Modi at 3: Top 10 stocks that gave 300% returns since May 2014
It's been three years since Narendra Modi became prime minister of India.
In these three years, Modi received mixed bag of reactions from public.
Here's a look at the equity markets in these three years:
Call it as "Modi impact" or "optimistic investors" behaviour, but the markets have come a long way since May 2014.
BSE Sensex which was trading at 24217.34 in May 2014, is presently trading at 30639.5. In three years, Sensex has given return of 26.5% to its investors.
At the same time, NSE Nifty which was trading at 7229.95 in May 2014, and presently it is trading at 9,500, giving return of 31.3% to its investors.
According to Amit Goenka, Analyst at multibaggerstocks.co.in, said, "There are 220 stocks that gave over 300% returns in just three years."
Out of 220 stocks, here is a glimpse of top 10 stocks that jumped three-fold in three years:
Goenka said, "Expect Nifty to hit 9900 in the next 2-3 months where we may see some correction due to a psychological resistance level. We may see a lot of profit booking and volatility around that level.
"Global cues and earnings will be the deciding factors. Valuations for most companies are at all-time highs and unless earnings are decent, I don’t see 10,000 being crossed easily."
Further, with new tax regime, goods and service tax (GST) come into play from July 1, the investors as well as companies are very optimistic for pick up in economy.
It would be interesting to see whether the "Modi wave" continue in coming years or will take a break after 2019 elections.