Suzlon, Reliance Power to Vodafone Idea: These 5 multibagger penny stocks gave alpha return against Nifty 50 in 2023
Multibagger penny stocks: Indian stock indices have given stellar returns in the 2023. However, this could possible because of the participatory rally witnessed across segment. Among key benchmark indices, Nifty 50 index surged to the tune of 17.15 per cent in YTD.
BSE Sensex shot up over 16 per cent in this time whereas Bank Nifty index gave over 10 per cent return in this time. In 2023, small-cap index has gained over 43 per cent while mid-cap index skyrocketed over 40 per cent in this time. So, from a smart investor's perspective, an equity return below 10 per cent would be considered below par return whereas a return above 43 per cent this years would be considered beyond benchmark return or alpha return.
As smart investors are not shy of investing in penny stocks as they believe investing in stocks is like investing in business. Also Read: Adani Wilmar shares surge over 5%; here's why On a smart investor scrutinize one's return at the end of the year, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Nifty 50 index is considred an ideal replica of the Indian stock market. So, one should compare one's equity return with Nifty 50 index.
If the return is above 50-stock index return, then its an alpha return whereas in case the return is below Nifty 50 surge in the year, then there is need to look at one's portfolio and rebalance one portfolio." So, taking Nifty 50 as benchmart for the equity investors in 2023, here we list out top 5 penny stocks that gave alpha return against the 52-stock index: 1] Suzlon Energy: This share has been in uptrend since mid of May 2023. In May 2023, Suzlon share price bottomed out at around ₹8 per share levels and is currently around ₹37 apiece levels on NSE. This means,
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