H1FY24 Superstars! These 5 stocks with double-digit returns in each of last 6 months, turn multibaggers
returns.
An analysis of the performance of stocks with a market capitalization of over Rs 1,000 crore showed that there were five such stocks which gave double-digit returns in each of the last six months and even turned multibaggers in H1FY24.
These five superstars of FY24 belong to the midcap and smallcap segments that outperformed the benchmark by a wide margin in the last six months.
In the six months to September, the benchmark Nifty 50 has given about 9% returns, whereas the Nifty Smallcap 100 index has given a staggering 42% returns, and the Nifty Midcap 100
has given 35% returns.
In the last six months, while the Nifty 50 has given positive returns in five of these months, the midcap and smallcap indices have done so in each of the six months.
The five midcap and smallcap superstars are GE T&D India, Jindal Drilling & Industries, Kintech Renewables, Mafatlal Industries, and REC Ltd.
GE T&D India: This stock has given more than 20% returns in five of the last six months. It hit an over 5-year high of Rs 450 on September 29. On a year-to-date basis, the stock has given 284% returns to investors.
Jindal Drilling: This stock has given more than 20% returns in four of the last six months. It hit an over 13-year high of Rs 648.80 on September 29. On a year-to-date basis, the stock has given 118% returns to investors.
Kintech Renewables: This is the best among the five stocks, as it has given more than 50% returns in each of the last six months. In fact, in May, the stock has given a staggering 181% return. It hit an all time high of Rs 5,874.90 on September 29.
So far in 2023, it has rallied a whopping 1,297%.
Mafatlal Industries: This textile company was the fourth best performing stock of FY24. The strong
