These stocks have truly stood out, offering investors a reason to rejoice alongside the traditional festivities. Over the last one-year period, more than 25 Nifty 500 stocks have delivered phenomenal returns to their investors, with gains in the range of 100–482%. These stocks are from sectors including defence, railways, banking, IT, renewable energy, real estate, and capital goods.
Skyrocketing returns
Leading the pack was Jindal Saw, whose shares have generated a tremendous return of 482%, spiking from ₹82.85 apiece to the current level of ₹482.55. On November 7, the shares hit a record high of ₹485.
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Fertilizers and Chemicals Travancore was the second top gainer in the Nifty 500 index. Over the last one-year period, the stock has risen from around ₹132 to 710 levels, representing a nearly 438% increase.
Suzlon Energy stock was another star performer that rewarded its shareholders with massive returns in a very short period. The shares, which were trading at ₹8.15 apiece a year ago, have jumped 358% to trade at the current price of ₹37.35 apiece.
This sharp uptick in shares was attributed to the company’s strong order wins and strong financial performance. Taking the current market into consideration, the stock is trading at a 12-year high.
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The company recently released its Q2 FY24 numbers, which exceeded analyst estimates. It posted a net profit of ₹102.29 crore, an 81% jump over Q2 FY23’s net profit of ₹56.47 crore.
Following the company’s strong set of numbers, brokerage firm JM Financial has lifted its target price on the stock to ₹37 apiece. However, the stock is currently trading above the brokerage’s target price.
Since its listing, Kaynes Technology India stock has been on a steady upward trajectory, currently trading at a remarkable 317.9% above its issue price of ₹587 per share.
The stock finished the last 12 months in the green, with May 2023 being the largest monthly gainer at 44.89%. This was followed by July and September, which saw gains of 20.47% and 14.20%, respectively. Over the last one-year period, the shares have gained 322%.
Apar Industries was another stellar performer since last Diwali, producing a return of 258%. During this period, the company’s shares have climbed from ₹1,418 apiece to ₹5,079.
The company is the world’s largest aluminium and alloy conductor manufacturer, India’s largest and the world’s third-largest transformer oils manufacturer, and India’s largest exporter and producer of renewable and specialty cables, according to the company’s FY23 annual report.
Railway stocks
Railway stocks have witnessed a remarkable surge in the past year, with the most significant gains occurring during this year. This surge is largely attributed to substantial order wins, which are a direct outcome of the ongoing transformations within the railway sector.
During Union Budget 2023-2024, the government announced a capital outlay of ₹2.40 lakh crore for the Indian Railways, the highest ever outlay and about 9 times the outlay made in 2013-14.
Rail Vikas Nigam, a railway infrastructure company, has witnessed its stock price surge by 207% in the past year. Similarly, shares of Ircon International and Indian Railway Finance Corporation have delivered remarkable returns of 205% and 195.8%, respectively.
Mid and small-cap IT stocks
At a time when large-cap IT stocks are struggling to climb, mainly due to concerns about interest rate hikes, turmoil in the global financial system, and elevated geopolitical tensions, small and mid-cap IT stocks have performed well.
Zensar Technologies, for instance, has witnessed stellar growth, with its shares surging 127% in the past year, from ₹215.60 to ₹489.50.
Similarly, Cyient, a global digital and technology solutions company, has also generated impressive returns.
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The shares have soared by 124.53%, climbing from ₹741 apiece and reaching ₹1,663.80. Cyient’s stock reached a significant milestone this year, breaking the ₹1,000 mark in March and setting a record high of ₹1,945 in September, approaching the coveted ₹2,000 level.
Likewise, Birlasoft shares skyrocketed from ₹274.30 to ₹581.55, generating a return of 112%, and Sonata Software shares zoomed to ₹1,301 apiece from ₹530, resulting in a gain of 145.50%.
Defence stocks
Much like the surge in railway stocks, the defence sector has also witnessed remarkable growth due to increased budget allocation and substantial order inflows. Among the top performers in the defence industry, Mazagon Dock Shipbuilders has excelled, achieving an impressive one-year return of 150.55%.
The stock almost took 34 months to cross the ₹1,000 mark since its listing in October 2020; thereafter, it just took four months to cross the ₹2,000 mark in September 2023, and it continued momentum further to mark a new all-time high of ₹2,484.
Auto stocks
JBM Auto shares skyrocketed, boasting an impressive return of 190%, largely attributed to a slew of strong order wins. The company secured substantial orders for around 5,000 electric buses in several states, including Gujarat, Haryana, Delhi, Telangana, and Orissa, as well as contracts with numerous Fortune 500 companies and prominent Indian corporations.
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In a similar vein, Olectra Greentech experienced a remarkable 110% surge over the past year, driven by significant order wins. Meanwhile, Usha Martin shares provided their investors with a return of 118%.
Additionally, several other stocks, such as Kalyan Jewellers India, REC, BSE, Power Finance Corporation, Jindal Stainless, ITI, UCO Bank, Global Health, Safari Industries, Godawari Power & Ispat, Mangalore Refinery, NCC, Ujjivan Small Finance Bank, and Jyothy Labs, have yielded returns ranging from 100% to 240%.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
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Updated: 10 Nov 2023, 05:17 PM IST