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This article is more than 2 year old.

Nifty's journey from 11,000 to 12,000: Adani Power, Praj Industries among 21 stocks that surged over 50%

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Around 21 stocks contributed the most in the Nifty's 333-days journey from 11,000 to the 12,000-mark, with over 50 percent gain during the period.

Nifty's journey from 11,000 to 12,000: Adani Power, Praj Industries among 21 stocks that surged over 50%
Around 21 stocks contributed the most in the Nifty's 333-days journey from 11,000 to the 12,000-mark, with over 50 percent gain during the period.
The index settled above the 12,000-mark for the first time on Monday. On Tuesday, it settled at 12,021.65, lower by 66.90 points or 0.55 percent from its previous close.
Among the 21 stocks of Nifty 500, shares of three companies rose more than two-fold, according to data from Ace Equity. Adani Power, Balrampur Chini Mills and Vinati Organics rose by 160.88 percent, 125.14 percent, and 122.30 percent respectively.
They were followed by Fine Organic Industries and Praj Industries, which increased by 93.28 percent and 84.76 percent.
The other companies in the top 10 were Procter and Gamble Health (77.44 percent), Info Edge (India) (75.08 percent), Power Finance Corp (74.03 percent), UPL (73.06 percent), ICICI Lombard General Insurance (71.61 percent).
The 21 top companies also included ICICI Bank (55.31 percent), Axis Bank (50.95 percent), Interglobe Aviation (50.44 percent).
The other stocks included SRF, Bata India, Muthoot Finance, DCM Shriram, Tube Investments of India, Aditya Birla Fashion and Retail, Titan Company and Heidelberg Cement India.
Analysts said that the recent surge in the market was mostly based on hopes of reforms, return of the BJP-led NDA government to power and also of probable interest rate cuts.
"The journey of 1,000 points was a hope rally. Now, the market now would depend upon how fast the reform process takes place and the problems with NBFCs get resolved," Saurabh Jain of SMC Comtrade said.
The Nifty50 may reach 13,000-mark and the BSE Sensex may touch 43,500 by the end of the year, Jain said.
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