Moneycontrol
Dec 20, 2012 02:25 PM IST | Source: Moneycontrol.com

How listed Gujarat firms fared under Narendra Modi's rule

Gujarat CM Narendra Modi, popularly known as 'NaMo', has emerged one of the country‘s most prolific politicians. Modi has become the favourite poster boy for India Inc because of his industry friendly policies and no nonsense attitude while doing business.

 
 
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Riken Mehta & Sagar Salvi
Moneycontrol.com


Gujarat CM Narendra Modi, popularly known as 'NaMo', has emerged as one of the country's most prolific politicians. Modi has become the favourite poster boy for India Inc because of his industry-friendly policies and no nonsense attitude while doing business.


Billionaire investor Rakesh Jhunjhunwala, in an recent interview, said that the next bull run can be triggered in 2014 if a Modi-led BJP comes into power. Be it the Reliance Jamnagar's refinery woes or Tatas Singur debacle, Gujarat has now emerged as preferred investment destination for giant corporate houses. The latest entrant to the state is Maruti. The Gujarat poll results will be out on Thursday, however, exit polls have already suggested a thumping victory for Modi.


During his first tenure (2002-2007), if an investor would have invested in 22 prominent companies based in Gujarat, his or her portfolio would have generated a whopping 2889% return.


Comparatively, during his second tenure, the returns have been muted, mostly because of the overall slowdown which started in 2007. However, investors still made a more than decent 29% return—better than benchmark index in the same period. If one would have invested in all 27 listed Gujarat-based companies since 2002, your portfolio would have made a staggering 1930 percent return.


Let's see how Gujarat based stocks have performed in his regime



Stocks% Return in tenure1% Return in tenure2% Return in tenure 1-2
GHCL854-77118
Mundra Port--31-
Gujarat Narmada510-56168
GSFC935271209
Gujarat State Petronet --16-
Gujarat Alkali822-39463
Welspun India 325-40154
Adani Enterprise 6006-373726
Adani Power--36-
Adani Ports--33-
Sun Pharma 6972122388
Gujarat Apollo954-39538
Gujarat Ambuja Exports3563-621286
Torrent Power1406153
Torrent Pharma2862391207
Torrent Cables1905031651
Aarvee Denim769-19606
Alembic 795-8353
Alembic Pharma-50-
Nirma 10510125
Gujarat Gas 27784593
Gujarat NRE Coke 7236-741809
Arvind Mills 25223333
Ganesh Housing Corp14060-842129
Atul Auto21032477552
United Phosphorous15074-2910700
Ratnamani Metals12765-437278
Cadila Healthcare4273132075
Dishman Pharma196-639
Average Returns2889291930

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