As many as 40 stocks across the sectors have rallied 100-425 per cent since the last Independence Day, rewarding the investors, the data from Ace Equity suggests.
Despite the inflationary pressure, strong FII pullout, depreciating rupee, rising crude oil prices, interest rate hikes and geopolitical crises, these stocks have been able to hold ground with sharp upside in the last 12 months.
The list is topped by footwear manufacturer
which owns the brand Red Tape. The stock has rallied 425 per cent to close at Rs 304.95 on Friday, August 12 from Rs 58.05 August 13, 2021.
It is followed by smallcap IT solution provider 3i Infotech, which has gained 410 per cent during the period to Rs 40.7 from Rs 7.99. However, the stock has gone through capital restructuring which slashed 90 per cent of its share capital.
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Three Adani Group stocks – Adani Power (306 per cent up) Adani Total Gas (276 per cent up) (266 per cent up) – are also among the top stocks to deliver strong returns in the last one year. Cantabil Retail India, Jindal Worldwide, TGV SRACC and are the other counters which have more than tripled in the last one year, the data suggests.
Gujarat Mineral Development Corporation, Tata Teleservices (Maharashtra),
Shoppers Stop, DB Realty, PG Electroplast and TD Power Systems have advanced between 150-200 per cent during the same period.
Market experts have been juggling across the sectors to make most of the volatile period. Majority of experts have remained positive on consumers, financials and chemical space, with IT being the least preferred bet.
In an interview with ET Now, Jitendra Arora, Executive Vice President, ICICI Prudential, said that IT is the biggest sector which is leveraged to the global demand. “We have been underweight on IT for some time and continue to hold the view.”
“We have been adding names in the financial sector, domestic retail sector and the QSR story. The only place where we are leveraged to global demand is perhaps on the chemical side,” he added.
Maharashtra Seamless, Chennai Petro, Fineotex Chemical, Adani Green, Tata Elxsi, Sree Rayalaseema, GRM Overseas,
Raymond, Schaeffler India, TCPL Packaging and Elgi Equipments also advanced up to 150 per cent.
Other multibaggers include , JBM Auto, Fine Organic, Zen Tech, Bharat Dynamics, , Elecon Engineering, , Gujarat Fluorochem, GNFC, and Timken India.
Amid fears of economic degrowth and recession, market analysts remain positive on India and domestic stock markets. They believe that markets are poised to continue their rally in the years to come.
“The rally is likely to sustain 18,200-18,300 as flows start returning to India,” says Harendra Kumar, MD, Institutional Equities, Elara Securities India. “We have no doubt that India will be the top performing market in emerging markets.”
The underperformance of China is beginning to increase India’s weights in the emerging market index. This will be the trigger for flows to come back into India, he added. “India could be looking at a great outperformance over the next three years.”
However, not all stocks have remained in the pink of their health during 75 years of Indian independence as at least eight stocks plunged more than 75 per cent since India’s Independence day in 2021.
The list includes Future Retail (92 per cent down) KBC Global (89 per cent down) Birla Tyres (85 per cent down)
(78 per cent down), (78 per cent down), Future Consumer (77 per cent down), Future Enterprises (75 per cent down) and (75 per cent down).