Page 7 - Multibaggers News Today

As compared to Mondays closing level of 5,217, Nifty PSU Bank is just 3% away from the closing peak of 5,375.8 touched in November 2010.

While small and mid-caps can be potential multibaggers, they also come with higher risks. For investors who jumped onto the bandwagon during the surge, the fall has been a grim reminder of such risks.

The top gainer is state-run Mazagon Dock Shipbuilders, which has given over 479% returns during this period. The stock had ended at Rs 391.30 on the BSE on August 30, 2022 while the Monday closing price was 2,198.05. It was followed by Rail Vikas Nigam Limited (RVNL) which returned nearly 418%.

Between midcap and smallcap funds, the latter has seen the highest inflows in 2023 to the tune of Rs 26,305 crore. On the contrary, largecap funds have seen net outflows of Rs 3,607 crore in the same period.

The analysis showed that about 11 stocks, with a market capitalization of minimum Rs 500 crore, have turned multibaggers so far in FY24 after clocking more than 40% losses in FY23.

Topping the list is Kintech Renewables stock, which has jumped 7 times in FY24 and given more than 40% return so far in the month. The smallcap stock with a market capitalisation of just Rs 1,500 crore hardly has any analyst coverage.

Chennai Petroleum Corp: The companys debt-to-equity ratio came down significantly to 0.6 times as of March end, from as high as 3.09 times a year ago. The companys sales grew a sharp 77% in FY23, while the stock has given 25% returns in the last one year.

Some of the prominent stocks that have given multibagger returns include Tanla Platforms, Suzlon Energy, Texmaco Railsystems, JBM Auto, Jindal Saw, Mazagon Dock Shipbuilders, Inox Wind Energy, Force Motors, and Aurionpro Solutions.

Mutual funds in India have enjoyed success with their holdings in certain stocks, which have seen significant appreciation in prices, according to data. At least 10 stocks have returned over 100% in the past year, with more than 50 mutual fund schemes holding these stocks. Some of the best-performing stocks include IDFC First Bank, Apollo Tyres, Equitas Small Finance Bank, Varun Beverages, and Hindustan Aeronautics. However, some brokerages have downgraded their ratings on these stocks due to co...

Commenting on Nifty scaling a new lifetime high, Santosh Meena, Head of Research, Swastika Investmart, said that the 50-stock index surged to an unprecedented all-time high on account of solid fundamentals of the Indian economy and the consistent stability in global cues witnessed recently.