Tata Motors is the best performer stock of 2012
Posted on: 03:14 PM IST Dec 29, 2012
New Delhi: New Tata Motors Ltd is the best performer among Sensex stocks in 2012, helped by hopes for a turnaround in the performance of luxury unit Jaguar Land Rover. Infosys Ltd earns the worst performer status among blue chips, given the persistent concerns about global demand for software services. GAIL, down over 9 per cent and Bharti Airtel, down 7 per cent, are among other losers.
Among other gainers, ICICI, L&T and Maruti shares surged more than 60 per cent, while HDFC Bank and Sun Pharma rose more than 50 per cent. Lenders were the top performers among sectors, with the BSE banking index up nearly 57 per cent. Real estate and fast-moving consumer goods (FMCG) were the next best sectoral performers.
The RBI has held interest rates steady after a 50 basis points rate cut in April, but eased the cash reserve ratio by 175 basis points in 2012, helping banks improve margins. The RBI is also expected to cut the repo rate more aggressively in 2013.