These five stocks with double-digit share prices delivered impressive returns in 2024

The year 2024 has been a remarkable one for the Indian stock markets. While the NIFTY50 index has posted double-digit gains so far, the journey has been nothing short of a roller coaster ride. During this eventful year, stocks priced under ₹100 have captured investors' attention, with some delivering impressive returns and doubling investors' wealth. However, it's important to note that not all low-priced stocks have strong fundamentals, which are crucial for sustained wealth creation over time.

As an investor, it's important to meticulously examine various aspects, including market capitalisation and financial performance, as well as growth factors, to spot the best long-term stocks under ₹100. In this article, we highlight the top 5 double-digit stocks which have shown impressive performance in 2024. All stocks of companies have a market capitalisation of more than ₹1000 crore

Here are the top five stocks with the highest performance in 2024:

Motisons Jewellers Ltd

The company is planning to expand beyond Jaipur into different demographic areas within and outside Rajasthan. It is considering opening new showrooms on a small or large scale. The company is focusing on increasing inventory to cater to customer demand and planning to invest in new technologies and machinery for future growth. The management is optimistic about maintaining and increasing current levels of growth by introducing new inventories and SKUs.

MIC Electronics Ltd

For the quarter that ended on September 30, the company has reported a Consolidated Total revenue of ₹27.68 crore, up 153.25% from last quarter's Total revenue of ₹10.93 crore and up 164.41% from last year's same quarter, total revenue of ₹10.47 crore. The company has reported net profit after tax of ₹2.13 crore in the latest quarter.

Dhani Services Ltd

The company is transitioning its credit product model from a monthly subscription to an annual membership fee, shifting from a subscription-based approach to a direct credit model for store purchases. The new structure resembles Amazon Prime, with credit for store transactions serving as the key differentiator for paying members. The company currently has no plans for restructuring or pursuing inorganic growth. According to the management, value unlocking will stem from increased traction in its marketplace model and the Dhani Plus model. The long-term strategy focuses on minimizing negative carry costs by leveraging the entire back-end infrastructure and ecosystem to attract a wide range of sellers and products. In its Q2 FY25 results, the company reported a net profit of ₹4.19 crore, marking a turnaround from losses in both the previous year’s quarter and the last quarter.

Oswal Agro Mills Ltd

In Q2 FY25 net profit of Oswal Agro Mills reported ₹2.05 crore as against a net loss of ₹0.69 crore during the previous quarter ended September 2023. Sales declined 7.69% to ₹0.36 crore in the quarter ended September 2024 as against ₹0.39 crore during the previous quarter ended September 2023

IFCI Ltd

In Q2 FY25, IFCI reported a 7.47% year-on-year increase in revenue, reaching ₹586.91 crore, while net profit declined by 12.73% YoY to ₹82.62 crore. On November 22, 2024, the company's board approved a consolidation plan as directed by the Ministry of Finance. The merger will integrate StockHolding Corporation of India Ltd, IFCI Factors Ltd, IFCI Infrastructure Development Ltd, and IIDL Realtors Ltd into IFCI Ltd, the listed entity.

Broking businesses, including StockHolding Services Ltd, IFCI Financial Services Ltd, IFIN Commodities Ltd, and IFIN Credit Ltd, will be combined into a single subsidiary under the consolidated entity.

Other entities like StockHolding Document Management Services Ltd, StockHolding Securities IFSC Ltd, IFIN Securities Finance Ltd, IFCI Venture Capital Funds Ltd, and MPCON Ltd will remain as direct subsidiaries.