These Stocks Have Turned Multibaggers in 2021. Do You Own Any?

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  • Aug 9, 2021 - These Stocks Have Turned Multibaggers in 2021. Do You Own Any?

These Stocks Have Turned Multibaggers in 2021. Do You Own Any?

Aug 9, 2021

In the ongoing bull market, the indices have hit record highs.

A huge number of stocks have also gained. Many have doubled since the start of this year. These multibagger stocks are from smallcap, midcap, and largecap space too.

Let's look at the stocks from BSE 500 index that have gained the most since 1 January 2021.

#1 Happiest Minds Technologies

Happiest Minds Technologies, incorporated in the year 2011, is a large cap company, operating in the IT sector.

The company is headquartered in Bangalore, with operations in the US, UK, Canada, Australia, and Middle East.

It's ranked fourth in IT services which works on disruptive technologies such as artificial intelligence, blockchain, cloud, digital process automation, internet of things, robotics/drones, security, virtual/augmented reality, etc.

Since the start of this year, the stock has gained 320%. It was quoting at Rs 339.55 on 1 January 2021 with a marketcap of Rs 49.9 bn.

Skip forward to today, it currently trades at Rs 1,426.55, with a marketcap of Rs 211.2 bn.

At a time when foreign portfolio investors (FPIs), mutual funds, and HNIs are reducing their stake in the company, retail investors are doing otherwise.

As per a report, around 1.35 lakh retail investors entered the stock in the recently concluded June quarter.

The stock has seen a significant rally after the company announced it is among India's top 25 best companies to work for in 2021 in June.

Another reason is the continued growth is the optimism shown by its management. They sales will improve this year, leading to higher profits.

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#2 JSW Energy

JSW Energy and its subsidiaries are primarily engaged in the business of generation of power from its power assets located at Karnataka, Maharashtra, Nandyal, and Salboni. It's the holding company for the JSW group's power business.

The company also has a joint venture company engaged in mining activities and an associate engaged in manufacturing of turbines.

Since the start of this year, shares of the company have gained as much as 270%.

Increasing FII holding has helped the stock. As of June 2021, promoters held 74.7% stake in the company, while FIIs held 5.9%.

Another reason for the bullishness is the company is reducing its debt consistently.

Just recently, JSW Energy shares scaled new highs after the company's arm signed a power purchase agreement (PPA) with Solar Energy Corporation of India (SECI).

#3 Balaji Amines

Balaji Amines share price has gained on a similar base as compared to JSW Energy. Since the start of this year, the stock is up 266%.

Balaji Amines specialises in manufacturing methylamines, ethyl amines, derivatives of specialty chemicals and pharma excipients. It's one of the largest manufacturers of aliphatic amines in India.

From at Rs 938 on 1 January 2021 with a marketcap of Rs 30.4 bn, it currently trades at Rs 3,437 with a marketcap of Rs 110.8 bn.

The company has reported impressive results for the quarter ended June 2021.

Balaji Amines has a low debt to EBITDA ratio of 0.62 times. Also, the stock has outperformed its benchmark BSE 500 index in the last 3 years, 1 year, and 3 months.

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#4 Deepak Fertilisers

Shares of Deepak Fertilisers and Petrochemicals have gained 200% since the start of this year.

Shares of fertiliser producers have been in focus of late after some of the Chinese companies said they would stop exporting to assure supplies in their domestic market.

This move could benefit Indian companies.

Expectations of a normal monsoon for the third consecutive year has also boosted demand for complex fertilisers.

The company is in talks with multiple foreign companies for potential partnerships, as it looks to hive off its key businesses into separate corporate entities.

In May this year, the government increased the fertiliser subsidy allocation by Rs 147.8 bn, taking the total outlay for fiscal 2022 to Rs 943.1 bn.

The company has low debt and has reported positive results for the past five quarters.

#5 Gujarat Fluorochemicals

Gujarat Fluorochemicals share price has risen 200% since the start of this year.

The company is engaged in manufacturing and trading of refrigerant gases, caustic soda, chloromethane, polytetrafluoroethylene (PTFE), fluoropolymers, fluoro-monomers, specialty fluoro-intermediates, specialty chemicals, and allied activities.

The company has launched new products in fluoro specialty chemicals segment and is witnessing increasing demand from domestic as well as overseas customers to de-risk from China.

It's also witnessing increasing demand for new molecules by the agro as well as pharma industry.

Gujarat Fluorochemicals has been adding various new products and has filed for Lithium Hexafluoro Phosphate (LiPH6) as one of the products.

Due to rising emphasis on electric vehicles (EVs), demand for LiPH6 is expected to rise.

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HFCL is a diverse telecom infrastructure enabler with active interest spanning telecom infrastructure development, system integration, and manufacture and supply of high end telecom equipment, optical fiber and optic fiber cable (OFC).

Since the start of this year, HFCL shares have gained 177%.

A sharp rally in the stock price did see marketcap of HFCL vault past the Rs 120 bn mark when its shares touched a high of Rs 95.70. Currently, it stands at Rs 88.9 bn.

