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140 non-A group stocks gain over 100% in 2016

This article was posted on Jan 9, 2017 and is filed under Market News

The combined market capitalisation of these 140 companies increased 191% to Rs 54,760 crore. As many as 140 stocks out of 2,120 stocks in the BSE non-A group category have surged over 100% each in CY2016, even the benchmark S&P BSE Sensex recorded a marginal returns of 0.36% during the year. Of these, 48 stocks have zoomed between 200% and 700% during the period till Tuesday.

The combined market capitalisation of these 140 companies increased 191%, or Rs 35,966 crore, to Rs 54,760 crore from Rs 18,794 crore on December 31, 2015, the CapitalinePlus database show. The rise can partly be attributed to a healthy financial performance. The data of 137 companies available have posted a combined net profit of Rs 1,655 crore in the first half of the financial year 2016-17 (H1FY17) as compare to Rs 119 crore in the previous corresponding period.

In a number of these companies, promoters and the individual shareholders collectively hold over 90% stake, the latest shareholding pattern data show. Typically, most companies in the non-A group are not very liquid counters, with little or no institutional participation. Also, a lot of companies have been put in some of the buckets due to a history of non-compliance with the rules.

For more visit: Business-Standard.

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