Top 5 Multibagger Smallcap Stocks of 2023 So Far. Take a Look
stocks have shown immense growth potential in comparison to other companies. With markets on a rise, there are companies whose stocks have given returns of more than 100%. Such companies, in the words of Peter Lynch, are known as multibaggers.
Investors on the lookout for such opportunities have been navigating the Indian markets, which have been consistently hitting new highs, particularly with small-cap stocks leading the charge. Every second small-cap stock has delivered double-digit returns. Nearly 100 stocks from the BSE Smallcap indices have jumped over 50 per cent, with a dozen among them doubling investor wealth, delivering multibagger returns.
In today's article, we look at five smallcap stocks that have rallied the most in 2023 so far. Leading the list is Zen Technologies. Zen Technologies is a leading provider of military training and anti-drone solutions.
The company is at the forefront of applying new technologies and developing new products. It is actively involved in the indigenization of technologies, which is beneficial to the Indian security forces. In 2023, so far (between 1 January 2023 and 21 July 2023), the stock price has already rallied around 234%.
This was due to back-to-back order wins. Zen Technologies achieved a major milestone on 11 July 2023 by securing an export order valued at about ₹3.4 billion (bn) (around US$ 41.5 million). This success comes shortly after the company's announcement on 6 July, where it won a ₹1.6 bn order from the government of India.
The recent order from the export markets aligns with the government's Indigenous Design and Development (IDDM) plan. This emphasises the use of Indian intellectual property and a minimum of 60% domestically manufactured content. Zen
. Read more on livemint.com
