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11 stocks soared 1000-1800% during three years of Modi government

LiveMint logoLiveMint 17-05-2017 Nasrin Sultana

Mumbai: Indian stock markets have rallied massively in the last three years of National Democratic Alliance (NDA) government led by Prime Minister Narendra Modi with 11 stocks gaining a huge 1000-1800% in the period.

Economic reforms like goods and services tax (GST) and hopes of political stability drove market participation, boosting confidence of domestic and foreign investors.

Though worries around demonetisation which banned high-value notes dented sentiment, market momentum picked up especially after Bharatiya Janata Party’s (BJP) win in Uttar Pradesh elections. March quarter earnings have also shown fading effects of the note ban announced on 8 November last year.

Riding on Modi euphoria and positive sentiment, the Sensex jumped 26.78% while the Nifty was up 32.06% in three years ended 16 May 2017. NDA won the general elections on 16 May 2014. In the three-year period, BSE Midcap jumped 94.19%, while BSE Smallcap gained 95.77%.

Among BSE 500 stocks, 11 stocks have gained 1000-1800%, while around 200 stocks have gained over 100-1000% in these three years.

Indo Count Industries Ltd (up 1810.32%), Caplin Point Laboratories Ltd (1343.98%), Minda Industries Ltd (1293.49%), 8K Miles Software Services Ltd (1262.25%), Can Fin Homes Ltd (1161.10%), ITD Cementation India Ltd (1126.61%), Force Motors Ltd (1095.30%), TVS Srichakra Ltd (1083.37%), Gayatri Projects Ltd (1043.51%), KPR Mill Ltd (1041.35%) and Aegis Logistics Ltd (1038.43%) were the top gainers in the three-year period.

There are over 200 stocks which have gained over 100-1000% in three years. Avanti Feeds Ltd (995.29%), Motilal Oswal Financial Services Ltd (740.95%), SpiceJet (692.64%), Bajaj Finance Ltd (661.28%), Escorts Ltd (457.85%), Future Consumer Ltd (392.39%), Eicher Motors Ltd (360.44%), TVS Motors Ltd (359.31%), Hindustan Petroleum Corp. Ltd (300.73%) and Yes Bank Ltd (172.64%) are some of them.

However, around 57 stocks have fallen 1-81%. Heavyweights including Tata Motors (down 1.74%), Tech Mahindra (2.6%), IDBI Bank Ltd (3.5%), Punjab National Bank (4.84%), Tata Power (7.4%), Coal India Ltd (20.38%), Steel Authority of India Ltd (21.18%), Oil India Ltd (23.63%), Bharat Heavy Electricals Ltd (25.65%), Oil & Natural Gas Corp. Ltd (27.87%), Bank of India (33.15%), Idea Cellular Ltd (38.24%), UCO Bank (59.30%), Amtek Auto (78.34%) and Jaiprakash Associates Ltd (81.68%) were major laggards in the three years of NDA rule.

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