The Brexit voting took place on June 23 and global markets panicked, following a Brexit on June 24. However, they have recovered since and some stocks have even jumped 50-60 per cent. Here are stocks that beat the Brexit blues by a huge margin.
On June 24, the stock of Jaiprakash Associates was quoted at Rs 7. The stock has jumped to Rs 11.25, signifying a jump of more than 50 per cent. This was largely on the sales of its cement plant to Ultratech.
Oriental Bank of Commerce
Oriental Bank of Commerce, hit a low of Rs 93 on June 24. It has now rallied to Rs 118, a cool jump of more than 20 per cent, since the Brexit.
PSU banks have been rallying on hopes of an improvement in asset quality and rate cut hopes.
Punjab National Bank
A day on which the Brexit was announced Punjab National Bank hit a low of Rs 93. It has since rallied to Rs 117. Once again cool gains in excess of 20 per cent.
Bank of India
PSU banking stocks have been on a roll, following the Rajan exit. The belief is that the new governor would ease NPA norms and also cut interest rates. Bank of India has rallied from low levels of Rs 89.60 to Rs 108, since the Brexit.
Vedanta has jumped from a low of Rs 111 on June 24 to the current market price of Rs 143. A superb returns of more than 20 per cent, since hitting June 24 lows.
Syndicate Bank is another government bank that has been on a roll since June 24.
The stock has rallied from low levels of Rs 67 since June 24 to the current levels of Rs 79. Again a government owned bank.
It is rarely a cement stock jumps so much. But, India Cements is on the list which has given 20 per cent returns in just three weeks following the Brexit. The stock has jumped from Rs 91 to Rs 116.