Mad run on Dalal street with shares sprinting with pace of cheetah

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Insurance companies are spurting with unseen speed for several months. New India Assurance share price has risen by close to 40 per cent in just five days. General Insurance Corporation has also risen by close to 20 per cent in just five days.

Bombay Stock Exchange on Diwali evening

Bombay Stock Exchange on Diwali evening

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By S Jha

New Delhi, November 27: There appears a mad run in the equity market with investment giving steady and fast returns in quick time. This was apparent as investors locked a whopping Rs 2.6 lakh crore in the IPOs of five companies last week which included the likes of Tata Technologies and IREDA.

Avantel has been on a furious run on the bourses. It was locked in a 10 per cent upper circuit after the share went ex-bonus on Friday. In one month, Avantel share price has risen by almost 24 per cent. This company has turned a multi-bagger, having multiplied by several times in the last one year.

Insurance companies are spurting with unseen speed for several months. New India Assurance share price has risen by close to 40 per cent in just five days. General Insurance Corporation has also risen by close to 20 per cent in just five days. Life Insurance Corporation has also woken up after several months as the share price has gained almost 10 per cent in just five days.

Power sector companies are also buzzing on the stock market. Power Finance Corporation share price has risen by 30 per cent in the last one month. Its peer in the renewal sector IREDA will be listed on November 29 with much higher valuation as per the market analysts. Rural Electrification share price has also risen by 21 per cent in the last one month.  

Among the largecap shares which are not to run so fast, Hero Motocorp is seen running fast as the share price of the two-wheeler manufacturer has gone up by 14 per cent in the last one month. Bajaj Auto has also given a return of 11 per cent in the last one month. At the same time, Newgen Software share price has doubled in the last six months.

Onelife Capital has also gained 30 per cent in just five days. It also has one of the worst fundamentals with returns on capital employed and equity are almost negative. The company is engaged in advisory services.

RattanIndia Enterprises has gained almost 19 per cent in the last five days. The company is engaged in several unrelated bunsinesses and the fundamental such as return on equity and capital employed are worst among the healthy listed companies.

GG Engineering Limited has given a return of 50 per cent in just five days. The company is engagedin trading of steel and metal. It is counted among the penny stocks. It has 11 per cent and 12 per cent of returns on capital employed and equity respectively.

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