Despite the ongoing election jitters among investors, the market capitalisation (m-cap) of 16 companies has crossed the Rs 1 trillion-mark, joining the club with 73 others. Cummins India, ABB India, and Vedanta are among the firms which have seen a sharp increase in their market value so far in 2024.
The total number of companies with m-cap of more than Rs 1 trillion has now swelled to 89 from just 74 at the end of the 2023 calendar year. However, Shree Cement has exited the club as its shares were down over 8% so far, dragging down its m-cap.
However, the club additions have managed to outperform benchmark indices during the period, with returns in the range of 8% to a whopping 97%. The Nifty 50 has risen 3.6% and Sensex 2.4% as on May 18.