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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 concerns over valuations and limited upside potential.
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.