Mumbai: As many as 25 companies, including Reliance Industrial Infrastructure, Ruias led-Essar Oil and ABG Shipyard, soared over 50% in the last seven trading days on the Bombay Stock Exchange (BSE).
As per an analysis of the top 25 gainers in the market rally from 30 March to 9 April, the top two firms - Reliance Industrial Infra (RIIL) and Webel SL Energy have surged over 100%, increasing their promoter wealth by as much as Rs367.52 crore and Rs17.91 crore, respectively.
However, most of the gainers have relatively smaller capitalisations compared to the blue-chip stocks.
Mukesh Ambani Group firm RIIL, which gained a whopping 189% in the last seven trading sessions, helped its promoter Reliance Industries gain Rs367.52 crore. RIL held 45.43% stake in the company for the quarter ended December, 2008.
The RIIL scrip surged to Rs819.50 on 9 April, gaining over three times from Rs283.75 on 30 March on the BSE.
RIIL rose sharply on speculations of company’s merger with its promoter and rumours that RIIL might help RIL transport natural gas after Reliance Industries began the gas production from its KG-D6 block.
Among the 25 gainers, Webel SL Energy, HDIL, Essar Oil, ABG Shipyard and Jindal South West Holdings helped their promoters to gain considerably.
Integrated oil and gas company Essar Oil advanced 84.44% in seven days, adding Rs1,318.79 crore to its promoters’ kitty.
Real estate company Housing Development & Infrastructure surged 51.72% during the reviewed period making its promoters richer by Rs686.99 crore at the end of Thursday’s trade last week.
For the quarter ended March 2009 the promoter group held 61.50% stake in the company.
Webel SL Energy Systems, a leading producer of solar photo voltaic cells, rose nearly two-fold to Rs118.80 on 9 April. Its promoters became rich by Rs17.91 crore in the period following the surge in the stock.
Ship builder ABG Shipyard added Rs162.54 crore to promoters wealth after surging nearly 80% in the last seven trading days. Non-banking financial company Jindal South West Holdings gained 67.15%, raising its promoter group’s wealth by Rs104.17 crore.
Interestingly, the BSE 30-share benchmark index Sensex which gained 1,235.72 points in the last seven trading days added over Rs1.82 lakh crore to the investors’ wealth.
Other top gainers during the previous week included Anant Raj Industries (65.65%), Jai Corp (65.07%), Aishwarya Telecom (61.4%), Megasoft (57.62%), Gitanjali Gems (56.97 %) and Birla Capital & Financial Services ( 55.78%).