The year 2024 has been remarkable for Indian equities, with 26 firms crossing or regaining the ₹1 lakh crore market capitalisation mark. This achievement comes amidst a robust performance by major indices, as the BSE Sensex climbed nearly 10% year-to-date, while the BSE Midcap and Smallcap indices surged 29% and 32%, respectively.
Here’s a detailed look at the standout performers and their future outlook:
Vedanta: Leading the Charge
- Market Cap Growth: From ₹96,089 crore (Dec 29, 2023) to ₹1.92 lakh crore (Dec 19, 2024), a staggering 90% increase.
- Key Drivers:
- Diversified portfolio across zinc, lead, silver, copper, aluminium, iron ore, oil & gas.
- Operations in India and international markets like South Africa, UAE, and South Korea.
- Strategic Initiatives:
- Capacity expansion in aluminium.
- Vertical integration and maintaining cost leadership in zinc production.
- Planned demerger into six sector-focused entities.
- Outlook: Equirus Wealth has a bullish target price of ₹560 by March 2026.
ABB India: Engineering Growth
- Market Cap Growth: Jumped 57% YTD to ₹1.56 lakh crore.
Macrotech Developers (LODHA): Real Estate Star
- Market Cap Growth: Rose by over 48% to ₹1.47 lakh crore.
- Future Plans:
- Accelerated residential growth with over 20% momentum.
- Value unlocking in Palava City.
- Brokerage Target: ₹1,851 by Antique Stock Broking.
Indian Hotels Company: Accelerate 2030 Strategy
- Market Cap Milestone: Surpassed ₹1 lakh crore in 2024.
- Future Targets:
- Double consolidated revenue to ₹15,000 crore.
- Expand portfolio to over 700 hotels.
- Invest ₹5,000 crore in new and existing assets.
- Brokerage View:
- Elara Capital has a target price of ₹795.
- Expects EBITDA margins near 40%.
Dixon Technologies: Manufacturing Excellence
- Market Cap Growth: Grew 183% to ₹1.11 lakh crore.
- Key Developments:
- Joint venture with Vivo India for OEM business, including smartphones.
- Capacity expansion to manufacture 50 million phones annually.
- Outlook: Anand Rathi predicts a target price of ₹21,875.
Other Notable Gainers
- Oracle Financial Services Software: 205% growth in market cap, now at ₹1.11 lakh crore.
- Mazagon Dock Shipbuilders: 121% YTD growth, market cap at ₹1.02 lakh crore.
- Bharat Petroleum Corporation (BPCL), JSW Energy, Torrent Pharmaceuticals, and Max Healthcare Institute: Achieved significant growth and crossed the ₹1 lakh crore milestone.
Summary
| Company | Market Cap Growth (YTD) | Key Drivers | Future Outlook |
|---|---|---|---|
| Vedanta | 90% | Diversified portfolio, capacity expansion, demerger | ₹560 target by March 2026 (Equirus Wealth) |
| ABB India | 57% | Engineering excellence | Positive momentum |
| Macrotech Developers | 48% | Real estate growth, Palava City value unlocking | ₹1,851 target (Antique Stock Broking) |
| Indian Hotels Company | Over ₹1 lakh crore | Accelerate 2030 strategy, 700+ hotels planned | ₹795 target (Elara Capital) |
| Dixon Technologies | 183% | OEM partnerships, manufacturing expansion | ₹21,875 target (Anand Rathi) |
| Oracle Financial Services | 205% | Digital transformation solutions | Sustained growth outlook |
| Mazagon Dock Shipbuilders | 121% | Defense contracts, infrastructure growth | Robust industry prospects |
Conclusion
The journey of these companies in 2024 exemplifies resilience and strategic growth across industries. With robust plans and positive outlooks, several of these firms are well-poised to maintain their momentum in 2025. Investors are advised to keep an eye on these top performers, as they continue to shape India’s economic landscape.
Disclaimer:
This article is for informational purposes only and does not constitute financial or investment advice. Readers should consult with a qualified financial advisor before making any investment decisions.
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