December is a seasonally weak quarter for IT majors due to higher furloughs, and analysts anticipate a likely impact of postponed wage hikes on margins.
To evaluate the consistency of high-performing stocks, ETMarkets conducted backtesting on those that achieved a minimum 20% return in the last four quarters of 2023.
Data further showed that SG Mart, Remedium Lifecare, Taylormade Renewables, Pulsar International, Tine Agro, Jai Balaji Industries, Sheetal Diamonds and K&R Rail Engineering also climbed somewhere between 1,000 per cent and 2,000 per cent during the same period.
Smaller stocks outperformed Nifty by a wide margin as the index is up only about 8.5% since last Diwali while Nifty Smallcap50 is up 38%, Nifty Microcap 250 has advanced 51% and Nifty SME Emerge has zoomed 69%.