Two of the Tata group biggies—Tata Motors and TCS—emerged as the biggest gainers in 2010-11 fiscal rewarding shareholders with returns of 65% and 52%, respectively. Indeed Indian IT majors emerged as favourites with investors after signs of recovery in the global economy with HCL and Infosys also featuring in the list of top gainers, giving returns of 34% and 24%, respectively.
Sensex gained 11% during the year to close at 19,445.22 while the broader Nifty rose a tad more at 11.4% to 5,833.75. Foreign Institutional Investors (FIIs) were buyers for the better part of the year till December 2010, after which they turned sellers in January and February. In March, however, they turned buyers again.
Investors were also wowed by the tremendous turnaround of Tata Motors’ Jaguar and Land Rover business as the marquee brands cashed in on a reviving luxury car market and helped the company report profits. The auto stock saw an 87% jump in its market capitalisation in 2010-11.
www.indianexpress.com
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