Over 1,200% returns in 2 years, but not over yet: MF still hold these multibagger smallcap stocks

The last two years have seen domestic equity markets go on a roller-coaster ride. The volatility provided active fund managers opportunities to take positions in beaten-down stocks. Many of the stocks in their portfolios turned multi-baggers and have yielded handsome returns.
Here’s a look at the multibagger small-cap stocks that mutual funds continue to hold even after enjoying handsome returns over the last two years. Fund managers feel that these stocks still have the potential to generate additional returns.
Source: ACEMF. Portfolio data as on April 30, 2023.

Rama Steel Tubes
Return over the last two years: (From May 31, 2021 to May 31, 2023): 1,200%
No. of schemes that hold the stock: 1
Sample of schemes that hold the stock long-term: Quant Value

Titagarh Rail Systems
Return over the last two years: 527%
No. of schemes that hold the stock: 5
Sample of schemes that hold the stock long-term: HDFC Balanced Advantage and HDFC Equity Savings Fund

TD Power Systems
Return over the last two years: 430%
No. of schemes that hold the stock: 16
Sample of schemes that hold the stock long-term: ICICI Pru Infrastructure and Nippon India Power & Infra Fund

Apar Industries
Return over the last two years: 420%
No. of schemes that hold the stock: 15
Sample of schemes that hold the stock long-term: Edelweiss Small Cap and HDFC Balanced Advantage Fund

Power Mech Projects
Return over the last two years: 419%
No. of schemes that hold the stock: 4 Sample of schemes that hold the stock long-term: HDFC Small Cap Fund

Also see: 14 new midcap stocks picked up by PMS managers, lately

Elecon Engineering Company
Return over the last two years: 349%
No. of schemes that hold the stock: 3
Sample of schemes that hold the stock long-term: HDFC Multi Cap Fund

Safari Industries (India)
Return over the last two years: 344%
No. of schemes that hold the stock: 23
Sample of schemes that hold the stock long-term: Sundaram Small Cap and Union Small Cap Fund

Raymond
Return over the last two years: 325%
No. of schemes that hold the stock: 2
Sample of schemes that hold the stock long-term: Nippon India Small Cap Fund

Rail Vikas Nigam
Return over the last two years: 307%
No. of schemes that hold the stock: 4
Sample of schemes that hold the stock long-term: Kotak Infra & Eco Reform

Tejas Networks
Return over the last two years: 304%
No. of schemes that hold the stock: 3
Sample of schemes that hold the stock long-term: Edelweiss Small Cap and Nippon India Small Cap Fund

Also see: Long-term wealth creation | Here are the small-cap stocks that children-oriented mutual funds love to hold

Triveni Turbine
Return over the last two years: 294%
No. of schemes that hold the stock: 22
Sample of schemes that hold the stock long-term: SBI Small Cap and Nippon India Multi Cap Fund

Mazagon Dock Shipbuilders
Return over the last two years: 285%
No. of schemes that hold the stock: 3
Sample of schemes that hold the stock long-term: SBI PSU and HSBC Infrastructure Fund

Rajratan Global Wire
Return over the last two years: 278%
No. of schemes that hold the stock: 2
Sample of schemes that hold the stock long-term: SBI Small Cap Fund

Voltamp Transformers
Return over the last two years: 250%
No. of schemes that hold the stock: 14
Sample of schemes that hold the stock long-term: DSP Small Cap and Edelweiss Small Cap Fund

Gokaldas Exports
Return over the last two years: 241%
No. of schemes that hold the stock: 20
Sample of schemes that hold the stock long-term: HSBC Small Cap and Quant Active Fund

Also read: Market CAP below Rs 200 crore, but these nanocap multibaggers remain PMS darlings