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Multibagger returns among the midcaps were lower, compared with the smallcaps, with just 9 companies rising over 100% in the last one year period. REC Ltd topped the charts in the midcap segment by delivering 247% returns in Samvat 2079, closely followed by IRFC (247%) and Power Finance Corp (240%).
The top 10 recommended stocks of last Diwali were Lemon Tree Hotels, Coforge, Bharat Electronics, HCLTech, Axis Bank, Federal Bank, ICICI Bank, Marico, Infosys, and Jubilant Ingrevia. Of these, Axis Bank, HCLTech, Bharat Electronics, Coforge, and Lemon Tree Hotels have given returns of over 13-38% since the last Diwali.
India Business News: Diwali on Indian markets: Despite global tensions and economic challenges, the Sensex has closed Samvat 2079 with an 8.5% increase, marking the eighth
Every year on Diwali, the market conducts a special one-hour trading session known as 'Muhurat' trading to mark the start of a new 'samvat' or Hindu calendar year, considering it an auspicious time for trading.
The downfall in the markets saw benchmark indices hit their 52-week lows on March 20, 2023. From its December highs, the index had corrected about 11%