13 Gujarat-based firms yield over 100% return in one year

More than a dozen (13) Gujarat-based listed companies' share prices have more than doubled since July 13, 2020. Their stocks yielded more than 100% returns over the past 12 months. The number excludes the Adani Group companies that managed to grab everyone’s attention because of their meteoric surge.

Companies like Monarch Networth Capital, Ganesh Housing Corporation, Deepak Nitrite and Gujarat Fluorochemicals have seen their value jump in between 250% to 495% since July 13, 2020. On the other hand, firms like Gujarat Gas; Astral Ltd; Gujarat Narmada Valley Fertilizers and Chemicals; Atul Ltd; and Ratanami Metals and Tubes offered returns of up to 168%.

“Most of these stocks where the rally has been robust are operating in the city gas distribution, building material, chemicals and pharmaceutical space,” The Times of India quoted Parth Parekh, a research analyst at Prudent Corporate Advisory, as saying.

The count of Gujarati multi-baggers is even higher when Adani Group’s six listed companies are also counted in. The benchmark BSE Index Sensex, during the same period, rose around 44 per cent to 52,769 points on July 13 from 36,693.6 points on July 13 last year.

Adani Group’s companies' share prices are still showing a 175% to 810% rise since July 13 last year, despite recent market corrections. Adani Total Gas Limited and Adani Enterprises Limited's shares have risen by 488% and 810%, respectively.

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