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Top 10 stocks that hit gold in FY18

Amir Shaikh
/ Categories: Mindshare, Markets
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On the last trading day of fiscal year 2018, on Wednesday, the market closed negative. During FY18, the benchmark index Sensex has gone through various jolts, but despite this, the Sensex has delivered a 14.3 per cent growth in the fiscal year 2018.

In FY18, the market saw many developments such as implementation of GST which is seen as the biggest tax reform in India. We believe introduction of GST will act as catalyst in shifting of unorganised to organised segment. Also, this will increase the number of taxpayers.

On the other hand, in Union Budget 2018, the finance minister imposed long term tax gain on profit of more than Rs. 1 lakh which added volatility in the market. The market has not even recovered from the jolt of LTCG imposition, while the global factors added strain to the domestic market such as decrease in unemployment rate in US, which pushes for faster interest rate hike by Federal Reserve. Moreover, the US President Donald Trump announced trade war with major economies in the world which resulted in sell-off across the global stock markets.

Meanwhile, the pile-up of banking NPA and frauds coming to forefront has further strained the banking sector. Due to these investors are trying to stay away from banking stocks, especially PSU banks.

However, even as the market faces brunt of several issues, some stocks rose significantly in the fiscal year 2018 ignoring all the noise in the market. We have shortlisted top 10 stocks (above Rs. 1,000 crore market cap) which delivered stellar returns in FY18. 

We also tried to find which sectors outperformed in FY18 and Consumer durable outpaced the broad market indices with around 47 per cent of return.

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