Primex 40 Index Hits Record High: Outperforms Nifty 500 Multicap in H1 2024

New Delhi (India), May 28: The Primex 40, an index tracking the performance of the top 40 Indian private companies in unlisted and delisted markets, recently achieved an all-time high of 2763.89, growing over 236 basis points since the last record-high achieved on November 1, 2021. The Primex 40 index growth was driven by key performers like Waaree Energies Limited, Tata Capital Limited, National Stock Exchange, Hero Fincorp, etc., among others.

Launched by Wealth Wisdom India Private Limited (WWIPL), the Primex 40 index observed a 49% surge in the last 6 months against a 20% growth of the Nifty 500 Multicap 50:25:25. The Primex 40 index has reportedly posted a 22% annualised return, significantly outpacing its benchmark.

Several stocks have been instrumental in driving the Primex 40 index to record heights. Waaree Energies Limited, for example, saw its stock price soar from 725 to 2200, a 203.45% surge in just 3 quarters. The company’s leadership position in the solar energy industry, coupled with strategic investments and favourable government policies, have been a key driver.

Tata Capital Limited’s stock price surged from 425 to 975, observing a 129.41% uptick in the last year. This surge is attributed to high investor demand and expectations of substantial listing gains. Nayara Energy Limited further contributed to the index’s bullish trend, observing a strong boost from 180 to 560, a 211% gain in a year. The National Stock Exchange of India (NSE) also saw its stock price grow by 82%, from 3300 to 6000 YOY, further accelerating Primex 40’s performance.

The financial services and energy sectors have been key contributors for growth in the unlisted markets. In the energy sector, Waaree Energies Limited, Nayara Energy, & Sterlite Power and Transmission Ltd. have shown notable growth, while in the financial services sector, companies like Utkarsh Coreinvest, SBI Funds Management, Hero Fincorp, One Mobikwik, HDB Financial Services, and Orbis Financial Services observed significant gains. Additionally, Hexaware Technologies from the IT sector performed well after confirming its IPO plans.

Krishna Patwari, MD and Founder of Wealth Wisdom India Private Limited, commented, “The unlisted markets have often outperformed listed markets and are expected to maintain this trend. Following a period of 2.5 years of consolidation, unlisted markets are positioned for continued growth. The positive sentiment in Indian stock markets is likely to support further growth, presenting investment opportunities in high-performing shares such as Waaree Energies Limited, Tata Capital Limited, National Stock Exchange of India Limited, and Hexaware Technologies.”

CA Niresh Maheshwari, Director of Wealth Wisdom India Private Limited, says, “12 out of the 40 stocks in the Primex 40 index have recently reached all-time highs. These include Waaree Energy, NSE, Nayara Energy, SBI Funds Management, Tata Capital, Hexaware Technologies, Mohan Meakin, Indian Potash, Hero Fincorp, Orbis Financial, BOAT, and Carrier. This surge is driven by strong corporate performance and demand from retail investors. However, some companies have underperformed, including LAVA, Oravel Stays (OYO), MSEI, Finopaytech, and API Holding (Pharmeasy).”

The record high of the Primex 40 index reflects the high growth potential of India’s unlisted markets. With strong performance in the unlisted markets sector, the index is set to observe an influx of investors planning to expand their portfolio beyond equities and funds.

For more information, please visit: https://wwipl.com/primex

About Wealth Wisdom India Pvt. Ltd.:

Wealth Wisdom (wwipl.com) is a leading platform that specialises in unlisted shares, delisted shares, pre-IPO shares, and other exclusive investment opportunities. WWIPL’s flagship, the PRIMEX 40 Index is equipped with features such as Real-time Calculation, enabling instant market insights and Diverse Representation, offering a comprehensive view across multiple sectors of India’s thriving private arena. The index follows a Weighted Market cap calculation approach, ensuring that each company’s market presence is proportionally represented. These features empower investors and analysts with real-time and in-depth market insights, enabling them to make informed decisions.

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