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Companies commit to invest 25L cr in Gujarat

AHMEDABAD: Financial year 2014-15 was good for stock markets but it was better for over two dozen Gujarat-based companies, which outperformed the sensex .After hitting an all-time high of 30,024.74 on March 4, sensex settled at 27,975.86 on March 30, 2015 – it rose 5589.59 points or 24.96% (close on Monday) from its close of 22,386.27 on March 31, 2014.Shares of top Gujarat companies have risen in the range of 55% to 725% during the current financial year, which ends on Tuesday.Hitachi Home, which has a registered office in Ahmedabad, saw its share price jumping from Rs172.60 on March 31, 2014, to Rs1,424.25 on March 30, 2015, an increase of a whopping 725.15%. Share prices of Asian Granito India, Sadbhav Engineering and Symphony rose by 356.81%, 259.92% and 258.45% respectively. Large corporates like Adani Enterprises, APSEZ, Cadila Healthcare, Zydus Wellness, Torrent Power and Pharma as well as AIA Engineering too have offered handsome returns to their shareholders.Apart from largely benefiting from overall rally in the stock markets, the Gujarat-based companies have had advantage of stable government and industry-friendly policies.“Good infrastructure and product portfolio, among other things, are major drivers for the growth of Gujarat firms. As a result, many companies have outperformed sensex,” said Nilesh Kotak, a city-based stock broker and analyst. “Gujarat has emerged as preferred investment destination for corporates and because of industry-friendly policies, Gujarat-based companies are expected to grow consistently,” says another broker.Ford drives in, Gujarat turns into auto hub