Indian equity benchmarks BSE Sensex and NSE Nifty 50 ended in the red for eight sessions in a row on Thursday, led by losses in financial shares and Reliance. The Sensex settled at 65,240.68 points (down 0.82 percent), while the Nifty closed for the day at 19,381.65 points (down 0.74 percent).
Meanwhile, here are a few multibagger stocks that touched a fresh 52-week high amid the weakness in the markets:
Indian Railway Finance Corporation (IRFC)
IRFC borrows funds from the financial markets to finance the acquisition/creation of assets which are then leased out to the Indian Railways as a finance lease. It is a large-cap company with a market capitalization of ₹ 51,882 crores and its shares reached a 52-week high of ₹ 45.30 on Thursday.
The company’s share price increased from ₹ 21.30 apiece a year ago and settled at ₹ 45.30, delivering multibagger returns of 112.68 percent. Therefore an investment of ₹ 1 lakh in its shares a year ago would be worth ₹ 2.12 lakhs today!
Elecon Engineering Company
The company is involved in the designing and manufacturing Material Handling Equipment and Incraft carriers. It is a small-cap company with a market capitalization of ₹ 8,902 crores and its shares touched a 52-week high of ₹ 820.00.
On Thursday, the company’s shares closed at ₹ 819.00 apiece, indicating that it has delivered multibagger returns of 137.60 percent in the past year. Its shares quoted at ₹ 344.70 apiece during the same time last year. Therefore an investment of ₹ 1 lakh in its shares a year ago would be worth ₹ 2.37 lakhs today!
Godawari Power and Ispat
The company is mainly engaged in the business of mining iron ore and manufacturing iron ore pellets, sponge iron, steel billets, wire rods, h.b. wire and ferroalloys with the generation of electricity.
On Thursday, Godawari Power and Ispat’s shares settled at ₹ 588.85 apiece, indicating multibagger returns of 110.08 percent as compared to its share price of ₹ 280.30 apiece a year ago. Therefore an investment of ₹ 1 lakh in its shares a year ago would be worth ₹ 2.10 lakhs today!
A few other stocks that touched their 52-week high on Thursday include Sun Pharmaceutical Industries, Dr Reddy’s Laboratories, Zomato, IDBI Bank, Berger Paints, Abbott India, Aurobindo Pharma, Alkem Laboratories, Lupin, MRF, Poonawala Fincorp, Ajanta Pharma, and Hindustan Copper.
Written by Simran Bafna
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