Trillion MCap Club: Market's new century...
Trillion MCap Club: Market's new century...The local stock market is showing signs of sustained rallying. Since the start of the year, the BSE Sensex has gained strength by almost 10%. In the last month alone, the Sensex has increased by 10,000 points. Other indexes are rising as well because the market surge is widespread. This surge is helping the publicly traded companies, and as a result, their value is rising quickly.MCAP club with over 1 lakh crore in assetsThe number of businesses having a market data-size of more than Rs 1 lakh crore on the BSE has topped 100 for the first time in history thanks to the robust surge in large- and mid-cap equities this year. Based on available market data, there are now a minimum of 101 companies that are listed on the BSE with a market value over Rs 1 trillion, or Rs 1 lakh crore.This year, 29 firms joined.This year has seen a sharp rise in the number of companies reaching the Rs 1 lakh crore mcap club. There were 74 of these firms listed on the BSE at the end of the previous year. 29 companies have joined the Rs 1 lakh crore mcap club thus far in 2024. On the other hand, a few businesses have also experienced losses and were forced to quit the club. There are two of these businesses. As a result, there are currently 101 of these businesses overall.In 2024, these two businesses were removed from the list.Adani Total Gas and Shree Cement are the two companies that had to leave the lakh crore mcap club between january and now. Their mcap has been impacted by the decline in both companies' share prices. Conversely, Mazagon Dock Shipbuilders and PSU rail Vikas Nigam Limited are two of the new businesses joining the group. With the addition of these two multibagger PSUs, the trillion rupee club now boasts a century of members.These companies' market capitalization has doubled.Rail Vikas Nigam (RVNL), Mazagon Dock Shipbuilders (MDL), Samvardhan Madrasan International, Cummins India, and Indus Towers are the companies whose market caps have grown the fastest this year. Thus far in 2024, the value of these companies has more than doubled. As of now in 2024, their share prices have increased by as much as 174%.