MUMBAI: The mayhem in stock markets is not spelling doom for all and Diwali could still be a festival of light for investors in as many as 65 companies, which have added more than Rs 10,000 crore to their collective market value since the downslide began early this year.

The irony is that this meltdown-defying club includes not a single Sensex blue-chip and they are mostly small and little-known companies, barring a few like Hero Honda, Sun Pharma, Zandu Pharma, Lupin, Nestle India and BOC India.

Moreover, the total gain registered by these companies in their market capitalisation together is less than the individual losses for as many as 69 companies during the same period.

Besides, the gain of about Rs 10,700 crore for these 65 companies since January 10 — the day when the benchmark Sensex scaled its record high of 21,206.77 points before embarking on its downhill journey — pales in comparison to a collective loss of more than Rs 44 trillion registered by the remaining companies.

During this period — when the benchmark Sensex has slipped to nearly one-third of its value to close at 8,701.07 points on Friday — close to 2,450 companies have seen plummetting their market values with a collective loss of about Rs 44,50,000 crore.

The collective market cap of these companies, which include virtually all the big names of India Inc such as Mukesh Ambani-led Reliance Industries, public sector giants ONGC, NTPC, SAIL and SBI as well as other corporate majors such as ICICI Bank, Anil Ambani-led RCOM, Sunil Mittal-led Bharti Airtel and realty majors DLF and Unitech, has dropped to near Rs 26 trillion from close to Rs 70.5 trillion on January 10.

However, the saving grace for the market in this over 10 months of the meltdown has been the 65 companies that have seen their collective market cap growing to nearly Rs 80,000 crore, from about 70,000 crore as on January 10.
The gain has been maximum at over Rs 4,500 crore for Sun Pharma, followed by about Rs 2,500 crore for Sterling International. While Hero Honda has added about Rs 815 crore to its market cap during this period, the gains have been between Rs 100-400 crore for eight other companies — Bosch Chassis, Lupin, Zandu Pharma, Suntek Realty, Panyam Cement, Panoramic Unilever, Sterling Biotech and Suashish Diamond. Others which have seen their market cap growing during this period include Kohinoor Foods, BOC India, Coromandel Fertiliser and Nestle India. The addition have been between Rs 30-90 crore only for them. Nine of these bear-hug defying companies have in fact added less than Rs 1 crore each during this period.

In comparison, Reliance Industries has lost close to Rs 2,80,000 crore in this meltdown, while DLF, ONGC, RCOM, ICICI Bank, NTPC, NMDC and MMTC have seen their market values plummetting by more than Rs 1,00,000 crore each.
Besides, Bharti Airtel, Unitech, L&T, SAIL, BHEL, Reliance Petroleum, Suzlon, Sterlite, SBI and Reliance Capital have also lost more than Rs 50,000 crore each.

Companies like Reliance Infrastructure, Tata Steel, TCS, HDFC, Jaiprakash Associates, Indian Oil, Jindal Steel, Wipro, Kotak Mahindra Bank, PGCIL, GMR Infra, Hindustan Copper, Neyveli Lignite, Mundra Port, Essar Oil, Reliance Natural, Siemens, Idea Cellular, HDIL, ITC, Hindustan Zinc, Grasim Industries, Adani Enterprises, Tata Motors, Jai Corp, Cairn India, Infosys, HDFC Bank, Tata Power, Indiabulls, PFC and Hindalco are among the other major losers.

source: Economictimes

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