Meet the Nifty Next 50 stocks that had a better year than Tata Motors
Nifty Next 50 index has emerged as a star performer in financial year 2024. This index is specifically designed to track the performance of 50 promising young companies, which could be the next contenders to enter the Nifty 50 index. In February 2024, the index surged 6.68%, leaving all other major indexes in the dust.
The index has steadily climbed for the past year, boasting a remarkable growth of 60% in FY2023-2024. Compared to Nifty 50’s top performer Tata Motors, which logged around 130% gains in FY24, several companies from the Nifty Next 50 index inched higher and outperformed. The momentum shows no signs of slowing down.
It offers a compelling opportunity to invest in the future of India’s most dynamic companies. Let’s look at the top 5 performing stocks of the Nifty Next 50 index. From thermal to gas, hydro to nuclear, BHEL delivers the equipment that keeps India's economy charged.
This integrated power plant equipment manufacturer is engaged in the design, engineering, manufacture, erection, testing, commissioning, and servicing of a wide range of products and services for the core sectors of the economy. With 197GW power generating capacity, BHEL's share in the country's total installed thermal generation capacity stands at 55%. It has a pan-India presence with 16 manufacturing units and 8 service centres.
BHEL is undergoing strategic transformation, moving from a revenue-centric approach to a project-centric one. This turned out to be a winning formula as the company doubled its erection tonnage at project sites over the past three years, reaching 0.5 MT in FY 2022-23. The company achieved this despite a decline in the overall order book and a complete halt in thermal order placement for three years, from
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