Up to 6,220% return! 328 stocks turn multibaggers since last Holi
smallcaps in a raging bull market, 328 stocks with a market capitalisation of over Rs 1,000 crore have given multibagger returns since last Holi. Tine Agro is the top gainer with a massive return of 6,220% during the period.
Data analysis shows that there are at least 5 other stocks that have given eye-popping returns of at least 1,000% — Kesar India, SG Mart, Jai Balaji Industries, Insolation Energy and Waaree Renewable Technologies.
Some of the other large multibaggers include Panorama Studios International (834%), Cupid (736%), Unitech (538%), Aurionpro Solutions (476%), KPI Green Energy (405%) and IRFC (402%), according to ACE Equit
Within largecaps, top gainers include Bharat Heavy Electricals (206%), REC (270%), Power Finance Corporation (191%), Trent (194%), Zomato (217%) and Adani Green Energy (199%).
Also read | Smallcap stocks give up to 2,000% return in FY24 but brace for a bumpy ride
Experts suggest that investors must use any steep market corrections as buying opportunities, given the long-term structural growth opportunities. Domestic economy-linked sectors are on top of the buying list.
«The most common pushback on India is its premium valuation. We believe the premium valuation is justified by cyclical and structural tailwinds, and further supported by political stability. Additionally, valuations get support from falling equity risk premium as interest rates fall. Given this backdrop, we believe India’s high valuation is sustainable,» UBS Securities said.
The brokerage, which expects Nifty
