PM Narendra Modi turned 75 on Wednesday. Under his leadership, stock indices – a proxy for the state of the economy, have tripled, and at least 478 listed stocks have delivered over 1,000 per cent returns in 11 years.
Born on 17 September 1950 in Vadnagar, Gujarat, PM Modi assumed office on June 5, 2014, and has since pushed through landmark reforms including GST, PLI schemes, the renewable energy push, the Insolvency and Bankruptcy Code (IBC), Atmanirbhar Bharat, and the semiconductor mission.
During his tenure, the NSE benchmark Nifty rose 3.4 times, from 7,474.10 to 25,327.25, while the BSE Sensex climbed 3.3 times, from 25,019.51 to 82,380.69. Market capitalisation of Indian equities surged to Rs 4,64,63,247 crore today, up from Rs 86,79,983 crore in June 2014, as per data compiled with corporate database AceEquity.
Hundreds of stocks have delivered massive gains under his leadership. Notable examples include Bajaj Finance Ltd (up 4,522 per cent), Bajaj Finserv Ltd (2,119 per cent), Titan Company Ltd (1,002 per cent), Bharat Electronics Ltd (2,136 per cent), Trent Ltd (4,532 per cent), TVS Motor Company Ltd (2,576 per cent), Bajaj Holdings & Investment Ltd (1,040 per cent), and Britannia Industries Ltd (1,287 per cent). Other gainers included Cholamandalam Investment and Finance Company Ltd (2,007 per cent), Solar Industries India Ltd (4,479 per cent), Muthoot Finance Ltd (1,360 per cent), Torrent Pharmaceuticals Ltd (1,054 per cent), SRF Ltd (2,893 per cent), and Persistent Systems Ltd (1,990 per cent). For study, only those stocks were concerned, which were listed in 2014.
The Modi government’s focus on manufacturing and the ‘Make in India’ initiative lifted the BSE Industrial index and the BSE Capital Goods index by 464 per cent and 342 per cent, respectively. The BSE PSU index more than doubled, up 124 per cent.
Guided by the mantra “Reform, Perform, Transform,” his government has spearheaded major reforms in FDI, abolished over 40,000 redundant compliances, scrapped more than 1,500 outdated laws, and simplified numerous others through parliamentary amendments.
The Income Tax Act has been overhauled, with more than 280 sections removed. Faster income tax refunds, cashless assessments, and exemptions for income up to Rs 12 lakh have provided relief to middle-class families.
Reform is a continuous process; reforms must be undertaken as per the demands of the times and prevailing circumstances, PM Modi said in August.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.