Experiencing serious bouts of volatility amid the Covid 19 pandemic, even as Indian indices retreated substantially on global market rout, it overcome all the losses and in fact is charting its way to new life time highs every other day. This is even as the coronavirus situation continues to worsen across the globe including India with the national capital Delhi said to be witnessing the third wave. Primarily, earlier the record gains were seen in the run up to the US Presidential elections and lately they have been spurred by optimism around Covid 19 vaccine.
And in the process some 18 stocks from the BSE 500 pack have more than doubled investors' fortunes in 2020 so far. While during the same period Nifty and Sensex logged gains of 5.7% and 6%, respectively.
Here are the stocks and the gains made so far on them:
The textile manufacturing firm made whopping gains of over 620% so far in 2020 with the stock price last quoting at Rs. 22 as against last December price of Rs. 3.
Adani Green Energy:
The renewable energy company is also the world's leading solar company globally. The company on record gains of more than 580% so far has also become the first Adani Group company to hit a market cap of over 1 trillion mark. The company's price changed from Rs. 166 in December to Rs. 1134.5 currently.
This pharma stock also made stellar gains of 293 percent so far. Amid the pandemic, the company's standalone sales during the quarter ended September of FY21 grew almost 60 percent year on year to Rs 1,127 crore. Net profit rose 299 percent to Rs 237 crore. Management of the firm is highly optimistic on not only sustaining such profits but also of improving it going forward. The company's shares last quoted at Rs. 282.85, while its price on December 31 was at Rs. 71.95.
Other stocks in the list which gained between 200-215 percent include Alkyl Amines and Granule India. And other scrips that are up 100-200 percent are Dixon Technologies, Birlasoft, Navin Fluorine, Birlasoft, Vaibhav Global, Tata Communications, IndiaMart, Escorts, Deepak Nitrite, JB Chemicals, Adani Gas, India Cements and Advance Enzyme
In its recent report, Morgan Stanley said that we are in a bull market that began in March and "Even though one should expect corrections along the way, the equity market may have more legs before it tops out," it said in a recent report.
"COVID-19 infections appear to have peaked, high-frequency growth indicators are coming in strong, government policy action is beating expectations, and Indian companies are picking up activity through the pandemic. Thus, we expect growth to surprise on the upside," it adds.