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The company's shares, valued at ₹120 apiece in November 2021, have surged by 518% to reach the current price of ₹742 per share. A significant portion of this increase occurred over the past five months, with the stock rallying 160%.
Inox Wind’s price band has been revised to 5 per cent, as the scrip soared 223 per cent in the last six months. The price band for MRPL has been revised to 10 per cent. This PSU multibagger stock is up 116 per cent in 2024 so far.
Waaree Renewable Technologies shares surged by 5% to ₹4,650 apiece after securing a significant contract for a 980 MWp solar power plant. The company's unexecuted order book now stands at 2.141 GW, reflecting its strong growth in the renewable energy sector.
Last week (Feb14), Ideaforge hit its record low of ₹689, down 49% from its listing price (record high) and up just 2.5% from its IPO price. Despite such a dismal performance, Asian Market Securities (AMSEC) sees the stock delivering multi-bagger returns by December 2026.
The Nifty SmallCap 100 is trading at a high P/B value of 6.7, and at least 128 smallcap multibaggers are trading above their 5-year average PE level. Companies in sectors like chemicals, consumer durables, energy, IT, and BFSI are overheated. The recent Q3 earnings season has added to concerns about expensive valuations for PSU railways, defence, and power stocks.