multibagger stocks: Impressive Growth: 4 stocks surge over 40% in the first half of last 3 years
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Keynote Capitals initiated coverage on I G Petrochemicals, assigning it a 'buy' rating and establishing a target price of ₹819 per share. This forecast indicates a potential upside of 59.5% from the current closing price of ₹513.60 per share.
Power stocks lead the way with Rural Electrification Corporation and Power Finance Corporation achieving multibagger returns. Bharat Heavy Electricals and NTPC also saw significant gains. India's fuel retailers, including IOC, BPCL, and HPCL, rallied due to improved refining margins.
The stock has given returns of over 150% over 1-year period outperforming the Nifty which has delivered 19% returns during this period. BHEL is currently trading above its 50-day and 200-day simple moving averages (SMAs).
The BJP government has initiated various measures to increase the operational autonomy of the PSU companies and proposed significant reforms and divestment in these companies. Shares of power sector lenders REC and Power Finance Corporation have climbed 252 per cent and 241 per cent, respectively, in 2023, so far.