Amidst the extraordinary bullish run of the markets which saw Sensex crossing the ceiling of 60000, share prices of fourteen companies from Gujarat have doubled or more than doubled their value. leading the pack is Ganesh Housing with an increase in price by 416%.
R&B denim with 305%, Adani Total gas with 270%, Monarch Networth with 266%, Adani Transmission with 254%, PG Foils with 233% and Gujarat Fluorochem with 206% increase in share price have provided their shareholders’ reasons to feel elated.
The increase is noticed in line with the surge in Sensex from 50000 in January to 60000 now. Adani Enterprises Limited (AEL), Nandan Denim Limited, Deepak Nitrite Limited, and Gujarat Themis Biosyn Limited are other enterprises that have witnessed an increase in their share prices crossing 100% but falling just a bit short of 200% increase. Apart from these other eight companies from Gujarat have their share prices increased by 50% to 99%
It is important because the weak global economic outlook has not dampened the mood of the domestic market. The momentum is thanks to the domestic investors, an expert said while adding that realty stocks continued to outperform other sectors thanks to increases in property registrations and cut in home loan interest rates.
This list of companies includes GR Infraprojects Limited, Ami Organics Limited, and Tatva Chintan Pharma Chem Limited which entered the market with their IPOs in 2021.