Kerala-based, Manappuram Finance leads the pack of ten companies from BSE 500 universe that have doubled in 2016 so far. The stock of the non-banking financial company (NBFC) has gained nearly 210% with analysts saying the firm has been making efforts to diversify the loan book. Other strong performers are Escorts and Gujarat Narmala Valley Fertilizers—they have gained around 133% and 126% respectively. Vedanta, Dalmia Bharat, Delta Corp, Edelweiss Financial Services and GHCL are also among the toppers putting on more than 100%.
The new entrant to the equity market Infibeam Incorp also generated handsome returns as the e-commerce company surged over 100% since its debut in early April. The Sensex has risen 7.52% so far in 2016 while the BSE 500 index has gained 12.05%.
At the other end of the spectrum, stock of Lycos Internet lost around 75%, making it the worst performer in the BSE 500 index. This was followed by Just Dial, Sequent Scientific, Marksans Pharma and KSKJ Life whose shares were down around 48%.
Telecom firms Reliance Communications and Idea were also among the losers as their shares were down around 45% so far in 2016.