The markets have been volatile this year due to global uncertainties fueled by the banking crisis and inflation. The collapse of the Silicon Valley Bank (SVB), Credit Suisse’s buyout by rival UBS, global inflation and continuing geopolitical tensions cast their shadow on the Indian markets.
On a year-to-date basis, the Nifty 50 has declined by 3.88% and the Sensex by 2.78%. However, here are two that stocks managed to skyrocket and deliver multibagger returns of up to 483% on a YTD basis:
K & R Rail Engineering Ltd
With a market capitalization of ₹ 620 crores, K & R Rail Engineering is an Indian railway infrastructure company. It offers services like laying of tracks, signalling, electrification and telecommunication in the railway industry.
The company’s shares were locked in a 5% lower circuit at ₹ 373.35 apiece on Wednesday. However, it gave multibagger returns of 470.44% on a year-to-date (YTD) basis. Therefore, if an investor had invested ₹ 1 lakh in the company’s shares at the beginning of this year, the value of their holdings would have been ₹ 5.70 lakhs today!
K & R Rail Engineering posted revenue of ₹ 58.87 crores in the December quarter of 2022 (Q3FY23), indicating an increase of 555.57% as compared to ₹ 8.98 crores posted in the corresponding quarter last year (Q3FY22). Further, its profit increased by 78.49% to ₹ 1.66 crores in Q3FY23, compared to ₹ 0.93 crores in Q3FY22.
Remedium Lifecare Ltd
With a market capitalization of ₹ 279 crores, Remedium Lifecare is an India-based pharmaceutical company engaged in the business of trading application programming interfaces (APIs) and other raw materials.
The company’s shares were locked at ₹ 813.10 apiece on Wednesday, giving multibagger returns of 482.87% on a year-to-date (YTD) basis. Therefore, if an investor had invested ₹ 1 lakh in the company’s shares at the beginning of this year, the value of their holdings would have been ₹ 5.83 lakhs today!
Remedium Lifecare posted revenue of ₹ 176.48 crores in the December quarter of 2022 (Q3FY23), indicating a decline of 14.35% as compared to ₹ 206.05 crores posted in the corresponding quarter last year (Q3FY22). However, its profit increased by 120.29% to ₹ 1.52 crores in Q3FY23, compared to ₹ 0.69 crores in Q3FY22.
Written by Simran Bafna
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