IREDA, RVNL among 12 midcap multibaggers since last Diwali. 10 gems for next Samvat
BSE Midcap index has produced 12 gems since last Diwali, each delivering multibagger returns with 26 others yielding double-digit returns of 50% or more. There are 19 duds as well in the pack of 192 stocks which have fallen by up to 50% during this period.
The 12 multibaggers are Indian Renewable Energy Development Agency (IREDA), Dixon Technologies (India), Rail Vikas Nigam (RVNL), Oracle Financial Services Software (OFSS), Oil India, Torrent Power, Glenmark Pharmaceuticals, Voltas, PB Fintech (Policybazaar), Hindustan Petroleum Corporation (HPCL) and Kalyan Jewellers India which have given returns between 182% and 100%.
Many other stocks would have been multibaggers, had it not been the profit booking over the last one month following a strong rally in them. Stocks like Cummins India, Prestige Estates Projects, CG Power and Industrial Solutions, Lupin, Bharat Heavy Electricals (BHEL) and Suzlon Energy which have gained between 99% and 78% since November 12, 2023 (Diwali). These stocks have fallen by up to 17% in the last one month.
There are four stocks which were listed post 2023 Diwali viz. Go Digit General Insurance, Tata Technologies, IREDA and Bharti Hexacom and in this, state-run IREDA stands tall among the 192 stocks in the BSE Midcap index with a whopping 223% returns.
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