A number of equities with substantial retail investor bases became multibaggers in FY24 by riding the market surge. The top 30 companies with the biggest number of retail shareholders, and 10 of those companies have had at least a 100% increase in revenue this fiscal year.
In FY24, Indian Railways Finance Corp.’s stock increased by more than 435 percent. The 138 crore shares of this stock, valued at Rs 19,500 crore, are held by about 32 lakh retail investors. The corporation is the most valuable railway stock, with a market capitalization of Rs 1.74 lakh crore as of the most recent closing. Experts recommend investors sell, blaming the increase on a top-down bullish sentiment surrounding PSUs rather than meaningful underlying developments. Expecting no significant changes in governance or operations, the majority of international portfolio investors have remained cautious.
In FY24, Zomato’s stock has increased by 258% thus far. As of the most recent closing, over 17 lakh retail investors held 63.34 crore shares, valued at Rs 11,550 crore.
Reliance Power’s stock increased by 184% in FY24; currently, 35 lakh stockholders own about 202 crore shares, valued at Rs 5,711 crore. According to recent sources, Reliance Power wants to be debt-free by FY23–24, with the exception of a working capital loan from IDBI Bank. While its parent firm, Reliance Infrastructure, is attempting to settle debts of approximately Rs 2,100 crore to JC Flowers Asset Reconstruction firm, the company has paid off obligations with ICICI Bank, DBS Bank, and Axis Bank.
Jaiprakash Power Ventures: 175 percent rise, Rs 10,472 crore market capitalization
Over 256 million shares, valued at Rs 3,915 crore, were owned by 17.55 lakh retail holders after the stock of Jaiprakash Power Ventures soared 175 percent in FY24. JP Power Ventures reported profits and improved sales for the previous year, while also considerably reducing its debt from Rs 11,150 crore in FY19 to Rs 4,754 crore by FY23. Analysts claim that this has put the business back on the path to profitability and growth.
Punjab National Bank: 166 percent increase in market capitalization to Rs 1.37 lakh crore
This fiscal year, the stock of Punjab National Bank increased by 166%. over 21.30 lakh individual shareholders now own roughly 96.46 lakh shares in the PSU institution, which is worth at over Rs 12,000 crore. Analysts point out that PSU banks have better asset quality, lower lending costs, and stronger balance sheets than private banks, making them inexpensive in comparison.
Tata Motors: Increased by 136%; Market Capitalization: Rs. 3.30 lakh crore
Tata Motors’ stock soared by almost 136% during this fiscal year. The 51.33 crore shares held by around 41 lakh individual stockholders are presently valued at Rs 50,972 crore.
Vodafone Idea: 128 percent increase, or Rs 6,4452 crore.
Vodafone Idea, a telecom service provider, had a 128 percent increase in share price this fiscal year. Currently, around 31 lakh individual investors own 456.54 crore shares, which are worth Rs 6,044 crore. Amidst expectations of a cash influx from promoters and other fundraising initiatives, the beleaguered telco’s shares has risen.
Indian Oil Corp.: Gain: 115%; Market Capitalization: Rs. 2.37 lakh crore
Indian Oil Corp, a prominent state-owned oil company, saw growth of 115% in FY24. Currently, 95.3 crore shares of the business, valued at Rs 16,000 crore, are held by 20.32 lakh individual investors.