Multinational companies stole the show on the Indian bourses outperforming domestic stocks in 2005 and in every 1000-point rally that the Sensex has had in the current calendar year.
The 51 MNCs, under review here, averaged 52.4 per cent returns during the year 2005 so far vis-a-vis 46.35 per cent by the Sensex and 40.29 per cent by BSE-500 companies.
The MNC stocks had appreciated 18 per cent during the 6000-7000 Sensex run between January and June 2005, compared with 16 per cent by the Sensex and 12.8 per cent by BSE-500.
During the benchmark index's run from 7000 to 8000 (June-August 2005) BSE-500 with 16.9 per cent returns edged out MNCs that generated 16 per cent returns and also the Sensex, which appreciated just 13.8 per cent.
Again the Sensex historic run from 8000 to 9000 was marked with relatively lower gains by all the three groups, with MNCs having registered 11.36 per cent gain, followed closely by the Sensex with 10.91 per cent gain and by BSE-500 at a distant 6.38 per cent appreciation.
The major gainers among the MNC stocks were the ones traded under the capital goods sector. Three engineering companies - ABB that gained 114 per cent, Areva T&D India (formerly Alstom Ltd), which zoomed 367.7 per cent, and Siemens, which appreciated 161.7 per cent, stole the limelight having gained more than 100 per cent and scaled all-time highs during the calendar year.
BOC, gaining 216 per cent; Bata India, moving up 126 per cent; Gujarat Gas, soaring 123.6 per cent; and Sesa Goa, appreciating 137.7 per cent, also contributed to MNCs' overall gains till November 2005.
Multinational firms put up a good show across almost all sectors. They registered over 100 per cent rise in market capital in eight sectors including industrial gases (216.61 per cent), electronics (158.25 per cent), mining (137.56 per cent), electrical equipment switchgear/relay (132.07 per cent), leather footwear (126.03 per cent) and gas distribution (123.55 per cent).
Market cap of the eight companies fielded by the pharmaceutical industry grew 34.31 per cent. In the personal care sector, market cap of Hindustan Lever, Colgate Palmolive and Procter & Gamble rose 35.06 per cent.
