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These 34 stocks turned multibaggers in Nifty's journey from 14,000 to 17,000

In 2021, investors' wealth increased significantly by nearly Rs 62 lakh crore as the BSE market capitalisation increased to Rs 2,50,02,084 crore from Rs 1,88,03,518 crore

August 31, 2021 / 06:04 PM IST

The market has been on a record-breaking spree for more than a year now, doubling the gains from March 2020 lows.

On August 31, the Nifty50 crossed the psychologically important 17,000-mark and the Sensex galloped past 57,000 levels, gaining 22.4 percent and 20.5 percent, respectively, in 2021. It took the index just 28 days to move from 16,000 to 17,000.

The Nifty has been in a tearing hurry ever since it ended at 13,981.75 on December 31, 2020 after hitting 14,000 during intraday trade. In the Nifty’s eight-month journey from 14,000 to 17,000, 34 Nifty500 stocks turned multibaggers, with JSW Energy, Adani Total Gas, and Adani Transmission emerging as top gainers, rallying 244-272 percent.

This rally is largely being attributed to the Federal Reserve’s dovish stance, a weaker dollar and a rebound in business activities to pre-Covid levels. The increased pace of vaccination, improved earning earnings and economic growth too have helped even as the risk of a third wave looms. A rush of retail investors, too, has supported the market.

"A distinguishing feature of this bull market which started in April 2020 is that it has been remarkably stable without any major correction," said Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.


Gujarat Fluorochemicals, Alkyl Amines Chemicals, HFCL, Tata Elxsi, IIFL Finance, Linde India, Lux Industries, JK Paper, Tata Steel, BASF India, Persistent Systems, Mindtree, HEG, Graphite India, Indian Energy Exchange, JK Lakshmi Cement, NALCO and Trident are among the other stocks to turn multibaggers.

“The newbie retail investors who entered the market since April 2020 (1.42 crore new Demat accounts opened in FY21) have been buying every dip, successfully. The Fed has given a commentary favourable to bulls,” Vijayakumar said.


The next 117 stocks in the Nifty500 rallied more than 50 percent. These include Jindal Stainless, Bajaj Electricals, KNR Constructions, Apollo Hospitals, Polycab India, JK Tyre, Gujarat Gas, Adani Power, IRCTC, Hindalco Industries, Bajaj Finserv, Vedanta, Fortis Healthcare, Birla Corporation, JSW Steel, PNC Infratech, Dr Lal PathLabs, Tata Power, Indiabulls Real Estate, Ambuja Cements, L&T Technology Services, Gland Pharma, Hindustan Aeronautics, Wipro, Oil India, Tata Motors and ICICI Securities.

In 2021, investors' wealth increased significantly by nearly Rs 62 lakh crore as the BSE market capitalisation increased to Rs 2,50,02,084 crore from Rs 1,88,03,518 crore.

The broader markets, too, participated in the run and gained much higher than frontline indices. The Nifty Midcap 100 index surged 36 percent and Smallcap 100 index jumped 44 percent.

Experts feel after a sharp rally, some profit-booking or correction cannot be ruled out but advised to use dips as a buying opportunity.

"The flip side of this relentless bull run is the excessive valuation, which exposes the market to an unexpected sharp correction. This market has proved sceptics wrong, till now. Even while enjoying the party, investors should be prepared for a sharp correction. Partial profit-booking is never a bad idea. Dips can be used to buy," Vijayakumar said.

Disclaimer: The views and investment tips expressed by experts on are their own and not those of the website or its management. advises users to check with certified experts before taking any investment decisions.
Sunil Shankar Matkar
first published: Aug 31, 2021 06:04 pm
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