Sensex retakes 36,000, hits over 5-month high! 24 large-cap stocks gain up to 40%

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Updated: July 10, 2018 10:30:18 AM

Sensex at 36,000: The S&P BSE Sensex reclaimed 36,000-mark in the early session on Tuesday tracking the upbeat Wall Street and optimism over the first quarter corporate earnings season with blue-chip companies TCS and IndusInd Bank set to announce their respective Q1 results today.

Sensex at 36,000: In the morning deals on Tuesday, the 30-share barometer Sensex added 231.67 points or 0.64% to hit a nearly five-and-half-months high of 36,166.39. (Image: Reuters)

Sensex at 36,000: The S&P BSE Sensex reclaimed 36,000-mark in the early session on Tuesday tracking the upbeat Wall Street and optimism over the first quarter corporate earnings season with blue-chip companies TCS and IndusInd Bank set to announce their respective Q1 results today. Notably, the benchmark Sensex index has regained the 36,000 level in over 5 months. As far as the returns are concerned, BSE Sensex has surged more than 4% in the last six months to 35,935 from a level of 34,433 as on 10 January 2018.

In the morning deals on Tuesday, the 30-share barometer Sensex added 231.67 points or 0.64% to hit a nearly five-and-half-months high of 36,166.39. This is the highest level in over five months. Earlier on 1 February 2018, BSE Sensex made an intraday high of 36,256.83. Surprisingly, in the last six months, as many as 24 large-cap stocks have returned 5-40%.

Large-cap stocks that rose up to 40%

Shares of India’s IT giant TCS (Tata Consultancy Services) have rallied the most out of the pack of 24 scrips. Riding on the back of stellar Q4 results 2018, big corporate announcements — Rs 29 dividend per equity share, bonus issue in 1:1 ratio and share buyback program of Rs 16,000 crore — TCS share price have touched newer all-time highs for a number of times.

Following the sharp appreciation in the share prices, TCS became India’s first IT company with a market capitalisation of over $100 billion and the first** Indian firm have $100 billion in market capitalisation after Reliance Industries. The stock of TCS has returned 39% to Rs 1,886.05 from a share price level of Rs 1,354.22 in last six months.

Other shares which have returned up to 40% are Britannia Industries (up 38%), Kotak Mahindra Bank (up 37%), Bajaj Finance (up 30%), Avenue Supermarts (up 29%), Nestle (up 27%), Godrej Consumer Products (up 27%), Infosys (25%), HUL (up 24%), M&M (up 23%), Tech Mahindra (up 22%), Bajaj Finserv (19%), Pidilite Industries (up 17%), HDFC Bank (up 15%), Asian Paints (up 14%), IndusInd Bank (up 13%), JSW Steel (up 11%), HDFC (up 10%), HDFC Standard Life (up 10%), HCL Tech (up 9%), Marico (up 8%), Reliance Industries (up 8%), Yes Bank (up 7%) and Dabur (up 5%).

Out of these 24 stocks, 8 shares are from the BFSI sector, 7 stocks are from the FMCG sector, 4 are from the IT sector, 2 are from the chemical industry, M&M and JSW Steel are the only stocks from auto and steel industries while RIL is only one from conglomerates.

** Earlier in 2008, during the stock market boom just before the subprime mortgage crash, RIL became the first Indian company to have a market capitalisation of $100 billion. At that time, the rupee to dollar exchange rate was around 42 per unit US dollar and now the Indian rupee is hovering near all-time lows and was quoted at 68.72 against US dollar on the foreign exchange market.

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