5G technology is the next big upgrade for telecommunication networks and HFCL is gearing up to offer various products, solutions and services for this segment.

#7 Alkyl Amines

Alkyl Amines is a leading manufacturer of aliphatic amines in India.

Shares of chemical companies have been on a tear for quite some time now and Alkyl Amines is one such stock that has given 174% returns since the start of this year.

Brokerages are bullish on the sector opining reason such as India's share in specialty chemicals is expected to double over the next five years.

Other factors also favour Indian chemical companies including strong domestic consumption led by a young population, favourable labour cost (one-third that of China/half that of Vietnam), and government impetus.

Here's an interesting data on the company.

Alkyl Amines had a market cap of less than Rs 1 bn, with barely 11,000 shares traded on a daily basis in the year 2010-11. The stock was priced well below Rs 50 and traded at a price to earnings ratio of 7 to 8 times.

The stock is since up 12,640%. An annualised return of over 60%.

In the last decade, the stock has multiplied its topline and operating profits by 14 times and 65 times, respectively.

#8 Lux Industries

Lux Industries has emerged as one of the largest players in the hosiery business having a market share of 14% of the organised industry. It's the largest mid-segment hosiery enterprise in India.

The stock has delivered 156% returns since the start of this year.

The company is eyeing a double-digit growth in fiscal 2022, along with improvement in EBITDA margins.

It's also confident of maintaining margins in the 20-21% range, banking on improved product mix, higher realisations, cutting back costs, and advertising & promotion expenses continuing to be lower than normal years.

It's a debt-free company and has plans of a pre-approved capex of Rs 1.1 bn.

FPIs have been increasing their stake in Lux Industries. Apart from that, the company's promoters have also increased stake.

In the June quarter, promoter holding in the company increased by more than 2%. It's a zero promoter pledge company.

#9 HEG

Shareholders have enjoyed gains of 1.5x in the stock of HEG since the start of this year.

HEG is India's leading graphite electrode manufacturer. It has one of the largest integrated graphite electrode plants in the world, processing sophisticated UHP (Ultra High Power) electrodes.

It's the premier company of the LNJ Bhilwara group.

Commodity stocks like HEG have entered an upgrade cycle after 2-3 weak years.

Graphite electrodes are used in steel production via the electric arc furnace (EAF) process. For HEG, exports to steel companies account for 65-70% of the total sales. Excluding China, steel production is rising across the world since October 2020.

So far, electrode prices are already up around 20%.

HEG's management is expecting electrode prices to start firming up from the next quarter amid rising steel production and normalised inventory levels.

#10 eClerx Services

EClerx Services share price has gained 140% since the start of this year.

As per reports, the company is witnessing improving growth in its customer care, RPA, analytics, and content development.

The company has also reported higher revenues and an improvement in margins.

EClerx Services provides business services to global fortune 500 clients, across financial services, cable and telecommunications, retail, fashion, media & entertainment, manufacturing, travel and leisure, software, and hi-tech.

Other stocks that have gained more than 100% this year

Apart from the above, here are a few other stocks from the BSE 500 index that have more than doubled investors' money.

Company 1-Jan-21 6-Aug-21 % change
Adani Enterprises Ltd. 490.85 1,536.40 213%
Adani Total Gas Ltd. 376.60 924.95 146%
IIFL Finance Ltd. 117.10 287.3 145%
DCM Shriram Ltd. 396.20 971.95 145%
Graphite India Ltd. 306.55 728.8 138%
Hindustan Copper Ltd. 62.05 144.5 133%
Gateway Distriparks Ltd. 121.05 280.5 132%
JK Paper Ltd. 113.80 258.35 127%
Tata Elxsi Ltd. 1865.65 4,228.15 127%
Intellect Design Arena Ltd. 309.60 674.4 118%
Source: Equitymaster

How to identify multibagger stocks?

Just like a puppy chasing its tail, investors often chase 'the next best thing', be it electric vehicle revolution, drone stocks, or stocks with cutting edge technology.

They do so even if that means the company is not profitable or does not have decent financials.

For identifying multibaggers, the goal of an investor should be to look for a good investment and not necessarily a multibagger.

This is because you need to have a thorough process for investing that meets all your criteria.

If you go in with the assumption that every stock you invest into will be a multibagger, you will be disappointed. It won't work out that way.

The future is uncertain. Your rationale for buying a stock may change and you will have to watch out for that.

The idea should be to buy a good quality stock of a company, run by an able and honest management team, available at attractive valuations.

Co-head of Research at Equitymaster, Rahul Shah recently recorded a video showing a low risk strategy for finding multibaggers.

Happy Investing!

Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. Learn more about our recommendation services here...

Equitymaster requests your view! Post a comment on "These Stocks Have Turned Multibaggers in 2021. Do You Own Any?". Click here!

1 Responses to "These Stocks Have Turned Multibaggers in 2021. Do You Own Any?"

Mandyam Rangaraj

Aug 9, 2021

excellent definition of a multibagger. Will follow your advice

Equitymaster requests your view! Post a comment on "These Stocks Have Turned Multibaggers in 2021. Do You Own Any?". Click here!

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