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Top 10 stocks that created excellent returns in 2017
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• Top 10 stocks that created excellent returns in 2017
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The bulls came out in full force on Dalal Street in 2017, lifting benchmark equity indices Sensex and Nifty over 25 per cent each.
As a result, over 450 stocks from across sectors soared more than 100 per cent on BSE in last 12 months.
A couple of factors supported the benchmark equity indices in 2017, including back-to-back wins for the BJP in key states, including India's most populous state Uttar Pradesh and Prime Minister Modi's home state Gujarat.
India's sovereign rating upgrade by Moody's Investors Service for the first time since 2004 and robust liquidity further supported the market.
The following are top 10 stocks which have provided excellent returns in the year 2017
Graphite electrode manufacturer HEG stood out as the biggest wealth creator of 2017 on Dalal Street, with 1,381 per cent rise from Rs 150 on December 30 last year to Rs 2,221 on December 28, 2017. Fortunes of the graphite electrode sector have witnessed sudden change as spot prices of graphite electrodes registered a significant rise over the past few months.
The key triggers have been consolidation of the graphite electrode market globally, shutdown of around 20 per cent of global graphite electrode capacity (excluding China) in last three years, an increase in steel production through the EAF route (outside China) and an increase in steel prices in global markets.
Indiabulls Ventures (up 1,180 per cent), SORIL Holdings (up 1,020 per cent), Graphite India (up 830 per cent, Weizmann Forex (up 733 per cent) and Bhansali Engineering (up 732 per cent).
Among others, shares of Goa Carbon, Yuken India, Frontier Springs, Goldstone Infratech, Mohota Industries, Rain Industries, Jindal Worldwide and Venky's India have advanced between 550 per cent and 720 per cent since December 30 last year.