18 top holdco shares gain 40% so far this year, twice that of Sensex

Holding company discount in India could narrow in the long-run, says HDFC Securities

Shares of several holding companies (holdcos) have rallied sharply this year amid overall buoyancy in the market. 
A holdco is a company that doesn’t conduct any business operations but holds stakes in other companies, typically belonging to the same group.

Shares of Bajaj Holdings & Investment, which holds stakes in firms such as Bajaj Auto and Bajaj Finserv, have rallied 75 per cent this year.

Meanwhile, RPG Group holding companies — RPSG Ventures and STEL Holdings — have soared over 2.4x.
 
The average gain posted by 18 leading holdcos this year is 40 per cent — nearly