Top 10 Private Companies That Outshone the Stock Market and Soared: Diwali 2022 to Diwali 2023 Returns Analysis
A deep dive into the resilience and multibagger returns of leading private sector players across diverse industries in the private corporate landscape
The stock market often reflects the dynamic and ever-evolving business landscape. The festival of lights not only illuminated homes during Diwali but also brought significant brightness to the shareholders of several private companies. The Indian stock market has delivered strong performance since Diwali last year with the Nifty 50 index up by 9.56 per cent while the Sensex was up by 8.48 per cent. In the same period the BSE 500 showed an increase of 12.68 per cent.
However, the private sector has outperformed the broader market with many companies delivering multibagger returns. In this article we focus on the top 10 private companies from the BSE 500 that not only weathered economic challenges but also emerged as leaders in terms of returns from Diwali 2022 to Diwali 2023. These companies span various sectors showcasing the diversity of success stories in the private corporate landscape.
| Company |
Sector |
Market Cap
(Crore) |
Return
(%) |
LTP
(Nov 10, 2023) |
| Suzlon Energy Ltd. |
Capital Goods |
51,701 |
331.59 |
37.98 |
| Jindal Stainless Ltd. |
Iron & Steel |
39,031 |
252.68 |
474.35 |
| Apar Industries Ltd. |
Capital Goods |
19,541 |
245.18 |
5106.3 |
| Kalyan Jewellers India Ltd. |
Diamond & Jewellery |
34,852 |
228.02 |
338.35 |
| JBM Auto Ltd. |
Automobile & Ancillaries |
14,178 |
185.94 |
1194.95 |
| Lloyds Metals & Energy Ltd. |
Iron & Steel |
26,251 |
175.33 |
522.3 |
| Sonata Software Ltd. |
IT |
18,462 |
156.42 |
1316.7 |
| Zensar Technologies Ltd. |
IT |
10,897 |
125.21 |
481.05 |
| Cyient Ltd. |
IT |
18,371 |
115.64 |
1658.6 |
| Welspun Corp Ltd. |
Iron & Steel |
12,758 |
115.49 |
487.55 |
As you can see the majority of the companies on this list are from the capital goods, iron & steel and IT sectors. These sectors have benefited from strong economic growth and government support in recent months. The private sector's performance over the past year as evidenced by these top 10 companies underscores the dynamism and resilience of Indian businesses. Investors and stakeholders both old and new have witnessed exceptional returns painting a positive outlook for the private corporate landscape as we move forward.
The performance of these top 10 private companies from Diwali 2022 to Diwali 2023 serves as a testament to their strategic acumen, adaptability, and market leadership. Investors and enthusiasts alike will be closely watching these companies as they continue to shape the future of their respective industries. Wishing you a very Happy Diwali from DSIJ and family and hoping that your holding stocks will be on the list next Diwali.
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Disclaimer: The article is for informational purposes only and not investment advice.