FY24 Review: Tata Motors, Bajaj Auto, among D-Street’s top 10 best largecaps
Equity investors became richer by ₹128.77 lakh crore in FY24, driven by increased investment inflows, resilient economy, and promising corporate earnings. On the last trading day of the 2023-24 fiscal, the 30-share BSE benchmark jumped 655.04 points or 0.90 per cent to settle at 73,651.35.
Mirroring bullish investors’ sentiment, the market capitalisation (mcap) of BSE-listed companies soared by ₹1,28,77,203.77 crore to ₹3,86,97,099.77 crore in FY24. The mcap of BSE-listed firms hit an all-time peak of ₹394 lakh crore on March 2 this year. Reliance Industries Ltd (RIL), on February 13 this year, became the first Indian company to achieve an mcap of ₹20 lakh crore.
RIL is the most valued domestic firm by market valuation with a mcap of ₹20,14,010.63 crore, followed by Tata Consultancy Services (TCS) at ₹14,05,102.38 crore, HDFC Bank at ₹11,00,184.60 crore, ICICI Bank at ₹7,69,472.43 crore and Bharti Airtel at ₹6,99,081.86 crore in the top five order.
However, Dalal Street’s top 10 best-performing largecap stocks of FY24 witnessed a surge of 110-270 per cent in their market value during the fiscal. These largecaps include Zomato, Adani Power, Tata Motors, among others. Here are D-Street’s top 10 best-performing largecap stocks of FY24 with their mcap growth in the last 12 months:
Top 10 best-performing largecaps of FY24:
1.Zomato
The online food-delivery giant has emerged as the best-performing largecap of FY24 with a growth of 261.86 per cent in market value and commands a mcap of ₹1,60,828.76 crore as of March 28, 2024. Zomato’s net profit stood at ₹139 crore and revenue rose 69 per cent year-on-year in the third quarter of FY24.
2.Tata Motors-DVR
Tata Motors-DVR has emerged as the second best-performing largecap of FY24 with a growth of 209.79 per cent and commands a mcap of ₹33,459.49 crore as of March 28, 2024.
3.Adani Power
The Adani Group’s power major is the third best-performing largecap of FY24 with a growth of 180.08 per cent in market value. The mcap stands at ₹2,05,844.83 crore as of March 28, 2024.
4.Punjab National Bank
The state-owned bank has emerged as the fourth best-performing largecap of FY24 with a mcap growth of 162.78 per cent at ₹1,36,921.98 crore as of March 28, 2024.
DLF is the fifth best-performing largecap of FY24 with a growth of 148.38 per cent in market value. The mcap stands at ₹2,22,357.25 crore as of March 28, 2024.
Hindustan Aeronautics witnessed a growth of 145.38 per cent in market value and the mcap stands at ₹2,22,518.16 crore.
7.Tata Motors
The Tata Group stock is among the best-performing largecaps and saw a growth of 139.60 per cent in market value. The mcap stands at ₹3,63,506.77 crore as of March 28, 2024. The stock rose over 132 per cent during the fiscal. The company’s luxury arm, Jaguar and Land Rover, and its strong presence in the electric vehicle space have been the major drivers for the company.
8.Bajaj Auto
The Bajaj Group major witnessed a growth of 129.15 per cent in market value this fiscal and the mcap stands at ₹2,58,965.06 crore as of March 28, 2024. The company’s mega ₹10,000-crore buyback lifted sentiment for the stock.
9.Adani Green
The Adani Group’s renewable energy arm saw a healthy growth of 118.88 per cent in market value and the mcap stands at ₹2,90,503.64 crore as of March 28, 2024.
10.HDFC Asset Management Company (AMC)
HDFC AMC is the tenth best-performing largecap of FY24. The company logged growth of 117.04 per cent in market value and the mcap stands at ₹80123.75 crore as of March 28, 2024.
Outlook for FY25
Analysts say that the key thing to watch out for now on the Nifty index is whether or not we have a closing above 22,400 on Monday after the long weekend. Rahul Ghose, CEO, Hedged.in said, ‘’The current daily candle is not very comforting but may just be as a result of expiry-related adjustments. If we see a closing above 22,400 on Monday or if we see prices close above 22,500 next week, the up move will remain and we can expect 22,900 on the index”.
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Published: 29 Mar 2024, 07:17 PM IST
