It was January 2008 and Indian stock market was on a bull run. But just months after hitting a record high on January 10, 2008, India’s benchmark index, the Sensex, slumped more than 60 percent by October to a low of 7,697, coupled with the global financial crisis.

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Cut to 2018, the Sensex breached the psychological level of 36,000 mark and achieved a new high.

Along with the recovery in the benchmark index, many stocks witnessed a massive capitalisation shift in this ten-year period.

These stocks raced from being a smallcap stock to the bigger league - largecap stocks.

Largecap stocks are the shares with large market capitalisation. Usually, more than Rs 20,000 crore and sub-Rs 5,000 market capitalisation stocks are categorised as smallcaps.

Below is a list of five companies, which have significantly grown in the last ten years and moved from the smallcap to largecap category.

Bajaj Finance, the non-banking finance company, part of the Rahul Bajaj-led Bajaj Group, not only outperformed the Sensex during June 2008-18 period, but its market capitalisation also increased 272 times from Rs 488 crore at the end of June 2008 to Rs 1.33 lakh crore as on July 2, 2018.

The Sensex moved up 172 times from 12,962 to 35,265 during the same period.

Bajaj Finance is now the 19th most valued listed company in India by market capitalisation as on Wednesday.

Similarly, Eicher Motors, the parent company of Royal Enfield motorcycles, also engaged in manufacturing of commercial vehicles also witnessed its market capitalisation moving up by more than 100 times during the same period.

Like Bajaj Finance, Eicher Motors is also among the 50 most valued listed companies in India at 42.

Eicher Motors was followed by innerwear maker Page Industries, which has the license to manufacture apparels under the brand name ‘Jockey’, two-wheeler manufacturer TVS Motors and Hyderabad-based generic medicines and active pharmaceutical ingredients manufacturer, Aurobindo Pharma.

The stocks of these companies also moved from smallcap to largecap during the same period.

First Published:Jul 12, 2018 1:38 PM IST