Top 5 Performing Stocks Since Last General Election

The 17th Lok Sabha election in India was conducted in seven phases from April 11, 2019, to May 19, 2019, by the Election Commission of India. On May 31, 2019, Mr. Narendra Modi was sworn in as the Prime Minister for the second time. Exactly five years have passed since then. Here, we endeavor to examine how the Indian stock markets have performed during the second term of Prime Minister Modi’s tenure and identify the top-performing stocks.

Market Performance Overview

The Nifty 50 index delivered a staggering return of nearly 94% despite the backdrop of the Covid pandemic and geopolitical issues. This indicates that patience is always rewarded in the market, and noise only impacts short-term sentiments. Meanwhile, the Bank Nifty underperformed during the period from April 2019 to April 2024, recording gains of 62.35%. Interestingly, Nifty Realty and Nifty Metal emerged as the top two performing sectors, with gains of 247% and 192%, respectively. The only sector that logged a negative return is Nifty Media.

Top Performing Stocks from Last General Election

Moving on to stock-specific actions, we have considered the performance of stocks from the Nifty 500 universe. Among these, the top-performing stocks from the last Lok Sabha election to the start of Lok Sabha Election 2024 are as follows:

1. Adani Green Energy (ADANIGREEN)

The stock of Adani Green Energy has gained more than 5000% in the last five years. Adani Green Energy (AGEL) is one of the largest renewable energy companies in India, with a current project portfolio of 20,434 MW.

2. Jai Balaji Industries (JAIBALAJI_T)

Jai Balaji Industries is the flagship company of the Jai Balaji group and is at the second spot with gains of over 3000%. Jai Balaji Industries is primarily engaged in the manufacturing of various value-added products of Ductile Iron Pipes (DI Pipes) and Special Grade Ferro Alloys.

3. Tata Teleservices (Maharashtra) (TTML)

TTML (Tata Teleservices Maharashtra Ltd) stands at the third spot with gains of over 2400%. It is a leading player in the connectivity and communication solutions market for SMEs.

4. RattanIndia Enterprises Limited (RTNINDIA)

RattanIndia Enterprises Limited (RTNINDIA) stands at the fourth spot with gains of over 2200%. RattanIndia Enterprises serves as the growth engine of the RattanIndia Group dedicated to pioneering new-age businesses.

5. Adani Enterprises (ADANIENT)

Adani Enterprises has gained more than 2200% during the second term of the Prime Minister Modi Government. It made a strong comeback after facing allegations including cooking books of accounts and other malpractices.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.