Multibagger alert! 440 stocks rally up to 10,900% since last Diwali

New Delhi: Cherry-picking multibaggers on Dalal Street was never an easy job for investors. However, if picked carefully, a host of domestic-listed companies, across all the marketcaps, have delivered fantastic returns.

According to the data from Ace Equity, as many as 440 stocks listed on BSE have zoomed up to 10,900 per cent since last Diwali, that is November 4, 2021 to October 18, 2022. As many as 18 companies rallied over 1,000 per cent during the period.

The list does not include the companies that made their debut during this period or got delisted from the bourses.

Rising inflation, stronger dollar, geopolitical worries, hawkish central banks, a crisis, recession fears and constant rate hikes were the key factors that capped the performance of equity markets.

Market analysts have a mixed view on the performance of the market this year. Some see this performance on the expected lines, while others had expected better from the local counters.

Sunil Damania, Chief Investment Officer, MarketsMojo said, "Last year, we suggested a 65 per cent probability of the Sensex going down and have seen that pan out from the previous Diwali to the current one.

So on a scale of 0-10, the equity performance would be rated between 3-4, he added. "However, by the next Samvat, we expect the market to perform exceptionally well."

Vikram Kasat, Head-Advisory, Prabhudas Lilladher said that with inflation skyrocketing and fears of recession all around the globe, India remains amongst very few growth destinations with strong domestic demand and food grain security.

The list is topped by a smallcap textile firm SEL Manufacturing Company, which rallied 10,868.60 per cent during the period under review since the last diwali, celebrated on November 4.

It turned an investment of Rs 10,000 into a whopping Rs 10.69 lakh during the period under review. However, the scrip's trade was halted on October 14, over IBC proceedings.

It is followed by plastic products player Kaiser Corporation which zoomed 9,581 per cent in the Samvat 2078 so far. The scrip turned an investment of Rs 10,000 into Rs 9.85 lakh so far.

Ambar Protein Industries and IKAB Securities & Investment also rallied 2,636 per cent and 1,847 per cent respectively during the period. Gensol Engineering also rose 1,637 per cent during the same period, the data suggest.

Katare Spinning Mills, Hemang Resources, Supreme Holdings & Hospitality, Sampre Nutritions, Cressanda Solutions, Deep Diamond India, KBS India, Quest Softech, Madhusudan Securities, Wardwizard Foods and Beverages, Kakatiya Textiles, Gorani Industries and Sadhna Broadcast also jumped between 1,000-1,300 per cent during the period.


GTV Engineering, Polo Queen Industrial & Fintech, Moongipa Securities, NIBE, Beekay Niryat, CWD, Swadeshi Polytex, Axita Cotton, Khoobsurat, MRC Agrotech, BLS Infotech and Sunedison Infrastructure rose 750-1,000 per cent in Samvat 2078.

Other prominent names include KPI Green Energy, Roopa Industries, Tinna Rubber And Infrastructure, New Delhi Television, Adani Power, Dynamic Cable and BLS International Services, which have delivered multibagger returns.

A number of these stocks are directly or indirectly included in the portfolio of Dalal street veterans including Shankar Sharma, Dolly Khanna, Porinju Veliyath and Ashish Chugh, among others.

Other renowned stocks include Deepak Fertilisers, Raymond, Speciality Restaurants, PTC Industries, Adani Total Gas, Adani Enterprises, Elgi Equipments, Vishnu Chemicals, Elecon Engineering, RHI Magnesita and Himadri Speciality Chemical turned multibaggers.

Market veterans remain positive on the Indian equity markets and India Inc. They expect that select sectors, with an orientation towards domestic consumption, are likely to outperform.

“After a very long time, we are seeing some initial signs of revival in India’s investment cycle. Engineering and capital goods as a sector has done pretty well over the last 12 months. I still think that it is very early days for the sector," said says Pankaj Murarka, CIO, Renaissance Investment Managers.

Leadership will come from domestic economy and domestic economy-oriented sectors while global sectors could remain challenged for some more time to come, he added with a positive view on the pharma sector too.

"We expect that higher domestic demand led growth and relative stability has resulted in some decoupling with other major economies globally and the trend is expected to continue in coming quarters as well," Kasat from Prabhudas Lilladher added.

(With data inputs from Ritesh Presswala)

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)