We take a look at few blue-chip stocks that outperformed the key equity indices -- Sensex and Nifty -- and have returned up to 120% in this year so far.
Indian stock markets have been on a rising spree since January this year, save for a few bumps seen just of late. Yesterday only, on Friday, The benchmark equity indices Sensex and Nifty plunged heavily on news reports that North Korea may conduct another hydrogen bomb test in the Pacific Ocean. Sensex washed off 484 points to hit the day’s low of 31,886.09 points, seeing its biggest percentage fall in over 10 months since 15 November 2016 — the demonetisation period. It ended 447 points down at 31,922.44 points. The broader Nifty 50 index also lost 169 points to fall below 10,000 mark to 9,952.8 points. Despite yesterday’s drubbing, and other such occasional bumps, the key equity indices Sensex and Nifty have returned about 20-22% in this year so far.
Now, with there being only 100 days left to ring the bell for New Year 2018 from today, 23 September 2017, we take a look at few blue-chip stocks that have outperformed even the stellar return of Sensex and Nifty — and have returned up to 120% in this year so far.
Bajaj Finance: The stock of Bajaj Finance, which recently issued a QIP (qualified institutional placement) to raise an amount of Rs 4,500 crore, tops the list. The stock is about to enter the basket of Nifty later this month. Bajaj Finance shares have more than doubled the investor’s’ wealth since January 2017 so far. The stock had advanced 120.25% to Rs 1,858 on NSE in this year.
Indiabulls Housing Finance: This stock too has almost doubled in this year so far. Shares of Indiabulls Housing Finance have gained 90.4% since January to Rs 1,235.7 on NSE now. Earlier this month, research and brokerage firm CLSA raised the target price on Indiabulls Housing Finance shares to Rs 1,500 from Rs 1,380.
Bajaj Finserv: The stock of Bajaj Group’s financial services arm has also appreciated over 80% in the year 2017. Shares of Bajaj Finserv have returned 81.77% to Rs 5,235 on NSE. Earlier last week, technical analyst Ashwani Gujral recommended the stock with a target price of Rs 5,700 and a stop loss of Rs 5,580.
Piramal Enterprises: The stock of Piramal Enterprises has zoomed nearly 70% in this year so far. Yesterday itself, Sandeep Wagle of powermywealth.com recommended to ‘hold’ Piramal Enterprises and said that one can add on at lower levels. “My stop loss would be Rs 2,500 and my target would be around Rs 3,500 given a time horizon of 12-15 months,” Sandeep Wagle said. Shares of Piramal Enterprises have gained 69.75% this year to Rs 2,750 on NSE.
Other blue-chip shares which have outperformed the key equity indices this year include: Tata Steel, up 67.37% to Rs 654.4; Yes Bank, up 56.47% to Rs 361.45; DLF, up 56.4% to Rs 173.6; Motherson Sumi Systems, up 55.77% to Rs 337.7; Indusind Bank, up 53.97% to Rs 1,704.5; Maruti Suzuki, up 51.6% to Rs 8,058; HDFC Bank, up 51.55% to Rs 1,823; Reliance Industries, up 51.18% to Rs 816.95; Hindalco, up 50.32% to Rs 232.7; Hindustan Unilever, up 50.23% to Rs 1,240.5; Adani Ports, up 49.56% to Rs 400; HPCL, up 48.83% to Rs 439.2; Britannia Industries, up 47.84% to Rs 4,262.1; Container Corporation of India, up 47.63% to Rs 1,310; Eicher Motors, up 44.98% to Rs 31,569; Ashok Leyland, up 43.56% to Rs 114.85; Vedanta, up 43.32% to Rs 310; Kotak Mahindra Bank, up 42.35% to Rs 1,021.3; HDFC Ltd, up 40.59% to Rs 1775.15; and ABB India, up 36.86% to Rs 1,430.