IRFC, IndiGo, BoB among 9 stocks that crossed ₹1 lakh crore in m-cap since last Diwali
₹one lakh crore is a significant milestone for the listed companies. Since last Diwali nine companies have successfully achieved this, demonstrating their resilience in a volatile market. Bharat Electronics crossed the ₹one lakh crore market capitalisation on September 01.
After hitting a one-year low of ₹87 apiece in March, the shares bounced back strongly to the current level of ₹137.95 apiece, reflecting an increase of 52%. During this period, the market capitalisation of Bharat Electronics moved to ₹1,00,838 crore from ₹63,595 crore. This strong rally in the shares was primarily attributed to the company's strong financial performance and robust order wins.
BEL is a Navratna PSU under the Ministry of Defence, Government of India. The company manufactures state-of-the-art electronic products and systems for the Army, Navy, and Air Force. Varun Beverages, the second-largest bottling company, also crossed the ₹one lakh crore market capitalisation mark.
In the last one year, the market capitalisation of the company has jumped from ₹56,251 crore to the current value of ₹1,30,169 crore. On May 10, the company crossed the ₹one lakh crore m-cap. The company's shares that hit the secondary market in 2016 have never turned back, marking new record highs year after year and being resilient against market fluctuations, economic downturns, and industry disruptions.
After finishing its listing year in negative territory, the stock witnessed a robust surge of 72% in the subsequent year (CY17). This upward momentum persisted in CY18, CY19, and CY20, yielding gains of 20%, 36%, and 30%, respectively. The stock further maintained its upward momentum in CY21 and CY22, with returns of 45% and an impressive 124%, respectively.
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