Investors reap rich harvest with small Gujarat companies

As was expected, Sensex crossed the 20,0000 mark on Tuesday, after a gap of 32 months. The benchmark index has gained 25.83% in the last 11 months, up from the level of 15,896 on October 30, 2009.

While the bull run has resulted into jump in share prices of companies across the board, several relatively small and lesser-known companies of Gujarat have outperformed the market rally and benefitted their shareholders the most during this period. Many of these small and midcap companies have registered gains of as much as 300-1,000% in the said period.

Leading the pack is Minal Industries, which has surged over 990% to Rs101.25 per share from Rs9.29 less than a year back on October 30, 2009. Similarly, Prabhav Industries has gained 590% to quote at Rs98 per share. Shares of companies like Sacheta Metals, Kaleidoscope Films, Gandhinagar Hotel and Well Pack Papers have gained by around 400%.

Mafatlal Industries, Bodal Chemicals Ltd and Bhagwati Banquet, too, have made their shareholders’ wealth rise more than 300%.
While top companies of the state, including Adani Enterprises Ltd, Torrent Pharma, Sintex, Mundra Port and Cadila Healthcare, too have outperformed with over 60% rise in their stock prices,
against the Sensex’s rise of 25%, their performance falls much
short of the less-known small companies.