Largecaps In Snippets Amid Record Market: 2 Tata, L&T HDFC, ONGC Stocks M-Cap Rises 18-40% In H2 Of 2023

In a nutshell, large-cap companies witnessed double-digit growth amidst record high performance of benchmarks. Six large-cap stocks have been top performers with their average market cap rising in the range of 18% to over 40% in six months. Tata Motors is the top winner, alongside another Tata Group-backed share Titan. While Larsen & Toubro (L&T) has seen huge defence deals, and largest lender HDFC Bank were among the top 3 gainers. Other stocks that saw huge upside were Bharti Airtel and Bajaj Finance.

If you have held any of these large-cap stocks for the past six months, then you have made huge returns in your portfolio.

From July to December 2023 period, the market cap of large-cap stocks was up by 11%, as per Geojit data. It added, that among the Largecap set, companies in the 51 to 100 cluster grew higher at 19.9% (like the previous 6M block), followed by Companies in the 31 to 50 cluster, which was up 11.7%. Top-10 companies grew by 7.3%.

Here is the list of large stocks whose market cap has risen massively in the last six months of 2023, as per Geojit:

1. Tata Motors:

This Tata-backed auto giant has been a megahit of 2023. Not only being the only Nifty stock to double and give more than 100% returns in 2023, Tata Motors has seen a huge upside in its market cap and share price for the past six months.

By the end of December 2023, Tata Motors m-cap was at Rs 2,36,483 crore, having a weightage of 1.1% in total market cap of companies. The stock's rank has risen for the past 3 years. From the December 2020 quarter, where Tata Motors was the 66th valued company, has continued to climb the ladder to 35th rank between December 2021 and December 2022 quarter, to 30th rank by the end of June 2023 quarter, and to 24th position by December 2023 end.

Tata Motors' market cap has surged by a whopping 41% in H2 of 2023. In 2023 overall, m-cap has climbed by 53.5%.

2. Larsen & Toubro (L&T):

Top performing stock will be L&T which has also made a significant jump in its market cap over the past three years.

In six months, L&T's market cap surged by 31%, totalling Rs 4,09,899 crore by the end of December 2023. In a year, the m-cap surged by 51.6%.

L&T's m-cap has been rising consistently, shifting the company's rank to 12th position by the end of 2023, compared to 14th rank by the end of June 2023 period, 19th rank by December 2022 period.

In 2023, L&T saw huge buying amidst a strong rally in defence stocks. L&T remains at the forefront to reap benefits from the AtmaNirbhar Bharat scheme with its diversified businesses across sectors such as defence, infrastructure, heavy engineering and IT and is the best proxy for domestic capex.

3. HDFC Bank:

Maintaining its leadership in the banking sector and continuing to be the third largest company in India in terms of market share, HDFC Bank was the third-best-performing large-cap stock in July-December 2023.

By the end of the December 2023 quarter, HDFC Bank's m-cap was at Rs 11,79,522 crore, with a weightage of 5.7% in the total market cap. HDFC Bank's market cap surged by 29.8% in six months, and up by 41.7% in a year. It has continued to hold third rank for the past three years.

4. Titan Company:

Another Tata stock, Titan has continued to be the leader in the gems and jewellery sector. By the end of December 2023, Titan's m-cap stood at Rs 2,87,193 crore, with a weightage of 1.4% in the total m-cap, and climbing to 18th rank from earlier 22nd rank in the June 2023 quarter and 26th position in December 2022 quarter.

In six months, Titan's m-cap surged by 24.4%, while in a year, the upside is at 28.2%.

5. ONGC:

India's leading oil and gas explorer, ONGC's market cap stood at Rs 2,31,916 crore by the end of December 2023, which will be an upside of 18.9% in six months and 36.7% in a year. Although ONGC was the 25th most valued company by the end of 2023, its spot has upped from 27th rank by June 2023-end and 31st rank which was the case by December 2022-end.

The top 3 most valued firms in India continue to be Reliance Industries, Tata Consultancy Services (TCS) and HDFC Bank. However, there were huge shifts after that in the top 10 most valued firms. For instance, ICICI Bank has climbed to become 4th most valued firm after being at sixth rank by the end of December 2022, while Hindustan Unilever (HUL) continue to be the fifth most valued firm since December 2021 to now.

Furthermore, ITC and Bharti Airtel have gained 7th and 8th rank by the end of H2 of 2023 versus their ranks of 8th and 10th in H1. Also, Bajaj Finance became the 10th most valued firm in H2, after its position declined to 11th rank by the end of the June 2023 quarter, and reached back to the same level as of December 2022. While Infosys rank stayed at 6th throughout 2023, after slipping from 4th rank which was the case by the end of December 2022. However, SBI has seen a huge decline in its market cap, and shifted to 9th rank by the end of December 2023, versus 7th rank in H1.