These five stocks in NIFTY500 gave up to 1,087% return in 1 year

The NIFTY 500 index which comprises top 500 companies in terms of full market capitalisation and average daily turnover has gained more than 38% in the past year amid a broader market rally.

The NIFTY 500 index has beaten the benchmark NIFTY50 in terms of returns in the past year as the key index comprising the top 50 companies listed on the NSE has risen around 25%.

An analysis of past year returns of the NIFTY 500 constituents shows that some of the companies have given multibagger returns of as high as 1,100%.

Here are the top five NIFTY500 companies with subtantial gains in the past one year.

Jai Balaji Industries (Stock price: ₹926, Return: 1,087%)

Steel products and TMT bars manufacturer Jai Balaji Industries tops the chart of NIFTY 500 performers with multifold returns of more than 1,087% in the past year. An increase in steel prices, pick up in construction activities and record financial performance in FY24 has fuelled a rally in the shares of Jai Balaji Industries.

The company looks to boost margins by focusing on revenue growth from ductile iron pipes and specialised ferroalloys, implementing cost-cutting strategies, increasing operational efficiencies, and achieving a net debt surplus within the next five quarters.

In the last one year the stock has surged more than 12 times to ₹926.55 apiece. Shares of the company were trading at ₹78 apiece on July 4, 2023.

Cochin Shipyard (Stock price: ₹2,679, Return: 860%)

Leading shipbuilder and maintenance service provider Cochin Shipyard hs returned more than 860% since July 3, 2023. The stock has zoomed from around ₹279 per share a year ago (post stock split) to ₹2,679 apiece on the NSE.

In the past year, the shipbuilder has bagged high-value orders from domestic and foreign customers, which aided the rally in its share price. As of December 31, 2023, Cochin Shipyard has a total order book position of ₹21,400 crore, and around 9,000 crore shipbuilding orders are in the pipeline. FIIs recently raised their stake in Cochin Shipyard, which also boosted the stock price.

The company went for a share split, lowering the face value of equity shares to ₹5 from ₹10 each in January 2024. The stock was trading at ₹279 per share on the NSE on July 3, 2023 (after the stock split). The stock has zoomed to ₹2,679 apiece.

HUDCO (Stock price: ₹325, Return: 462%)

Housing & Urban Development Corporation Ltd (HUDCO) shares have rallied around 460% in the past year amid multibagger returns in PSU shares. The gains in HUDCO shares was supported mainly by the government’s focus on the construction of 3 crore rural and urban houses under Pradhan Mantri Awas Yojana (PMAY).

HUDCO also committed an investment of ₹14,500 crore in housing and urban infrastructure sectors in Gujarat.

The housing sector stock was trading at ₹57.8 level on the NSE on July 4, 2023. It has now surged to ₹325 per piece as of July 4, 2024.

IRFC (Stock price: ₹177, Return: 436%)

Indian Railways Finance Corporation shares have zoomed around 436% in the past year. Railway infrastructure projects and strong financial performance have boosted the rail PSU stock in the past year. IRFC made its stock market debut in 2021 at ₹26 apiece. From its issue price, IRFC has given multifold returns of more than 1,000%. Driven by higher income, IRFC reported a strong 34% jump in its March quarter net profit to ₹1,717.3 crore compared to the year-ago period.

Anand Rathi Wealth (Stock price: ₹3,899, Return: 348%)

Wealth management firm Anand Rathi Wealth has given returns of 348% in the past year. The company’s ambiguous growth plans as well as strong financial performance have been the key triggers for the stock rally. The company reported a 32.9% rise in net profit to ₹56.6 crore for the March quarter of FY24. Its EBITDA rose by 20% year-on-year (YoY) to ₹73.1 crore while EBITDA margins were 39.7%.

The company announced a share buyback of 3.7 lakh shares at ₹4,450 per share in April this year to reward its shareholders.

In addition to these top five NIFTY 500 performers, NBCC India, Garden Reach Shipbuilders and Jupiter Wagons Ltd posted multibagger returns of around 300% in the past year. More than 20 NIFTY 500 stocks have given returns of around 200% in the past year.