Missed Sensex rally to 30,000? Some stocks are cheaper than when market was at 15,000
We're not discussing dud companies or penny stocks here.
Indian equity indices have witnessed a roaring rally lately, with the benchmark Sensex finally taking out the 30,000 level.
While many investors have taken part in the upturn, as witnessed from the steady inflows into mutual fund systematic investment plans (SIP) data, there are still others who have been left out: they may have thought valuations were too high to purchase shares.
But how would you react if you were told that there are stocks that are still trading at levels below than when the Sensex was last at 15,000. And we're not discussing dud companies or penny stocks. These are companies that are actually profit-making and have a respectable market capitalisation.
The BSE S&P Sensex was at 15,000 last in June 2009, taking nearly eight years to double from that level.
We screened for stocks in the BSE universe that have a minimum marketcap of Rs 500 crore, made a profit in their last-reported full-year earnings and which are trading below levels seen in June 2009.
The filter threw up a list of 46 stocks.
But what's surprising is that the list actually throws up names of strong well-run companies: such as Reliance Capital, NMDC, NTPC, Nalco and even ONGC.
Below is the complete list: