Wendt India, Shanthi Gears and 2 other Murugappa Group stocks have returned over 50% in CY23
Also Read: Murugappa family settles disputes and differences with Valli Arunachalam, withdraw legal proceedings Among group stocks, Wendt India has emerged as the top performer, with a return of over 80%. The company is a leading manufacturer of super abrasives, machining tools, and precision components. In the current year so far, the stock has soared from ₹7,570 apiece to ₹13,921, resulting in a gain of 84%.
In October, the stock crossed the ₹15,000 mark for the first time and set a historic high of ₹15,600 apiece. From the March 2020 low of ₹1,611, the stock saw a significant rally, gaining 764% to date. Wendt India was the most expensive stock among other Murugappa Group stocks.
Also Read: 27 Nifty 50 stocks recorded new all-time highs this year; will the rally continue in 2024? Cholamandalam Investment and Finance (CIFC), the financial services arm of Murugappa Group, was next on the list. The company shares have witnessed a strong spike this year, moving from around ₹723 apiece to the current value of ₹1,249, representing a return of 73%. This exceptional performance has been seen since CY20, when the stock recorded a massive 26.24% return.
In the subsequent years, CY21 and CY22, the stock posted returns of 34.90% and 39.24%, respectively. What's even more impressive is that the shares have shown remarkable consistency, concluding 10 out of the last 13 years in positive territory and delivering steady returns to their investors. Among these, 2014 stands out as the best yearly performance, with a return of 94.14%.
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