Hold your breath. The bull phase, which set in the markets early this year, has propelled stock prices of some companies like Kwality BSE Dairy, Visagar Polytex, Well Pack Papers, Geekay Finance, Bhagyashree Leasing and Falcon Tyres by over 400% in just one year.
Over 100 stocks
have given investors over 100% returns in one year. Some other counters like CNI Research, Filatex Fashions, Kiri Dyes, S I Group, Fem Care Pharma, V S T Tillers, Shree Cement, Mphasis, Hawkins Cookers and Avery India have made investors richer by 125-250 % in the same time, CMIE data shows.
Compare this to sensex stocks like Tata Steel (24%), Reliance Industries (-12 %), HDFC (3%), Infosys (16%), BHEL (37%) and ICICI Bank (9%). Maruti Suzuki, the lone sensex constituent, finds place in the stocks that have at least doubled in the past one year. Sensex has gained a mere 3% during this period with many heavyweights managing to grow value by 15-20 % only. The return data has been calculated based on adjusted prices for the last one year till August 18, 2009.
“We see that despite the many positives that should drive the markets in the long term, the near-term outlook remains cautious given the extreme valuations and monsoon outlook. Hence, rather than betting on the overall index or the markets, it makes sense to hunt for undervalued sectors/ stock ideas,’’ said an analyst of Kredent Brokerage Services in an August 18 note.
http://economictimes.indiatimes.com
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