Indian stock market has had a stellar run so far this year. In the week gone by, key equity benchmarks Nifty, Sensex witnessed a powerful performance as they gained over 2% to settle at their all-time high closing levels. According to share market analysts, the participation of large-cap bluechips across sectors has been giving strength to the rally which has taken the Nifty well above 21,000 level
At the current level, Nifty is trading at above 20 times the estimated FY earnings. According to market experts, there are significant macro risks that the market cannot ignore for long. The valuations in the mid-cap and small-cap space are becoming excessive. "Investors should exercise caution, particularly in the over-heated mid-and small-cap segments. Safety is in large-caps," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
A positive run in PSU stocks has aided the Indian stock market rally. The BSE PSU Index has gained 34% in the last one year as against the 14% advance in the benchmark Sensex. As per an ICICI Securities report, some PSUs have broken out from years of underperformance and are set for a long growth runway ahead
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Market observers believe that the pattern of government spending in the past few years has triggered a re-rating in PSU stocks. Though the upward momentum in PSU stocks may continue till the bullish sentiment lasts, analysts urge share market investors to be cautious as stocks could be overvalued. Here are 7 PSU stocks that have delivered multibagger returns of up to 390% in the last one year
Mazagon Dock Shipbuilders’ share price rose from Rs 459 apiece to Rs 2,256.95 on NSE in the past year delivering multibagger returns of 390%. So far in 2023, Mazagon Dock Shipbuilders share price has risen 186%, delivering multibagger returns to its positional investors. The company is primarily engaged in building & repairing of ships, submarines and various types of vessels and related engineering products for domestic and international clients
UCO Bank share price rose from Rs 12.25 apiece to Rs 44.45 on NSE in the past year delivering multibagger returns of up to 262%. In the last six months, share price of UCO Bank has risen around 83%, delivering multibagger returns to its positional investors. The lender provides a wide range of banking and financial services including retail banking, corporate banking and treasury operations
Rail Vikas Nigam Ltd (RVNL) share price rose from Rs 34.20 apiece to Rs 168.75 on NSE in the past year delivering multibagger returns of up to 393%. So far in 2023, share price of RVNL has risen 146%, delivering multibagger returns to its positional investors. The company is engaged in the business of implementing various types of Rail infrastructure projects assigned by the Ministry of Railways including doubling, gauge conversion, new lines, railway electrification, and more
SJVN share price rose from Rs 32.20 apiece to Rs 76.30 on NSE in the past year delivering multibagger returns of up to 136%. So far in 2023, share price of SJVN has risen 119%, delivering multibagger returns to its positional investors. SJVN is involved in hydroelectric power generation and transmission. It is presently implementing or operating power projects in Himachal Pradesh, Uttarakhand, Bihar, Maharashtra, Uttar Pradesh, Punjab, Gujarat, Arunachal Pradesh, Rajasthan, Assam, Odisha, Mizoram and MP in India besides Nepal
Hindustan Aeronautics Ltd (HAL) share price rose from Rs 2,481.10 apiece to Rs 4,001.25 on NSE in the past year delivering multibagger returns of up to 60%. So far in 2023, share price of HAL has risen 53%, delivering multibagger returns to its positional investors. HAL is currently involved in designing and manufacturing of fighter jets, helicopters, jet engine and marine gas turbine engine, avionics, software development, spares supply, overhauling and upgrading of Indian military aircraft
Jammu & Kashmir Bank share price rose from Rs 32.20 apiece to Rs 110.10 on NSE in the past year delivering multibagger returns of up to 240%. In the last six months, share price of J&K Bank has risen around 130%, delivering multibagger returns to its positional investors. The lender caters to banking requirements of business enterprises, government employees, semi-government and autonomous bodies, farmers, artisans, public sector organizations and corporate clients
Indian Railway Finance Corporation (IRFC) share price rose from Rs 21.60 apiece to Rs 76.85 on NSE in the past year delivering multibagger returns of up to 256%. So far in 2023, share price of IRFC has risen 133%, delivering multibagger returns to its positional investors. IRFC is the dedicated funding arm of Indian Railways. The company was set up in December 1986 for mobilizing funds from domestic and overseas markets to meet the pre-dominant portion of Extra Budgetary Resources requirement of Indian Railways.