 2025, maintaining a well-diversified portfolio with a long-term perspective will be essential for navigating market uncertainties, said Ajit Mishra - SVP, Research, Religare Broking Ltd.

Mishra in a BT Markets survey on 2025 strategy said stock investors should carefully align their portfolio with their financial goals, risk tolerance, and time horizon. "With geopolitical and economic risks expected to significantly influence the Indian stock market in the coming year, a cautious approach is advisable," he said.

Mishra said prioritising diversification and increasing exposure to defensive sectors can help mitigate risks and safeguard investments during periods of heightened uncertainty.

Shares of Waaree Renewables Technologies Ltd soared 228 per cent while those of Zen Technologies Ltd and KFin Technologies Ltd climbed 228 per cent and 206 per cent, respectively. They command $1.59-2.98 billion.

Thanks to Rs 150-176 per cent rally, Ganesh Housing Corporation Ltd, JSW Holdings Ltd, Time Technoplast Ltd, Neuland Laboratories Ltd, Kirloskar Pneumatic Company Ltd, VA Tech Wabag Ltd and Orchid Pharma Ltd entered the billion dollar club.

Azad Engineering Ltd, Prudent Corporate Advisory Services Ltd, Tips Music Ltd, IIFL Capital Services Ltd, Choice International Ltd, Netweb Technologies India Ltd, Nava Ltd, Kirloskar Brothers Ltd and Black Box Ltd are other additions to the billion dollar club. These scrips also gain multibagger returns during the year.