Independence Day 2023: ITC, Adani Ent shares among top best and worst performing stocks since last independence day
Narendra Modi said India will become the world’s third largest economy in five years. Looking at the year gone by, Indian stock market investors may have a reason for cheer. The benchmark index Nifty has rallied 9.81 since last year’s Independence day, or since 15th August 2022.
The BSE Sensex has surged 10% during the last one year. The market capitalization of all the listed companies on BSE swelled to ₹309.09 lakh crore as on 15th August 2023 from ₹275.03 lakh crore on the Independence day last year. Let us check the top best and worst performing stocks among Nifty constituents since last Independence day, which is during Independence Day 2022 to Independence Day 2023.
Read Independence Day 2023 LIVE Updates here ITC, the diversified conglomerate, is the best performing stock in the Nifty index over the last one year. ITC share price has delivered 45.58% returns in the last one year period. ITC shares have been on a stellar rally amid improved fundamentals, optimism over demerger of hotels business and growth in all segments, including cigarette, FMCG and Paperboards and Packaging businesses.
ITC stock hit a 52-week high of ₹499.70 on July 24, 2023. Larsen & Toubro (L&T) The engineering and construction major Larsen & Toubro (L&T) stands at number two in the list of top performing stocks in the last one year. L&T share price has jumped 44.05% since last year’s Independence day till Independence day 2023.
L&T has been reporting strong earnings led by robust execution and better ordering activity. Analysts are positive on the stock amid the company’s record order book with healthy order pipeline and revival in private capex. Also Read: Independence Day 2023: Gold glitters, equities shine - a look at how 3 asset classes
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