Over 500 times returns in 20 years! Should you buy these 33 multi-bagger stocks now?

Patience plays a key role in creating substantial wealth in the stock market. It involves enduring temporary setbacks, avoiding impulsive decisions and allowing investments to grow steadily over time. This quality empowers investors to ride out market fluctuations, capitalise on favourable opportunities and ultimately achieve humungous wealth through the power of compounding. Data shows that at many as 33 stocks on Dalal Street have delivered over 500 times return to investors in the past two decades and analysts are still bullish on a couple of them.

With a rally of 5,281 times, Jyoti Resins & Adhesives emerged as the top gainer in the list. Shares of the company climbed to Rs 1,408.30 apiece on June 13 from Rs 0.27 on the same day in 2003.

It was followed by Symphony (up 3,064 times), KEI Industries (2,313 times), Borosil Renewables (2,234 times), Vinati Organics (1,572 times), and Ratnamani Metals & Tubes (1,495 times).

Nuvama is positive on Vinati Organics with a target price of Rs 1,945. “We remain positive on the long-term prospects of Vinati Organics, given its strong market position. We expect revenue growth to improve with subsiding macro headwinds. We are confident of volume-and new product-led growth over the mid-to-long term. Vinati Organics has a strong pipeline of capacity additions and brownfield capacity expansions,” brokerage Nuvama said in a report.

Keynote Capitals also has a ‘Neutral’ rating to Ratnamani Metals & Tubes (RMTL) last month with a target price of Rs 2,522. Shares of the company traded at Rs 2,306 on June 13.

“RMTL will face challenges in sustaining its current revenue growth rate, which we expect to normalise back to mid-teens and EBITDA margins to revert back to its historical mean level of around 16-18 per cent,” Keynote Capitals said.

Shares of Poly Medicure, Bajaj Finance, Cera Sanitaryware, Safari Industries (India), Arrow Greentech, JSW Steel, Jindal Worldwide and Relaxo Footwears also gained somewhere between 1,000 times and 1,420 times during the past 20 years.

Global brokerage firm Jefferies is positive on Bajaj Finance and set a revised target price of Rs 8,310 (earlier Rs 7,280). “Bajaj Finance delivering a healthy 27 per cent CAGR in loans, which will support 26 per cent CAGR in earnings over FY23-26 and ROE of 25 per cent. We raise earnings a tad bit to factor fall in funding costs/ improved net interest margins in FY25-26. Bajaj Finance stays among our top picks in financials with a ‘Buy’ rating,” Jefferies said in a report. Bajaj Finance was trading at Rs 7,166.05 on June 13.

Among the other major gainers, Havells India also delivered 946 times return to investors during the same period. Lloyds Metals & Energy, Titan Company, UPL, TTK Prestige, Mold-Tek Technologies, Balkrishna Industries, Elecon Engineering Company, Alkyl Amines Chemicals, Balaji Amines, NGL Fine-Chem, Ganesh Benzoplast, Carysil, Panama Petrochem, Ashiana Housing, Indo Borax & Chemicals, Ajanta Pharma, Aegis Logistics and Bampsl Securities also gained over 500 times in the past 20 years.

Way2Wealth sees Titan Company at Rs 3,180-3,200. “Titan looks well-placed to capture value from the long-term growth potential in the jewellery sector by gaining market share consistently. It is making determined inroads into regional markets (including the tough-to-crack Tamil Nadu market) and strong progress in the wedding segment while expanding its customer base,” Way2Wealth said in a report.

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