Launch of an earlier Falcon SpaceX rocket. (Source: Spacex)

The Stocks That Surged The Most In 2017 (And Why)

The NSE Nifty 500 Index outperformed India’s 50-stock benchmark this year. The broader index gained about 36 percent compared to 28 percent rise in NSE Nifty 50 as of Dec. 22. BloombergQuint picks five companies from the top 500 companies—with a market value of at least Rs 100 crore—that were among the best performers…

The Stocks That Surged The Most In 2017 (And Why)

HEG (And Graphite India)

HEG Ltd., the maker of graphite electrodes, surged more than 1,200 percent. Its rival Graphite gained over 800 percent. The spike came after China shut down polluting steelmakers, triggering a shift towards electric arc furnaces that use graphite electrodes. Rising demand pushed up graphite electrode prices and spreads between electrode and needle coke, the raw material in traditional steelmaking, widened. Research house Jefferies sees the current spreads to more than double to $3,000 a tonne.

Indiabulls Ventures

The second largest company by market cap of the Indiabulls Group surged 1,215 percent this year, driven by its growing consumer finance business. The company launched the Dhani app to ensure faster disbursement. It also roped in cricketer MS Dhoni as a brand ambassador.

Weizmann Forex

The moneychanger that also provides demand draft, insurance, mutual funds, gold and money transfer services gained more than eightfold. The promoter group, led by Chetan Mehra, owns 74.8 percent in the company that counts stock picker Mukul Agrawal and portfolio manager Girik Wealth among investors. The company recently hived off its wind division to focus on the international money transfer business.

Bhansali Engineering

Bhansali Engineering Polymers Ltd., the maker of absolac plastic resin used to make automobile parts and appliances, has surged 678 percent. It operates in a duopoly with only one competitor—Ineos Styrolution Ltd. In India, demand exceeds supply. The two companies can only meet half the demand in India, and the rest is imported. The company is planning to increase capacity and has tied up with Japan’s Nippon A&L.

Goldstone Infra

Shares of the country’s largest maker of composite insulators, used in electric transmission, rose 666 percent after it rolled out its electric bus in the quarter ended September. A warrant issuance to promoters and some high net-worth individuals added to the rally. The bus business contributes 25 percent of the revenues but only 5 percent of the operating income.