New Delhi, Oct 20: On Tuesday, the Sensex touched an intra-day low of 2753 which is close to the level of December 4, 1996. A comparision of the prices of individual scrips, however, reveal that the majority are still above their December 1996 levels. Led by infotech, pharmaceutical and multinational stocks, these stocks are currently trading at a premium to their December 1996 levels despite the bear mauling over the past few months.Contrary to popular perception, our study of 141 scrips (Group A scrips which were listed in 1996) show that 86 scrips have gained while 55 have lost from their 1996 levels. Over this period, Satyam Computers has been the top gainer with an appreciation of over 1000 per cent. In December 1996, the scrip was quoting at Rs 44 as against the current market price of Rs 551. The top loser over this period has been Garware Polyester with a 86.88 per cent drop in its share price to Rs 12.1.
Among the gainers, which have moved up by more than 100 per cent, are mostly infotech,pharmaceuticals and multinational stocks with the exception of Crisil and BPL Limited. There are 20 scrips which have provided more than 100 per cent return over a period 23 months.
Scrips of companies with strong brand value have also provided good returns. This includes BPL Limited, Pond's India, Punjab Tractors, TVS Suzuki, HLL and Indian Shaving. Interestingly, two Tata group companies -- Tata Tea and Voltas -- also appear in the gainers' list. All other Tata group scrips like Tisco, Telco, Tata Power are among the losers.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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