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Multibagger stocks: The year 2021 has been very good for the stock market so far. Among many stocks, the BSE index has gained the most this year. Indices have touched record highs in the current bull market. A large number of stocks have also risen since the beginning of this year, many have doubled. These multibagger stocks also belong to smallcap, midcap and largecap. Let’s take a look at 5 such stocks.
1. Happiest Minds Technology: Happiest Minds Technology is a Large Cap company incorporated in the year 2011, working in IT sector. The company is headquartered in Bangalore, with operations in the US, UK, Canada, Australia and the Middle East. It ranks fourth among IT services that work on technologies such as Artificial Intelligence, Blockchain, Cloud, Digital Process Automation, Internet of Things, Robotics/Drones, Security, Virtual/Augmented Reality etc. The stock has gained 320% since the beginning of this year. It was bidding at Rs 339.55 on January 1, 2021 with a market cap of Rs 49.9 billion. It is currently trading at 1,426.55 with a market cap of Rs 211.2 billion.
2. JSW Energy: JSW Energy and its subsidiaries are primarily engaged in the business of power generation from their power assets located in Karnataka, Maharashtra, Nandyal and Salboni. It is the holding company of the power business of JSW Group. The company also has a joint venture company which is engaged in mining activities and an associate is engaged in manufacturing of turbines. The company’s shares have gained up to 270% since the beginning of this year. The stock has been helped by rising FII holdings. Promoters held 74.7% stake in the company as of June 2021, while FIIs held 5.9%.
3. Balaji Amines: The share price of Balaji Amines has increased on a similar basis as compared to JSW Energy. The stock has gained 266% since the beginning of this year. Balaji Amines is engaged in manufacturing of Methylamine, Ethyl Amine, Derivatives of specialty chemicals and Pharma Excipients. It is one of the largest manufacturers of aliphatic amines in India. It is currently trading at a market cap of Rs 110.8 billion with a market cap of Rs 30.4 billion from Rs 938 as on 1 January 2021.
4. Deepak Fertilizers: Shares of Deepak Fertilizers and Petrochemicals have gained 200 per cent since the beginning of this year. Some Chinese companies said that they would stop exports to ensure supply in their domestic market, a move that could benefit Indian companies. Expectations of a normal monsoon for the third year in a row have also boosted the demand for complex fertilisers. The company is in talks with several foreign companies for possible partnerships as it wants to split its core businesses into separate corporate entities. In May this year, the government increased the fertilizer subsidy allocation by Rs 147.8 billion, taking the total outlay for FY22 to Rs 943.1 billion.
5. Gujarat Fluorochemicals: The share price of Gujarat Fluorochemicals has risen 200 per cent since the beginning of this year. The company deals in the manufacture and trading of refrigerant gas, caustic soda, chloromethane, polytetrafluoroethylene (PTFE), fluoropolymers, fluoro-monomers, specialty fluoro-intermediates, specialty chemicals and allied activities. The company has low debt and has shown positive results for the last five quarters.
(Disclaimer: The information given here is for informational purposes only. Mutual fund investments are subject to market risk, read all scheme documents carefully. NAV can fluctuate depending on the factors and forces influencing the security market including interest rate fluctuations. The past performance of a mutual fund may not necessarily reflect the future performance of the schemes. The mutual fund does not guarantee or guarantee any dividend under any of the schemes and is subject to the availability and adequacy of distributable surplus. Investors are advised to carefully review the prospectus and seek specific legal, tax and scheme You are requested to seek expert professional advice regarding the financial implications of investing/participating in)
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