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Multibaggers of lockdown: These 18 stocks more than doubled investor wealth

The S&P BSE Sensex hit an intraday low of 25,638 while the Nifty50 made a swing low of 7,511 on March 24, and since then both the benchmark indices have rallied more than 30%.

June 10, 2020 / 03:46 PM IST

A nationwide lockdown of 21 days was imposed by the government from March 24, 2020, and that was the day when D-Street made an intermediate bottom.

The S&P BSE Sensex hit an intraday low of 25,638 while the Nifty50 made a swing low of 7511 on March 24, and since then both the benchmark indices have rallied more than 30 percent to climb above crucial resistance levels.

While Sensex and Nifty might have rallied by over 30 percent since March 24, there are 18 stocks in the S&P BSE500 index that have more than doubled investor wealth in the same period.

Stocks that have more than doubled investors’ money include EID Parry, Adani Green Energy, IFCI, KRBL, Aurobindo Pharma, HEG, Reliance Power, and Vodafone Idea.


“Stock like Vodafone have witnessed massive erosion in prices. Being highly oversold, these stocks have bounced back. Further, Aurobindo Pharma, Glenmark, and Jubilant Life Science have been in a correction since 2018. Being oversold and the pharma sector reviewing was the initial trigger for these stocks to rally,” Abhishek Karande, CMT, Senior Analyst at Reliance Securities told Moneycontrol.

BSE 500 March 24
The next question is – will the winners of the lockdown carry the momentum in the near future as well? Experts feel that much of the rally in the stocks is also on account of speculation; hence, investors could well book profits as uncertainty prevails.

“While there are fundamental tailwinds for the sector or stock in particular for many, few scripts have also rallied on account of speculation,” Paras Bothra, President of Equity Research, Ashika Stock Broking told Moneycontrol.

“In any case, there will be a call to book profits every now and then and is the right approach as the uncertainty is likely to prevail for some time,” he said.

The one rule which every investor should follow while buying the stock is the core fundamentals of the company and the viability of the business because the post-COVID-19 world might be different from the pre-COVID world.

Not all companies are ideal long-term bets, but some of them are just catching up after witnessing massive selloff in the recent past, suggest experts.

“While the stocks on the list might have given significant returns since the 24th of March we believe that Investors should not focus too much on historical returns but rather on the quality of business as we believe that only companies with strong business franchises and revenue visibility will create value for investors over the long run,” Jyoti Roy, DVP Equity Strategist, Angel Broking Ltd told Moneycontrol.

“Therefore, investors would need to evaluate every company in the list on its own merit then take a call whether to continue to remain invested or book profits at current levels. While some of the stocks in the list would fit the bill of long term investable opportunities others may not fit the bill,” he said.

10 Nifty stocks rose over 50%:

The S&P BSE Sensex and Nifty50 have rallied over 30 percent from March 24 and nearly 50 percent of the Nifty50 stocks have outperformed the index since then.

As many as 23 stocks rallied more than 35 percent since March 24, and 10 stocks gave a return of more than 50 percent in the same period.Stocks that rallied more than 50 percent include names like M&M, Tata Motors, Cipla, Reliance Industries, Vedanta, ZEE Entertainment and Bharti Infratel.

Nifty 10 stocks


Disclaimer: The views and investment tips expressed by investment experts on are their own and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Kshitij Anand is the Editor Markets at Moneycontrol.
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