These 12 smallcap multibagger stocks saw strong retail buying for 3 consecutive quarters
stocks that have given multibagger returns of upto 412% in 2023 so far, saw retail investors increase their holdings for three consecutive quarters.
These 12 stocks are Anand Rathi Wealth, Control Print, Gravita India, IRCON International, Jupiter Wagons, KDDL Ltd, Kilburn Engineering, KSolves India, Saksoft, Shilchar Technologies, Sky Gold, and Som Distilleries Breweries.
Stocks in the smallcap segment have had a dream run this year, backed by the relentless buying, particularly by retail investors.
The S&P BSE Smallcap index has given a staggering 45% returns year-to-date, against the 16 returns given by benchmark Sensex.
Not only have the above-mentioned stocks given multibagger returns, but all of them scaled lifetime highs this year, with five achieving it in December.
What could have driven retail interest in most of the stocks is the consistent earnings performance of the companies.
All the 12 companies have reported double-digit year-on-year (YoY) growth in revenue and profits for the last three consecutive quarters.
IRCON International, which has given 173% returns in 2023 so far, saw retail holding rise to 17.48% as of September end, from 13.91% in December. The company reported 28-33% YoY growth in revenue in the past three quarters, and 14-45% growth in profits.
Note that retail investors holding nominal share capital of up to Rs 2 lakhs have been considered.
The other stock in the railway sector that retail investors fell in love with is Jupiter Wagons. This stock has given a whopping 245% returns so far in 2023. Retail holding in the stock nearly doubled in three quarters and was 6.3% as of September end.
