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  1. Here’s a list of top 10 stocks that doubled over the last one year

Here’s a list of top 10 stocks that doubled over the last one year

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4 min read • Updated: April 12, 2024, 1:03 PM

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Equity markets have witnessed a decent rally over the last one year with the benchmark Nifty 50 registering over 28% returns and the Nifty 100 posting nearly 34% returns in the period.

Top 10 stocks of FY24

Indian Equity markets witnessed robust rally in past one year where key benchmark indices rose by nearly 30%. Below are some of the key stocks that gave multi-bagger returns in last one yea

Here’s a list of the top 10 stocks from this universe that have given at least 100% returns:

  1. Indian Railway Finance Corp: The public sector company which is under the administration of the Indian Railways has returned over 400% in the last one year. What IRFC witnessed in the period was a re-rating of its valuations as the stock saw its PE ratio jump from mid single digits to over 30.

  2. REC: Formerly known as Rural Electrification Corporation, the public sector stock gained close to 300% in the last one year. REC is registered with the Reserve Bank of India (RBI) as a non-banking finance company (NBFC), public financial institution (PFI) and infrastructure financing company (IFC). REC has witnessed a 23% year-over-year rise in its sales during the third quarter while net profits increased over 13%.

  3. Zomato: Shares of the food delivery app rose over 265% in the last one year. During the quarter-ended December 2023, Zomato reported a 69% year-over-year growth in its operating revenue at ₹3,288 crore. CEO Deepinder Goyal had said during the results that the company expects the topline to continue growing at over 50% year-over-year and added that margin expansion and GOV growth will drive further improvement in absolute profits.

  4. Adani Power: Shares of the Adani Group’s energy company rose over 265% in the last one year. The stock even surpassed its high before the rout caused by the Hindenburg report. The company’s consolidated power sale volume stood at 21.5 billion units (BU) in Q3FY24, up by 82% from 11.8 BU in Q3 FY23 due to improved power demand and larger installed capacity.

  5. Power Finance Corporation: This public sector stock has returned over 230% in the last one year. PFC’s operating income grew 14.45% on a year-over-year basis during the third quarter while profits jumped over 12%.

  6. Tata Motors: Shares of the Tata Group’s automotive company rose over 130% in the last one year. The company has been clocking some decent numbers with revenues rising by 25% in the third quarter while operating profit jumped over 60% to nearly ₹15,800 crore. The company earlier said it remains positive on all three auto businesses and expects the performance to further improve in the fourth quarter on account of seasonality, new launches and improving supplies at Jaguar Land Rover (JLR).

  7. Trent: Again a Tata Group company that operates brands like Westside and Zudio, the retail firm has returned over 187% returns in the last one year. As of Q3FY24, the company’s revenues have been growing at a compounded annual growth rate (CAGR) of 39% since the third quarter of FY20 while its profit before tax has risen at a CAGR of 47% in the period.

  8. Punjab National Bank: Shares of the public sector bank have returned over 187% since the last one year. Its non-performing assets came down significantly during the third quarter while the net interest income grew 12.1%. The bank’s net profit for the quarter increased by 253.4% to ₹2,223 crore.

  9. Hindustan Aeronautics: Shares of the public sector aerospace and defence company returned over 158% in the last one year. HAL recorded the highest ever revenue from operations of over ₹29,810 crore for the FY24, registering a double digit growth of around 11% as against 9% in the previous financial year.

  10. DLF: The commercial real estate developer saw its shares jump over 136% in the last one year. The company recorded its highest quarterly sales booking of ₹9,047 crore during the third quarter backed by multiple launches.