Mumbai, Dec. 24: Corporate Gujarat today reaped a windfall on the bourses, a day after Narendra Modi romped home to take charge as chief minister for the third successive term.
Housing some of the country's biggest projects, including those of corporate giants like Mukesh Ambani-led Reliance Industries, Ruias-promoted Essar and the Adanis, Gujarat is a major industrial and investment destination.
Out of over 60 companies with Gujarat in their names, just seven witnessed a decline in their share prices, while most of them recorded a jump of 4-9 per cent with many hitting their upper circuit limit.
Investors expect the Modi government to divest its stake in companies in which it has promoter stakes.
GSPL, Gujarat Narmada, Gujarat Alkalies and Gujarat gas were the front-runners.
Gujarat Industrial Power, GSFC, and Gujarat Mineral Development Ltd also gained.