AHMEDABAD: The year 2023 has proven rewarding for investors in major gujarat companies. During the year, Sensex reached unprecedented heights by crossing the 72,000 mark and registering a growth of 18.74%, while the Indian stock market performed exceptionally well.
Investors in Gujarat-based companies were also handsomely rewarded with top state-owned companies earning returns of up to 90%.
Market experts said Torrent Power emerged as the top earner among top companies in Gujarat, with a return of 90% in calendar year 2023, while Adani Power stock recorded a growth of 75%. Local pharmaceutical company Lincoln Pharma recorded 70% growth, while Zydus Lifesciences achieved 60% profitability in 2023.
Vaibhav Shah, director of a stock broking firm, said: "Overall, the Indian stock market has performed well and companies based in Gujarat have delivered extraordinary returns, mainly because the state has a strong base of activities. Political stability, reforms and favorable policies have helped companies expand their businesses. โGujarat-based corporate groups such as Adani, Torrent and Zydus have strong fundamentals and investors have been generating good returns from these groups over the years.โ
Hitesh Somani, founder of a stock broking firm, said, "2023 has been a big year for Gujarat-based companies. If we take a minimum of Rs 1,000 crore as market capitalization, most companies based in Gujarat have performed very well. "The energy sector has especially given the best returns: Torrent Power and Adani Power have achieved returns of over 75%. Pharmaceutical companies have also achieved promising returns of 60-70%."
"Shares of Adani group companies that were affected by the Hindenburg report in early 2023 saw a strong recovery mainly due to a series of positive news and strong fundamentals," Somani said, adding that small cap companies also rallied. They have performed well with the Nifty. Small Cap 100 offers a return of 55%, which is the highest across all sectors.
Investors in Gujarat-based companies were also handsomely rewarded with top state-owned companies earning returns of up to 90%.
Market experts said Torrent Power emerged as the top earner among top companies in Gujarat, with a return of 90% in calendar year 2023, while Adani Power stock recorded a growth of 75%. Local pharmaceutical company Lincoln Pharma recorded 70% growth, while Zydus Lifesciences achieved 60% profitability in 2023.
Vaibhav Shah, director of a stock broking firm, said: "Overall, the Indian stock market has performed well and companies based in Gujarat have delivered extraordinary returns, mainly because the state has a strong base of activities. Political stability, reforms and favorable policies have helped companies expand their businesses. โGujarat-based corporate groups such as Adani, Torrent and Zydus have strong fundamentals and investors have been generating good returns from these groups over the years.โ
Hitesh Somani, founder of a stock broking firm, said, "2023 has been a big year for Gujarat-based companies. If we take a minimum of Rs 1,000 crore as market capitalization, most companies based in Gujarat have performed very well. "The energy sector has especially given the best returns: Torrent Power and Adani Power have achieved returns of over 75%. Pharmaceutical companies have also achieved promising returns of 60-70%."
"Shares of Adani group companies that were affected by the Hindenburg report in early 2023 saw a strong recovery mainly due to a series of positive news and strong fundamentals," Somani said, adding that small cap companies also rallied. They have performed well with the Nifty. Small Cap 100 offers a return of 55%, which is the highest across all sectors.
