101 BSE stocks now in Rs 1 trillion market cap club; RVNL, MDL new entrants

RVNL, MDL, Samvardhana Motherson International, Cummins and Indus Towers, have joined the elite club in CY24; These stocks have surged up to 174% thus far this year.

The number of stocks with market cap in excess of Rs 1 trillion crossed the 100-mark after a strong rally in large and midcap stocks in the calendar year 2024 (CY24) on the back of domestic inflows.

Currently, 101 companies command a market cap of over Rs 1 trillion, as compared to 74 companies at the end of the calendar year 2023. As many as 29 companies have joined the elite club thus far in CY24. However, Adani Total Gas and Shree Cement’s market-cap fell below Rs 1 trillion during this period.

Rail Vikas Nigam (RVNL), Mazagon Dock Shipbuilders (MDL), Samvardhana Motherson International, Cummins India and Indus Towers, which joined the elite club, have seen their market price more-than-double, zooming up to 174 per cent thus far in CY24.

 

ABB India, Vodafone Idea, Vedanta, Solar Industries, JSW Energy, NHPC, Zydus Lifesciences, Bosch, CG Power & Industries, NHPC, Bharat Heavy Electricals (BHEL) and Macrotech Developers (Lodha) were among other notable companies that entered the Rs 1 trillion market cap club in 2024. Share price of these stocks have appreciated in the range of 50 per cent to 90 per cent.

Thus far in CY24, BSE Midcap and BSE 500 index have rallied 28 per cent and 18 per cent, respectively. In comparison, the BSE Sensex was up 10 per cent.

Among individual stocks, RVNL joined Rs 1 trillion club on Friday as the stock zoomed 19 per cent on the BSE in intra-day trades after the company announced that it inked a memorandum of understanding (MoU) with Delhi Metro Rail Corporation Limited (DMRC). Thus far in CY24, the stock has skyrocketed 174 per cent.

At 01:35 pm; with Rs 1.03 trillion market cap, RVNL was up 18 per cent higher at Rs 495.85, as compared to 0.34 per cent decline in the BSE Sensex. The average trading volumes at the counter jumped five-fold. A combined 125 million shares changed hands on the NSE and BSE.

RVNL is engaged in the business of implementing various types of rail infrastructure projects assigned by Ministry of Railways (MoR) including doubling (including 3rd/4th lines), gauge conversion, new lines, railway electrification, major bridges, workshops, Production units and sharing of freight revenue with Railways as per the concession agreement entered into with MoR.

RVNL has successfully constructed major workshops for Indian Railways in fast track mode. RVNL can thus undertake implementation of large buildings, factories, townships etc. for other agencies as well. With RVNL’s growth as a major provider of a variety of rail infrastructure, there is an opportunity of securing rail infrastructure projects overseas.

MDL stock, another PSU company, has zoomed 157 per cent thus far in CY24. Currently, the market cap of MDL stands at Rs 1.15 trillion, the BSE data shows.

MDL on June 26 announced that it bagged "Navratna" status, the first shipyard to achieve this status, from the Department of Public Enterprises. MDL is now the 21 Navratna Central Public Sector Enterprises (CPSE) in the country and 3rd in defence public sector undertakings (PSUs).

MDL said it achieved this feat owing to its strong legacy of technical proficiency in Warship and Submarine building and a workforce with professional acumen, innovative spirit and unmatched performance that has elevated the growth of the company to new heights.

MDL is engaged in the construction and repair of submarines and warships for the Ministry of Defence, Government of India (MoD) for use by the Indian Navy and other vessels for commercial clients.

MDL is a strong contender for major future projects of Indian Navy, Indian Coast Guard and Overseas Clients. Some of the identified major Business Opportunities where MDL is a strong contender are 5 in numbers Next Generation Destroyers, Project P75(I) conventional Submarine 6 in numbers.

As per the national perspective plan of Sagarmala project, Coastal and Inland Waterways traffic is expected to shoot up 15 times over the next 20 years. Similarly, capacity augmentation is expected to result in a five times rise in traffic capacity, from the existing 350 million tonnes. This is expected to bring in additional ship repair business, MDL said.