The Indian markets took a breather, after gaining for two days in a row. They opened lower tracking negative global cues, to shift between gains and losses amid volatility. They ended slightly in the red on Wednesday’s closing bell. The Sensex finished at 60,910.28 points, down 0.028% and the Nifty settled at 18,122.50 points, down 0.054%.
In the year 2022, the Indian stock market comfortably outperformed many major markets around the world. However, benchmark indices gained less than 3% so far this year, in comparison to double-digit gains in the past two years.
2022 was a roller coaster ride as it witnessed RBI’s hawkishness with interest rate hikes, weakness in the Indian IT sector, muted IPO market and the fear of the returning pandemic. However, a handful of small-cap stocks managed to give multibagger returns, in fact, triple investors’ wealth:
It is an India-based company that provides information technology (IT), digital media and IT-enabled services. It is a small-cap company with a market capitalization of ₹ 1062 crores and its shares closed at ₹ 27.00 apiece on Wednesday. They surged from ₹ 6.79 to the current levels, giving multibagger returns of 297.64%. Therefore, if an investor would have invested ₹ 1 lakh in the company’s shares at the beginning of this year, the value of their holdings would have been ₹ 3,97,640 today!
BLS International Services Ltd
BLS International Services is a part of the four-decades-old BLS group with a global presence. It counts among the top three players in VISA application outsourcing with more than 2,325 offices worldwide. It is a small-cap company with a market capitalization of ₹ ₹ 7,148 crores. The company’s shares closed at ₹ 171.05 apiece on Wednesday. They surged from ₹ 47.36 to give multibagger returns of 261.17%. Therefore, if an investor would have invested ₹ 1 lakh in the company’s shares at the beginning of this year, the value of their holdings would have been ₹ 3,61,170 today!
Jyoti Resins and Adhesives Ltd
The company manufactures synthetic resin adhesives and wood adhesives under the brand name EURO 7000. Jyoti Resins is a small-cap company with a market capitalization of ₹ 1488 crores and its shares closed at ₹ 1298.90 apiece on Wednesday. Its share price rose from ₹ 373.12 to the current levels, giving multibagger returns of 248.12%. Therefore, if an investor would have invested ₹ 1 lakh in the company’s shares at the beginning of this year, the value of their holdings would have been ₹ 3,48,120 today!
Written by Simran Bafna
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