Multibagger: 75 stocks double investors wealth in Samvat 2080; IREDA tops the list

Multibagger stocks: Given the high market volatility in the recent times and varying views from market experts on how Samvat 2081 will unfold amidst geopolitical challenges and the global economic landscape, Samvat 2080 has proven to be quite favourable for the Indian Stock Market. Even though it was a year filled with elections and all the excitement one could witness on D-Street in response to numerous influences, Indian Stock Market has ended Samvat 2080 in double digits.

Over the course of the year, the Nifty 50 has increased by 26.87%, despite experiencing significant selling pressure in October, resulting in a decline of around -6.22% over the past month amidst considerable fluctuations and volatility.

The Nifty 500 has surpassed the Nifty 50 over the past year, showing an increase of 35.05%. In Samvat 2080, 75 stocks from the Nifty 500 have doubled the investments of their shareholders. Hence, this year has been remarkable for the Indian stock markets, leading to a significant number of multibagger stocks that have enriched their investors within the last year.

On the technical front, Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One highlighted that, October marked a challenging month for bulls, erasing gains accumulated over the past two months, with the Nifty 500 dropping more than 6%, one of the steepest monthly declines in recent times, which has impacted the monthly chart’s structure.

“Going ahead, we may not have a similar smooth run, and markets may find themselves in difficult times. For now, 23,000–23,200 seems to be a daunting task. Only beyond that there may be some hope for bulls, whereas a break below 22,500 could drag prices towards 21,700 the 200dma. Ideally, if prices reach these levels, it would be an opportunity to re-enter markets in a staggered manner,” cautioned Bhosale.

Stocks in Focus

Out of the 75 stocks in the Nifty 500, 15 have seen an increase of 200% to 500%. Let’s take a look.

Indian Renewable Energy Development Agency Ltd (IREDA) leads the rankings with a remarkable gain of 556.4% since its debut on November 29, 2023. IREDA is a government-owned organization focused on the promotion, development, and financial support of renewable energy initiatives. Following the release of its Q2FY25 results, ICICI Direct Research has issued a ‘buy’ recommendation for the stock, establishing a target price of ₹280.

GE Vernova T&D India Ltd ranks second on the list, with its stock having surged by 351.8% over the past year. The company specializes in developing infrastructure for power transmission and distribution. Its offerings include a comprehensive array of products, solutions, and services that cover all types of transmission equipment up to Extra and Ultra High Voltages (765 kV and higher), featuring air-insulated switchgear (AIS), domestically produced power transformers, and gas-insulated switchgear (GIS).

Inox Wind Ltd holds the third position on the list with a remarkable gain of 313.0% over the past year. The company specializes in the manufacturing and sale of Wind Turbine Generators. After reviewing its Q2FY25 results, Axis Securities indicated that Inox Wind is in a strong position to continue its growth trajectory due to a robust order book, outstanding execution capabilities, technological preparedness, a net cash position, and the government’s renewed commitment to wind energy. The brokerage has reiterated a BUY recommendation for the stock, setting a target price of ₹270.

Broking company Motilal Oswal Financial Services Ltd is ranked fourth with a growth of 261.2% over the past year, while high-end computing solutions provider Netweb Technologies India Ltd holds the fifth position with a growth of 260.1%.

The remaining companies on the list include DOMS Industries Ltd, Trent Ltd, Jyoti CNC Automation Ltd, Rail Vikas Nigam Ltd, Jubilant Pharmova Ltd, and Cochin Shipyard Ltd, along with a few more in the list that have experienced gains exceeding 200%.

The 10 stocks that achieved returns exceeding 150% within a year include Godfrey Phillips India Ltd, Housing & Urban Development Corporation Ltd (HUDCO), Multi Commodity Exchange of India Ltd (MCX), Oracle Financial Services Software Ltd, Dixon Technologies Ltd, IFCI Ltd, Torrent Power Ltd, Aegis Logistics Ltd, Piramal Pharma Ltd, and Aditya Birla Real Estate Ltd.

Approximately 50 stocks experienced gains ranging from 100% to 149%, including KFIN Technologies Ltd, Suzlon Energy Ltd, NBCC (India) Ltd, CESC Ltd, Zomato Ltd, PTC Industries Ltd, and others.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.