Favourite Stocks of FY24

Today in less than 5 minutes:

1) Stocks loved by the Indian retail investor in FY24
2) Stock in Spotlight: A company with hidden investments of >300 crores
3) How India missed out on the cocoa rally

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Market Recap FY24

Be it PSU rallies, crowd favourite IPOs, new mutual funds entering the scene, election jitters, or the Paytm crash, FY24 was a total rollercoaster ride 🎢

And looking at the year that went by has so many lessons in store for us. Let’s uncover the top equity trends and performances of the year!

What rallied, what didn’t

In the fiscal year 2022-23 (FY23), there was a significant outflow of ₹37,632 crore by FPIs from Indian markets. However, in the current fiscal year (FY24), FPIs have returned as buyers, and have thus far purchased Indian equities worth ₹2.04 lakh crore, signaling renewed interest and confidence in the market.

Nifty and Sensex gave returns of 28% and 25% this year, the highest in 3 years. Though none of the sectors ended in the red, take a look at the sector winners & losers 👇🏼

While the Nifty Smallcap 100 index gained 76.15% and the Nifty Midcap 100 index gained 62%, over 73% of active mid & small-cap funds failed to even beat the benchmark.

IPO Multi-baggers

FY24 was a standout year for IPOs, with 75 launches—the most in two years. These IPOs raised ₹61,915 crore on the main board, a substantial increase from ₹52,116 crore in FY23.

Out of the 75 IPOs, more than 50 are presently trading above their issue price, boasting an average return of 65%. Notably, five of these IPOs have surged by over 150% from their initial issue prices:
- IREDA
- Signature Global
- Netweb Technologies
- Cyient DLM
- Motisons Jewellers

The average number of retail applications skyrocketed to 1.3 million, showing a significant rise from around 600K in the preceding fiscal year.

10 Most-Loved Stocks of FY24

While 5 stocks from Nifty 50 and a stellar 120 stocks from Nifty 500 emerged as multi-baggers, the following 10 saw the highest retail shareholder base, zooming at least 100% ⬇️

1) IRFC
Surging 435%, the rally was majorly attributed to the PSU fever.

2) Suzlon Energy
A 412% rally was due to growth expectations from India’s wind turbine markets.

3) Zomato
Surging 184%, the fall & rise of this stock kept investors hooked throughout!

4) Reliance Power
Surging 435%, the company’s debt-reduction play worked for this stock.

5) Jaiprakash Power Ventures
Giving a 175%, the company’s growing revenue, profits, & reduced debt was liked by investors.

6) Punjab National Bank
Improved asset quality and strengthened balance sheets gave this stock a 166% rally.

7) Tata Motors
Amongst the favourite multi-baggers of all time, this stock gave a 136% return this year!

8) Vodafone Idea
Rising from the ashes, the stock surged 128% amid fundraising plans.

9) Indian Oil Corp
Gaining 115%, this rally too, was led by the PSU fever.

10) Tata Power
Probably still a favourite, this company has also yielded a 107% return in FY24.

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How was your FY24?

Did your investments do well in FY24? Reply to this email and let us know!