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| Edited By: Gopal Modi |Source: DNA |Updated: Mar 30, 2018, 03:27 AM IST
With Sensex gaining 132.95 points on Thursday, the Bombay Stock Exchange’s benchmark index is just 200 points away from the 19,000 mark. It is now around 2,400 points below the all-time high of 21,206.77 achieved in January 2008.
The bullish sentiment lifted the share prices of around 25 small and medium sized Gujarat-based companies to their all-time highs during the ongoing September 2010 quarter. The list includes the companies of big business houses, including Adani, Torrent and Zydus, and one state PSU.
In all, there are around 12 state-based major companies whose share prices scaled all-time highs during the quarter. Besides, there are about 15 small companies which have bagged this distinction.
Gujarat Gas and Atul Ltd made their all-time highs on Thursday. Gujarat Gas touched a price of Rs454 before closing at Rs403.90. Similarly, chemicals manufacturer Atul Ltd surged 3.58% to Rs150.30 at close. During the current week, companies like Riddhi Siddhi Gluco Biols, Gujarat State Petronet Ltd (GSPL), AIA Engineering and DB Corp too crossed their all-time high prices.
There is only one public sector undertaking, out of the six listed state PSUs, which reached all-time high during the quarter. GSPL touched Rs123.95 per share on September 7, 2010. Some other private companies on the list are Hitachi Home and Life Solutions, Atul Auto and Cera Sanitaryware, among others.
Several companies belonging to big business groups, including, Adani, Zydus and Torrent, made their life-time highs in the current quarter. After 1:1 bonus, Adani Enterprises touched Rs682.45, its all-time high price, while Adani Power crossed Rs144 mark in August itself.
Torrent Group firms, Torrent Power and Torrent Pharma, crossed their life-time high prices in July this year. Cadila Healthcare and Zydus Wellness, too, crossed their all-time high in the current quarter.
Market experts said the companies on the list have reported good performance. “GSPL, for instance, reported over 200% rise in profit after tax. Torrent Power and Adani Power have benefitted from expansion of their capacities. Pharma sector has also participated in the market rally,” said one. Strong quarterly numbers from most Gujarat-based companies and FII inflows are cited as reasons for the rise in share prices.
