Key Points
After a rocking 2023, the party in the smallcap universe has continued unabated in 2024, as some of the stocks have turned multibaggers in just three months...
ETMarkets gauged the performance of stocks with a market capitalization of over Rs 1,000 crore in the first three months of 2024, and the analysis filtered out seven smallcap stocks that gave multibagger returns of up to 291% after clocking double-digit gains in each of the last three months...
Topping the list was Waaree Renewable Technologies, which has given a staggering 94% returns in January, followed by 45% returns in February, and another 26% returns in March..
For another BSE-listed smallcap stock, Spright Agro, 2024 turned out to be a comeback year, as the stock gave 244% returns in just three months, after witnessing a steep 68% correction in 2023...
Like every bull market, there are segments that have driven the strong performance, and, hence, there are pockets where there is froth built up..However, we do not expect a sharp correction, rather a combination of time correction as earnings catches up to valuations over the next couple of quarters, along with a shift towards pockets where valuations are still reasonable, said Rishabh Goel of Tailwind Financial Services...
