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Data crunching done by ETMarkets showed that 23 companies reported atleast a double-digit year-on-year (YoY) growth in both revenue and profits for three consecutive quarters. About seven of them have given multibagger returns year-to-date, and five of them have done that only in FY24.
The Adani Group stocks have been rallying on favourable triggers including the Bharatiya Janata Party's (BJP) electoral wins in three key states in the Hindi heartland viz. Madhya Pradesh, Rajasthan, and Chhattisgarh, lending more confidence to the Street on the return of the incumbent government in the 2024 general election.
Over the past 15 years, the stock has closed 11 years with positive performance, with CY14 being the standout year with a remarkable rally of 96%, followed by 48% in CY17.
Bumper listings are becoming a norm. Out of the 101 IPOs that we saw in 2023 so far, 84 are still trading at a premium to their issue prices.
Shares of Trent, the retail arm of Tata Group, hit a new all-time high of ₹2,826 apiece in Friday's trade, propelling the company's market capitalisation to cross the ₹1,00,000 crore mark.