Automobiles, infrastructure, capital goods, industrials, and realty were the best performing sectors in 2023, driven by the strong domestic demand, capex push by the government, and growing discretionary consumption.
But its the broader market that stole the show, with as many as 190 smallcap stocks turning multibaggers this year, and 143 of them also hitting their lifetime highs, data by Ace Equity showed.
With Tuesday s rally, IREDA s market cap crossed the Rs 26,000 crore mark. The stock has tripled from its issue price of Rs 32 in just ten days of listing. The stock went public on November 29, ending at 87.5% higher than its issue price.
Data crunching done by ETMarkets showed that 23 companies reported atleast a double-digit year-on-year (YoY) growth in both revenue and profits for three consecutive quarters. About seven of them have given multibagger returns year-to-date, and five of them have done that only in FY24.