Nifty@6000: Stocks that led the rally

The NSE 50-share Nifty breached the 6000-mark for the first time in two years today. CNBC-TV18's Nigel D'souza analyses stocks that have outperformed since then.

January seems to be the month that Nifty likes most. The Nifty reached 6000 level on January 7, 2011. There has been a vast outperformance from various stocks. Leading the pack is ITC, up nearly 66 percent. ITC has rallied consistently all through 2012. In contrast, Infosys and Reliance Industries are down close to 15-20 odd percent during this period.
ITC close competitor Hindustan Unilever has also done very well during this period. Infosys, in particular, has been performing in stark contrast to heavyweight outperformers. Traditionally, Infosys would have been the heaviest stock on the Nifty. However, it has gradually slid lower and now it currently stands at sixth place. That’s how bad the times have been for something like an Infosys.
Other than the Nifty, stocks that have led the rally is something like an UltraTech Cement, which has more than doubled during this period. Among prominent names featuring on the list are Lupin and Asian Paints.
Remember, all these three stocks have been added into the Nifty in 2012 itself. Auto stocks also are trading at 52-week highs. So Tata Motors, Maruti, as well as Bajaj all are currently sitting at 52-week highs.
On the losing side, capital goods major Bharat Heavy Electricals Limited (BHEL) has lost nearly around 45 percent plus during this period.
Metal sector as well has got absolutely clobbered. So Tata Steel, Hindalco, Jindal Steel and Power Limited (JSPL) — they have all taken a bad beating.
The Nifty currently stands at around 6,000 and banks have outperformed. The stocks are up around 15 percent during the period, and the mid-cap index had also outperformed and it is around 20 percent up.
There are various stocks whose fundamentals continue to be weak, but have got absolute bashing during this period.
The stocks that are down 60 percent plus are: Crompton Greaves, IVRCL, GVK and Jain Irrigation. All have got an absolute badgering and they are down 60 percent plus. All in all the Nifty conquered that 6,000 level and things seem good at the start of 2013.