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Why investors are celebrating under PM Narendra Modi’s reign?

07 June 2017
In the last 3 years, 55 stocks gave over 1000% returns. What's the real story?
 
 

Narendra Modi took charge of the Indian government on 26 May 2014. 

In the past three years of Modi government’s ruleas many as 55 stocks have delivered over 1000% returns. These included Kushal Uniply Industries, Kellton Tech, V2 Retail, Rushil Décor, Avanti Feeds, Minda Industries, Indo Count and 8K Miles, among others. Wabco India and Tide Water Oil, were among the 1,100 stocks that doubled investors’ wealth. 

Additionally, during these three years, the BSE500 index outperformed Nifty with an absolute return of 42.7%, and a compounded annual growth rate (CAGR) return of 12.6%.?There were also close to 287 companies that outperformed the benchmark return. 

“The trajectory of Nifty will be defined by earnings. The consensus in earnings seems to be that for the next two years that is FY18 and FY19, the general, compounded annual growth rate (CAGR) basis, the earnings could go up between 15 and 20 per cent,” said Piyush Garg, EVP & CIO, ICICI Securities to Moneycontrol. 

 

Sectors that saw the highest benefits include NBFCs (Non-Banking Financial Companies), and Chemicals. Apart from these, private sector and small sized public sector banks, showed decent performances as well.  

 

Meanwhile, sectors that saw a decline include Capital Goods, Power, IT Software, and even real estate, despite the attempt to make the area more transparent.  

 

 

“If there are earnings surprises then there is a huge potential in the market for the next one year. In the next two years, I would say a 12,500 kind of Nifty is possible in the next 24-30 month scenario provided earnings catch up, otherwise no,” Garg said.

 
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