Multibagger Returns News Today

Highlighting the need for restructuring, Suzlon Energy said that the amalgamation would result in simplified group structure to further improve transparency.

Shares of Tata Power Company hit a record high in early deals. Tata Power shares surged 1.87% to a high of Rs 457.50 against the previous close of Rs 449.10 on BSE. Market cap of Tata Power climbed to Rs 1.45 lakh crore on BSE. A total of 3.17 lakh shares of the firm changed hands amounting to a turnover of Rs 14.38 crore. Tata Power stock declined to a 52-week low of Rs 199.35 on May 5, 2023. The power sector stock has gained 39% in 2024 and risen 127% in a year.

However, apart from these well-known blue chips, LIC has also invested in some lesser-known stocks that have yielded handsome returns. Select 10 stocks in LIC's portfolio have given multibagger returns in the last 12 months.

Sterling & Wilson Renewable Energys shares surged 114% in less than six months, driven by enhanced financial performance. Here are the factors driving the stocks multibagger returns.

Jhandewalas Foods, previously a penny stock, has delivered multibagger returns, soaring over 1,932% in the past year and 310% year-to-date in 2024.

Multibagger stock: Waaree Renewable Technologies stock climbed 5% to a high of Rs 2386.10 on BSE today. It closed at Rs 181.85 on April 19 last year.

Tata Power shares surged 4.79% to a high of Rs 436.25 against the previous close of Rs 416.30 on BSE. Market cap of Tata Power climbed to Rs 1.33 lakh crore.

Shaily Engineering Plastics shares surged 140% in the past year and an impressive multibagger return of 4920% over the last decade, rising from ₹10.80 to ₹542 apiece.

Kotak Institutional Equities highlights the flawed rally in PSU stocks driven by bullish sentiments and incorrect valuation methodologies. The rally lacks meaningful change in fundamentals or structural reforms. Concerns arise about the long-term viability of PSUs due to reinvestment in sunset industries and government policies.

Tata Power share price today: Tata Power shares slipped 6.50% to Rs 405 today against the record high of Rs 433.20 reached on March 7, 2024. At 11:00 am, the Tata Power stock was trading 1.96% lower at Rs 424.95.