Ahmedabad Stock Exchange: description opening hours, schedule

The Ahmedabad Stock Exchange (ASE), established in 1894 as India’s second-oldest bourse, offers concentrated opportunities in Gujarat’s industrial sectors. Prioritize exposure to small and medium enterprises (SMEs) listed on ASE’s dedicated SME platform, launched in 2019, which has facilitated ₹820 crore ($98 million) in equity mobilizations since inception. Textiles, agro-processing, and ceramics dominate 68% of ASE’s listed companies, reflecting Gujarat’s manufacturing backbone.

ASE’s benchmark index, ASPI, delivered a 14.3% annualized return from 2015–2023, outperforming the Nifty SmallCap 250 by 2.1 percentage points during cyclical commodity upswings. Position portfolios toward export-linked SMEs with below-30 P/E ratios, as 42% of ASE’s chemical and dye manufacturers reported 20%+ YoY revenue growth in FY2023. Monitor the state’s industrial corridor projects–$2.6 billion allocated for transport infrastructure–to identify supply-chain-adjacent firms.

Use ASE’s tax incentives for Gujarat-based enterprises, including 100% stamp duty exemptions for share transfers, to optimize transaction costs. However, limit exposure to 8–12% of total Indian equity holdings due to ASE’s $4.2 billion market cap, which represents 0.38% of India’s total equity capitalization. Pair SME positions with arbitrage opportunities during quarterly settlement windows, where price differentials between ASE and NSE stocks in overlapping listings average 1.7–2.4%.