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Business News/ Markets / Stock Markets/  24 stocks in Nifty Microcap index delivered gains between 200% and 470% in last 1 year; check full list

24 stocks in Nifty Microcap index delivered gains between 200% and 470% in last 1 year; check full list

Over the last 1 year, 24 stocks within the Nifty Microcap 250 index have shown remarkable growth, ranging between 200% and 470%. Leading this surge is KPI Green Energy, followed by Electrosteel Castings, Patel Engineering, Sanghvi Movers, Texmaco Rail & Engineering, and Newgen Software Technology.

Multibagger stock: Sanghvi Movers, the flagship entity of the Sanghvi Group, witnessed a notable surge in its share price over the past year, climbing from ₹351 apiece to ₹1,323, delivering a substantial return of 277%. (Pixabay)Premium
Multibagger stock: Sanghvi Movers, the flagship entity of the Sanghvi Group, witnessed a notable surge in its share price over the past year, climbing from 351 apiece to 1,323, delivering a substantial return of 277%. (Pixabay)

Over the past year, small and mid-cap stocks have demonstrated exceptional performance, delivering impressive returns. Simultaneously, both large-cap stocks and those in the Nifty 500 index have also shown remarkable strength during this period.

Of particular interest is the resurgence of micro-cap stocks, which have historically received less attention. These stocks have shown significant growth in the last year, rewarding their shareholders substantially. 

Notably, the Nifty Microcap 250 index, comprising the top 250 firms outside the Nifty 500 index, has recorded a phenomenal return of 92.56% over the past year, outperforming mid- and small-cap stocks.

What's particularly noteworthy is that 91%, or 229 stocks, of the index constituents have yielded positive returns. Among these, 24 stocks have delivered returns ranging between 200% and 470%. 

KPI Green Energy

KPI Green Energy, one of the leading players in the renewable energy sector, secured the top position in the Nifty Microcap 250 index, witnessing a remarkable surge of 467% within a year, propelled by substantial order acquisitions. 

The company primarily focuses on solar power generation, serving as both an independent power producer ('IPP') under the 'Solarism' brand and a service provider to captive power producer ('CPP') clients. 

With India's ambitious target of achieving 280 GW of solar power by 2030, KPI Green Energy is strategically positioned, aiming to commission a significant 1000 MW of solar power for its clientele by 2025.

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Electrosteel Castings

Electrosteel Castings is a market leader in India, with a 20% market share in the domestic DI pipe industry (in volume terms). It was the first company to introduce DI pipe products to the domestic market in 1994. 

The company stands as a major beneficiary of governmental initiatives such as the Jal Jeevan Mission and AMRUT 2.0, emphasising water projects. Over the past year, Electrosteel Castings' shares surged from 34 to 191 each, marking a stunning gain of 461%. 

Recently, domestic brokerage firm B&K Securities initiated coverage on the stock with a 'buy' rating, setting a target price of 233 apiece based on a FY26E EV/EBITDA multiple of 9.0x.

Also Read: Inflation data, Q4 results, global cues to guide market direction this week

Patel Engineering

Patel Engineering, a leading player in the infrastructure and construction sectors, emerged as the third top performer, showcasing a substantial return of 312%. In February, it reached a seven-year high of 79 per share, driven by significant order wins. Since its low of 7.10 per share in March 2020, the stock has surged by 788%. 

The Government of India's persistent focus on infrastructure development, evident in the FY25 interim budget allocation of 11.11 lakh crore, presents favorable prospects for infrastructure and construction firms like Patel Engineering. 

With an order book exceeding 19,000 crore (including L1 orders), the company holds robust visibility in future earnings, as per its December quarter earnings report.

Sanghvi Movers

Sanghvi Movers, the flagship entity of the Sanghvi Group, witnessed a notable surge in its share price over the past year, climbing from 351 apiece to 1,323, delivering a substantial return of 277%. 

As the largest crane rental company in India and Asia, and ranked sixth globally, Sanghvi Movers provides hydraulic and crawler cranes to various industries such as power, windmills, steel, railways, metro, petrochemicals, and the cement sector. 

Sanghvi Movers is in a favorable position to benefit from the ongoing capex upcycle across sectors. 

Texmaco Rail & Engineering 

Texmaco Rail & Engineering, an engineering and infrastructure firm, has experienced a notable surge of 270% in its stock value over the past year. During this period, the shares have surged from 46.45 to 172.30 per share, which is attributed to significant order wins providing strong revenue visibility.

The company specialises in manufacturing rolling stock, including wagons, coaches, EMUs, loco shells and parts, hydro-mechanical equipment, steel castings, rail EPC, bridges, and other steel structures. 

The company is currently benefiting from the ongoing transformation in the Indian Railways.

Also Read: 1.50 to 87: Penny stock turns multibagger in 10 years. Shares rise 5700%

Newgen Software Technology

Newgen Software Technology secured the sixth spot with a remarkable 261% surge in its stock value, climbing from 221 to 799 per share. Compared to their low of 164 per share in November 2022, the current trading price represents a 387% increase. 

The company specialises in low-code application development platforms and is a prominent player in the enterprise content management (ECM), business process management (BPM), and customer communications management (CCM) markets.

Garware Hi-Tech Films

Garware Hi-Tech Films, a global specialty film producer, witnessed a significant rise of 241% in its stock value, soaring from 530 to 1,807 per share over the past year. The company specialises in manufacturing high-quality, durable, and highly tensile polyester films, solar control films, and paint protection films. 

With exports accounting for 69% of sales and a strong presence in around 80 countries worldwide, Garware Hi-Tech Films is well-positioned for growth. Positive shifts in India's automotive regulations for safety glazing film further contribute to the company's growth trajectory.

Also Read: Is it wise to buy HDFC Bank shares before Q4 results 2024?

Time Technoplast

Time Technoplast, a prominent manufacturer of polymer products, has experienced significant growth in its shares over the past year, providing substantial returns to its shareholders. 

During this period, the company's shares have surged from 81 to the current trading price of 260.50, marking a substantial gain of 221%.

Specialising in technology-based polymer and composite products, Time Technoplast is a key player in the global market. As the flagship company of Timegroup, it oversees subsidiary companies operating worldwide.

Internationally, the Time Group holds the distinction of being the largest manufacturer of large-size plastic drums, the second-largest manufacturer of composite cylinders, and the third-largest intermediate bulk container manufacturer.

Also Read: India’s Hot Summer Creates Winners in Its Pricey Stock Market

Other stocks

In addition to the aforementioned stocks, other multibagger stocks, including IFCI, TARC, Wockhardt, Puravankara, Voltamp Transformers, Jaiprakash Power Ventures, Arvind, eMudhra, Valor Estate, Indo Count Industries, Neuland Laboratories, Zen Technologies, Jaiprakash Associates, Lloyds Engineering Works, ITD Cementation India, and Reliance Power, have yielded returns ranging between 200% and 300%.

Disclaimer: We advise investors to check with certified experts before taking any investment decisions.

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Published: 08 Apr 2024, 02:04 PM IST
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