Indian stock markets have seen heightened volatility in the last two months with Sensex and Nifty tumbling over 9% each from their respective all-time peaks which achieved on 29 January 2018. The downturn in the domestic markets in the sessions of February-March was mainly due to the escalated volatility coupled with the global sell-off. The sentiments were also dejected on the jitters of LTCG (Long-Term Capital Gain) being taxed. In a major setback to the investors enjoying tax-free gains on the long-term investment in stocks, Union Finance Minister Arun Jaitley brought the LTCG under the tax net of 10% in the Union Budget 2018.
Except the months of February and March 2018, Indian stock markets were on a continuous surge broadly up until January 2018 from January 2017. The benchmark indices Sensex and Nifty holds a gain of 10-11% in the FY18. There were many blue-chip stocks which have outperformed the key indices in fiscal year 2018, we take a look on 2 large-cap stocks which doubled investor money in FY18.
Shares of Titan Company Ltd and Avenue Supermarts Ltd have doubled the investor money in FY18 vastly outperforming Sensex and Nifty rising more than 100%. The stock of Radhakishan Damani-owned Avenue Supermarts has surged 107.7% to Rs 1,312 from a share price level of Rs 637.85. While, on the other hand, shares of Titan Company have risen 105.14% to Rs 926.3 from a share price of Rs 462.75 as on 31 March 2017.
Interestingly, shares Avenue Supermarts have made a stock market debut in 2017 only. The returns on the share price of Avenue Supermarts is nearly 339% from the IPO price of Rs 299. Avenue Supermarts Ltd commands a market capitalisation of Rs 82,816.01 crore while Titan Company holds a market capitalisation of Rs 83,558.43 crore respectively on BSE.