The Association of Mutual Funds in India (AMFI), the Mutual Fund industry’s self-regulatory body, publishes an updated list of large-cap, mid-cap, and small-cap stocks twice a year.
The latest list was published on January 4th, 2024 wherein the ‘large-cap’ stocks were listed as the top 100 companies, in terms of full market capitalization, ‘mid-cap’ stocks consisted of the 101st to 250th stock in the list, and, from 251st stock onwards, the ‘small-cap’ category stocks start.
Listed below are four multibagger stocks that were upgraded from the ‘small-cap’ to the ‘mid-cap’ category as per the latest AMFI rejig:
Kalyan Jewellers India Limited
With a market capitalization of Rs 38,977.21 crores, the stocks of Kalyan Jewellers India Limited, engaged in the business of designing, manufacturing, and selling a range of gold and other jewellery products, closed at Rs 378.40 on Wednesday, slipping around 1 percent as compared to the previous closing levels of Rs 382.20 apiece.
Keeping a purview of one year, the company’s stock has delivered multibagger returns of approximately 204 percent to its shareholders, viz, if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 3.04 lakhs.
Mazagon Dock Shipbuilders Limited
With a market capitalization of Rs 46,402.82 crores, the stocks of Mazagon Dock Shipbuilders Limited, a renowned shipbuilding company based in India, closed at Rs 2,300.70 on Wednesday, gaining around 3.20 percent as compared to the previous closing levels of Rs 2,229.65 apiece.
Keeping a purview of one year, the company’s stock has delivered multibagger returns of approximately 192 percent to its shareholders, viz, if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 2.92 lakhs.
SJVN Limited
With a market capitalization of Rs 35,737.56 crores, the stocks of SJVN Limited, engaged in the business of electricity generation, closed at Rs 90.94 on Wednesday, slipping around 3.40 percent as compared to the previous closing levels of Rs 94.14 apiece.
Keeping a purview of one year, the company’s stock has delivered multibagger returns of approximately 168 percent to its shareholders, viz, if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 2.68 lakhs.
CreditAccess Grameen Limited
With a market capitalization of Rs 27,919.47 crores, the stocks of CreditAccess Grameen Limited, engaged in the provision of microfinance services, closed at Rs 1,754 on Wednesday, gaining around 0.20 percent as compared to the previous closing levels of Rs 1,751.20 apiece.
Keeping a purview of one year, the company’s stock has delivered multibagger returns of approximately 102 percent to its shareholders, viz, if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 2.02 lakhs.
Written by Amit Madnani
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