India celebrates its 77th Independence Day on August 15, 2023, under the resonant theme "Nation First, Always First." This year's theme resonates with the government's focus on national unity and development.
Amid this backdrop, the financial markets displayed strong resilience, as evidenced by the Indian benchmark indexes reaching fresh all-time highs. The Nifty 50 and Sensex have rallied 10% and 10.26%, respectively.
During the same period, 30 Nifty 500 stocks made their investors wealthier by delivering returns of up to 497%. These stocks span diverse sectors, encompassing defense, railways, banking, information technology, renewable energy, real estate, and capital goods.
Leading the pack of these impressive performers is Mazagon Dock Shipbuilders. The stock has been witnessing strong momentum in the last one-year period, climbing from ₹311.65 apiece to its current position of ₹1,863, generating a multi-bagger return of 497% led by strong order wins coupled with strong financial performance.
The stock saw a one-way spike after hitting a 52-week low of ₹290 apiece on August 23, 2022, and it has since gained 556%. In the last month, the stock soared 52%, and in June, the stock skyrocketed 54.22%. At current levels, the stock is ranked as the top performer in the BSE PSU index.
Rail Vikas Nigam, a railway infrastructure company, stood as the second-top performer with a return of nearly 304%. Railway stocks have been performing well on Dalal Street for some time now, owing to robust solid performance in FY23 and strong order inflows with ongoing transformation in the railway sector.
In June, the company said it had emerged as the lowest bidder (L1) for the Maharashtra Metro Rail Corporation project (MMRCL), worth ₹394.9 crore. Furthermore, the state-owned company was awarded orders worth ₹11,256 crore from Chennai Metro Rail Ltd.
The next stock on the list was Fertilisers and Chemicals Travancore (FACT). The company, which is engaged in the manufacture of fertilizers and petrochemicals, saw its stock price surge by 261%, growing from ₹116.45 apiece to ₹420.50 over the last one-year period.
In a similar vein, shares of Jindal Stainless, one of the largest manufacturers of stainless-steel flat products, delivered massive return of 241% in the last one-year, climbing from ₹118.15 apiece to the current position of ₹404.
Apar Industries also delivered their shareholders handsomely from August last year to this August. The shares have shown a steady growth trend during this period, increasing from approximately ₹1,207 apiece to ₹4,069 apiece, resulting in a stunning return of 237%.
It is a leading Indian company operating in the diverse fields of electrical and metallurgical engineering, offering value-added products and services in power transmission conductors, petroleum specialty oils, and power and telecom cables.
JBM Auto shares also generated a stellar return of 190%, fueled by strong order wins. In July, JBM Auto and its subsidiaries (Company) won orders for around 5000 electric buses to supply to various STUs in the states of Gujarat, Haryana, Delhi, Telangana, Orissa, among others, and multiple Fortune 500 companies coupled with leading corporates of the country.
Kalyan Jewellers India was another stock that delivered a multi-bagger return of 186.50% in the last one year. At current levels, the stock is trading 130.8% higher than its IPO price of ₹130.80%.
|Scrip Name||% return in last one-year|
|Mazagon Dock Shipbuilders||497|
|Rail Vikas Nigam||304|
|Data Patterns (India)||150|
|Union Bank of India||130.04|
|Bank of Maharashtra||129.5|
|Power Finance Corporation||120.9|
|BLS International Services||112.1|
Suzlon Energy is next on the list. The company, which is the largest renewable energy solutions provider in India, saw its shares climb from ₹7.55 apiece to ₹20.05 in the last one-year time, resulting in a staggering gain of 165%. Renewable energy stocks have been on an upward journey, attributed to robust order wins stemming from the government's renewable energy initiatives.
Finolex Cables, which is a leading manufacturer of electrical and telecommunication cables in India, delivered a return of 134%. According to analysts, the company is set to benefit from the rise in the government's capex. Global brokerage firm Jefferies pointed out that the Capex-to-GDP ratio for the government in FY24 is likely to be at 3.3%, which represents a significant improvement compared to the 1.7% recorded in FY14.
Similarly, UCO Bank shares have soared 115%, demonstrating a stellar upward trajectory in the last one year, whereas, from a 52-week low of ₹11.3 apiece, the shares are up by nearly 159%.
Data Patterns (India), a vertically integrated defence and aerospace electronics solutions provider, has seen its shares rise strongly from ₹838.55 to ₹2096.35, producing a return of 150%.
The company's shares were listed on the exchanges on December 24, 2021, making it one of the most successful IPOs to date. Taking the current market price into consideration, the stock is trading 259% above its issue price of ₹585.
Other stocks, including NCC, IRFC, Union Bank of India, RBL Bank, Engineers India, Bank of Maharashtra, PFC, REC, Zensar Technologies, BLS International Services, Supreme Industries, Indian Bank, Raymond, KPIT Technologies, Triveni Turbine, Glenmark Pharmaceuticals, Equitas Small Finance Bank, and SJVN, also witnessed gains between 100 and 135%.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of MintGenie.