Retail Investors’ top 30 firms with the largest base, with 10 out of them showing at least a 100% rise in their fiscal year.
Indian equities experienced a strong year in 2023-24, with the NSE Nifty 50 rising 30% and midcap and smallcap indices surging up to 70%. Several stocks with a high retail investor base doubled during the year.
Indian Railways Finance Corp’s (IRFC) stock surged over 435 percent in FY24, valued at Rs 19,500 crore, with 32 lakh retail investors holding 138 crore shares. The company’s market cap is Rs 1.74 lakh crore, making it the most valued railway stock. Analysts advise investors to exit due to top-down bullish sentiment.
Suzlon Energy’s stock surged 412 percent in FY24, valued at Rs 23,462 crore, with over 34 lakh retail investors holding 579 crore shares. Analysts anticipate growth in India’s wind turbines market, but risks include adverse government policies, slower uptake, and intense competition.
Zomato’s stock has risen by 258 percent in FY24, with 17 lakh retail investors holding 63.34 crore shares valued at Rs 11,550 crore as of the last close.
Reliance Power’s shares soared 184% in FY24, with 35 lakh shareholders holding around 202 crore shares valued at Rs 5,711 crore. The company aims to become debt-free by FY23-24, with only a working capital loan remaining. Reliance Infrastructure is settling dues to JC Flowers Asset Reconstruction Company.
Jaiprakash Power Ventures’ stock increased by 175% in FY24, with 17.55 lakh retail holders owning over 256 crore shares valued at Rs 3,915 crore. The company reduced its debt from Rs 11,150 crore in FY19 to Rs 4,754 crore by FY23, indicating profitability and growth.
The Punjab National Bank‘s stock increased 166% this fiscal, with 21.30 lakh individual shareholders holding 96.46 lakh shares valued at Rs 12,000 crore. Analysts argue PSU banks are undervalued compared to private banks due to improved asset quality.
Tata Motors’ shares rose by 136% this fiscal, with 51.33 crore shares valued at Rs 50,972 crore, held by 41 lakh individual shareholders.
Vodafone Idea’s shares surged 128 percent in the fiscal year, valued at Rs 6,044 crore, with 31 lakh individual investors holding 456.54 crore shares, driven by fund infusion and fundraising plans.
Indian Oil Corp experienced a 115 percent increase in FY24, with 20.32 lakh retail investors holding 95.3 crore shares valued at Rs 16,000 crore.
Tata Power Co Ltd’s stock has risen by 107% this fiscal, with 39.28 lakh individual shareholders holding 75.52 crore shares valued at Rs 30,000 crore.