Sensex hits 80,000 for the first time

Mumbai: Many Kerala based companies have given hefty returns to investors as the benchmark Indian stock index Sensex touched 80,000-mark for the first time ever on Wednesday. It took less than seven months for the last 10,000 points since Sensex first touched 70,000 mark on December 11.

The biggest outperforming stock is Cochin Shipyard Ltd., the public sector ship-builder, with its stock price skyrocketing by 281.87% from Rs 639/share on December 11 to Rs 2,440.20/share. Simply put, if you had invested Rs 1 lakh on Cochin Shipyard stock on December 11, your investment would be worth Rs 3.82 lakh on July 3.

Kochi-based V-Guard is the second-best performer from among Kerala stocks. Investors who bought the stock on December 11 were richer by 54.68% as the company’s share price increased from Rs 298.15 apiece to Rs 461.20 apiece on Wednesday. Kalyan Jewellers, the Thrissur headquartered jeweller, was the third biggest gainer on the bourses from Kerala. Its stock price jumped 52.96% in the period from Rs 318.2 apiece to Rs 486.75 apiece.

The Sensex rose from 70,000 to 80,000 from December 11, 2023, marking an increase of 14.28%.

Another surprising stock that zoomed in the last nearly seven month period is Kochi-based Geojit Financial Services Ltd as its stock price rose past Rs 100-mark on Wednesday to close at Rs 100.55 apiece, an increase of 47.17% from Rs 68.32 apiece on December 11.

The company with the highest market capitalisation from Kerala is gold loan major Muthoot Finance.

The company’s m-cap stood at Rs 71,898.11 crore. Muthoot Finance’s stock gave a return of 24.52% since December 11 — stock price rising from Rs 1,444.25/share to Rs 1,798.40/share.

Public sector Fertilisers and Chemicals Travancore Ltd (FACT) is the company with second highest m-cap from Kerala. Its m-cap stood at Rs 65,208.68 crore as on Wednesday. FACT is followed by Cochin Shipyard, which had a m-cap of Rs 64,196.97 crore.