Favourite Stocks of FY24

Looking back at the performance of Indian equities in FY24 →

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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!

📌 By the way, we’re making a few changes to this newsletter starting next week. Give us your feedback here and we’ll make it worth it!

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 👇🏼

Source: Mint, Bloomberg

Source: Mint, Bloomberg

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.

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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.

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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.

⚠️ Note that none of the stocks are intended as recommendations. Please do your own research before trading / investing.

If you want to learn to spot multibaggers yourself, none better than Mr. Arvind Kothari, founder of Niveshaay. Uncover his stock-picking secrets in his How to Pick Stocks for Long Term Course. Use STOCK10 for a 10% discount & get the course for just ₹359.

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