10 stocks that bucked the falling market
There are 10 companies with a market capitalisation of more than Rs 100 crore in the A and B category of stocks at the Bombay Stock Exchange that have generated positive return since January 8, reports Sandeep Singh.business Updated: Oct 26, 2008 20:58 IST
While well-known companies like Unitech, Parsvnath, Suzlon, Indiabulls, Jaiprakash Associates and Reliance Infrastructure among others have lost more than 85 per cent of their value since January 8, there are 10 companies with a market capitalisation of more than Rs 100 crore in the A and B category of stocks at the Bombay Stock Exchange that have generated positive return in the same period.
Sun Pharmaceuticals, Lupin and Zandu Pharmaceuticals are three major pharmaceutical companies that have generated positive returns. Hero Honda, that has seen its 2-wheeler sales growing, has also bucked the trend. The company’s share price has risen by 5.4 per cent since January 8 while the benchmark index at the Bombay Stock Exchange- Sensex has corrected by 58 per cent.
Pharmaceutical industry is a conservative industry and companies have consistently grown in revenues and profits. The other factor that analysts say is that pharmaceutical industry was lagging in the bull-run and so it fell the least.
While these 10 companies have brought smiles to their investors, there are 218 companies of the 724 companies in the BSE A and B category stocks (the best rated companies), that have managed to generate losses less than the Sensex. That is almost one in every three companies.