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How have Guj-based cos performed election to election?
The BJP won the Gujarat elections and CM Narendra Modi will continue his stint. CNBC-TV18 reports on the performance of Gujarat-based companies from election to election. If one looks at the returns of some of the companies based in his jurisdiction, there has been a clear outperformance on a lot of these companies, compared to the Nifty.
The BJP won the Gujarat elections with a majority and CM Narendra Modi will continue his stint as a state head again. CNBC-TV18's Anichya Shah reports on the performance of Gujarat-based companies from election to election.
He said that Narendra Modi seems to be doing a lot of things right. If one looks at the returns of some of the companies based in his jurisdiction, there has been a clear outperformance on a lot of these companies, if one compares them to the Nifty. Shah analysed some companies with a market cap of at least Rs 100 crore.
The most recent listing- Mundra Port , has already given a return of 11% in excess of Nifty, over the last 30 days. Gujarat State Petronet has exceeded the Nifty by about 16% over the last 30 days and 80% over the last one year.
Gujarat Alkali has exceeded the Nifty by about 24% on a YoY basis. Gujarat Ambuja Exports , which has exceeded Nifty by about 20% on returns of the last 30 days, has outperformed the Nifty by about 98% over the year. Another example would be Gujarat Borosil , which has 41% returns over and above the Nifty, over the last 30 days.
He added that some stocks, where are seeing a trend reversal, are Gujarat Fluorochemicals, which has underperformed the Nifty by about 40% over the year and outperformed it by 70% over the last one month.
Another stock is Gujarat NRE Coke , which is by far the biggest outperformer, with 272% returns in excess of the Nifty over the year and has underperformed it by 11% over the last 30 days.
Considering a 5 year CAGR or an election to election CAGR, from December 20, 2002, Gujarat GIPCO has given 45% CAGR, Gujarat Alkali has given 69% CAGR, Gujarat Siddhi Cement has given 57% CAGR while Gujarat NRE Coke has given 156% CAGR growth in terms of its returns and GHCL has given 59% CAGR returns. This is compared to the Nifty which has given 40% CAGR returns. So, there is a clear outperformance and these companies are doing extremely well.
He said that Narendra Modi seems to be doing a lot of things right. If one looks at the returns of some of the companies based in his jurisdiction, there has been a clear outperformance on a lot of these companies, if one compares them to the 
