INDIA INC. and, indeed, the economy in general weathered the second wave of the pandemic much better than the first. This is reflected in the superlative returns on the domestic equity market in the 12 months ended September 30, 2021. While the benchmark BSE Sensex jumped 55 per cent during this period, the broader BSE MidCap and BSE SmallCap indices soared 72 per cent and 89 per cent, respectively.
The market sentiment, market watchers say, was boosted by hopes of a faster return to business normalcy, sustained foreign institutional investor inflows, better-than-expected financial results, the central bank’s liquidity measures such as maintaining low-interest rates, as well as a series of government reforms such as the ₹100-lakh crore ‘Gati Shakti’ infrastructure spending plan.
As a result, more than 91 per cent of the stocks on the BSE have risen in the 12 months to September. Of them, nearly 1,050 more than doubled in value. That resulted in 19 firms rising by more than 100 slots in the Business Today 500 rankings, which is based on the increase or decrease in a company’s average daily market capitalisation between the 12 months ended September 2020 and the 12 months ended September 2021. The 19 include Punjab & Sind Bank, Alkyl Amines Chemicals, Laurus Labs, Mastek, Hindustan Foods and Adani Total Gas.
But there were some notable decliners as well. Overall, more than 250 companies slid down the BT500 ranks. Some tumbled by as many as 100 places, including Godfrey Phillips, Gulf Oil Lubricants, Mishra Dhatu Nigam, Sterling and Wilson Solar, Ircon International and INOX Leisure.
But they weren’t the worst performers. Here are the five companies that recorded the biggest jumps and the steepest drops in the BT500 list.
This story is from the November 28, 2021 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 28, 2021 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Leapfrogging Into The Future
Gen AI is the future. In India, this revolutionary technology has already penetrated deep into the country's banking sector
The Visionary
In a career spanning nearly four decades, Uday Kotak, a firstgeneration entrepreneur, has not only created a bank of size but also built an institution, which offers a wide range of financial services, from asset management and insurance to securities
Is The Tie Dead?
Maybe not. But it is no longer de facto office wear and is slowly being reduced to something to be worn only on special occasions
"Bring in experts to understand customers"
Qualcomm-backed ideaForge Technology is a Mumbai-based drone manufacturer
SHAKING IT UP
AMERICAN PHARMA MAJOR ELI LILLY SEES INDIA AS ITS LAUNCHPAD FOR A NEW GROWTH TRAJECTORY, USING ITS NEW DRUGS FOR DIABETES AND OBESITY AS THE FUEL. WILL THIS STRATEGIC PIVOT WORK?
"Besides China, no one can match the scale that India offers"
Romal Shetty, CEO of Deloitte South Asia, says innovations coming out of India are being replicated globally, and the country holds great strategic value for the Big 4 firm
PICKING THE WINNERS
The methodology used for the Business Today-KPMG Best Banks and NBFCs Survey 2022-23
THE SMALL FIRM'S BEST FRIEND
Lendingkart, a fintech that posted its highest-ever PAT in FY23, is making credit available to MSMEs in India's far-flung areas
HELPING HAND
From helping financial institutions with e-verifications to aiding them in fraud detection and prevention, Perfios is bridging the gap between data and insights
THE OMNIPRESENT PLATFORM
Fintech major Razorpay has undergone many diversifications. Yet, its core premise remains the same: make the movement of money simpler