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Smallcaps with double-digit returns turned multibaggers in Q1 2024, led by Waaree Renewable Technologies and Diamond Power Infrastructure. Despite caution due to SEBI warnings, experts like Rishabh Goel and Varun Saboo remain optimistic about smallcaps' earnings growth potential.
BSE was the top gainer in the Nifty500 index, soaring 521 percent, followed by IRFC and Suzlon Energy, which skyrocketed 462 percent and 444 percent, respectively.
Penny stock Frontier Capital has delivered extraordinary multibagger returns just in the last 1 year, surging from ₹2.5 in March 2023 to approximately ₹33.2 at present. This translates to an impressive return of nearly 1228 percent.
Aniruddha Naha, CIO at PGIM India AMC, shares investment philosophy emphasizing good businesses with strong cash flows and balance sheets. Strategies include trend identification and valuation-based stock selections, anticipating strong earnings growth in the near future. Naha points out that eventual multibaggers are good businesses, which probably are going through a down cycle, and hence both earnings and valuations are compressed.
Penny stock Lloyds Enterprises has posted multibagger returns in the last 4 years, rising from ₹1.19 in March 2020 to around ₹28.8 currently. This implies a return of almost 2337%.