Ahmedabad: Gujarat Gas Limited Market Capitalization (GGL) across Rs 50,000 Crore on Friday.
With this, five companies based in Gujarat have reached this historical milestone in 2021 behind a strong rally in their stock price.
Apart from Gujarat’s GGG, four other companies to make it reach Hospital 50,000 Crore and more M-Cap Club this year is Cadila Healthcare Ltd, Torrent Pharmaceuticals Ltd., Adani Total Gas Ltd (ATGL) and Adani Transmission Ltd (ATL)).
The number of Gujarati companies at the downloaded club has more than doubled by 2021 by soaring the equity market.
Before the current calendar year, a company that has a market limit above Rs 50,000 Crore includes people such as Adani Enterprises Limited (AEL), Adani Green Energy Limited and Port Adani and Special Economic Zone (APSEZ).
Most of these companies have registered a market limit of more than RS 50,000 Crore this year comes from the distribution of city gas (CGD) and the pharmaceutical sector.
“CGD players such as GGGL and ATGL have benefited from the increase in demand and consumption of natural gas, while pharmaceutical companies have been obtained from demand growth after the Covid-19 pandemic,” said Nilesh Box, a city-based stock analyst.
“The share price of Cadila Healthcare almost doubled within a year after its strong finances and development related to the Covid-19 vaccine,” said Aasif Hirani, Director at a Ahmedabad-based brokerage company.
‘Covid helped almost all the pharmacy Cos’aasif Hirani, director of a brokerage company based in Ahmedabad, “Cadidla Healthcare is one of the indigenous companies to start clinical trials in children for covid vaccines.
Covid has helped almost all pharmaceutical companies.” “Compared to other pharmaceutical companies, Torrent Pharma has performed poorly because the total income growth is inconsistent.
However, the EBITDA margin is expected to increase with the resurrection in the US and Brazil business along with several new products launched,” Hirani added.
While GGL, ATGL and ATL have entered Rs 50,000 Crore and more M-Cap Club for the first time, Torrent Pharma has seen the cross stamp the sign of the sign for a short period of last year and Cadila Healthcare witnessed that occurred a few years ago.