During the last few months, stocks of multinational companies (MNCs) have outrun the broader markets by gaining up to 100 percent. The Nifty MNC index has gained 29 percent from its March lows, as against 26 percent rise in the Nifty 50 index till Friday. Even on a year-to-date (YTD) basis, the fall in the Nifty MNC index at 9.4 percent is less than the Nifty50 index, which slipped 21.3 percent during this period.
Vodafone Idea, Oracle Financial Services, Sterlite Technologies, Britannia Industries, Sterlite Technologies, Nestle India, Honeywell Automation, Maruti Suzuki India, United Spirits and Ambuja Cements from the Nifty MNC index have rallied over 30 percent. GMM Pfaudler, Bayer Crop Sciences, and AstraZeneca Pharma India are some of the non-index MNC stocks that have rallied between 60 percent and 90 percent during this period.
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