Multibagger Stocks! These 4 counters held by over 10 MF schemes more than doubled in 3 months

The last three months was the best time for equities in 2023 and even more for those investors that managed to find a multibagger in their portfolio.

We analysed such stocks that turned a multibagger in just three months and have been part of the portfolio of mutual funds, the domestic big bulls.

The analysis filtered out four such stocks that more than doubled in value in over three months and are held by more than 10 mutual fund schemes.


Let’s take a look at those stocks through this table.


One of the stocks is from Mukesh Ambani-led Reliance Industries’ stable – Network18 Media & Investments.

The stock has given 105% returns in over three months and scaled its highest levels in more than a decade last week. This stock has been held by more than 10 MF schemes in each of the last three months, data by Ace MF showed.

Last month, Ambani proposed the merger of TV18 Broadcast with Network18 Media with a view to consolidate the television and digital news businesses.

The second multibagger stock in the list is Inox Wind, as the renewable energy producer has given 134% returns in over three months and scaled a lifetime high earlier this month. This stock was held by atleast 20 mutual fund schemes in each of the last three months.

As of December end, MF holding in Inox Wind rose to 8.94% from 6.04% a quarter ago, shareholding data on the stock exchanges showed.

Brokerage ICICI Securities believes that Inox Wind is on the perfect pitch to hit a sixer given the positive policy changes in renewable energy and the company’s strategy to rebuild business.

“We expect wind capacity addition to rise from 2 GW in FY23 to over 6.5 GW by FY26. Inox is poised to see its earnings rebound with the execution of 600 MW/850 MW in FY25/FY26,” said the brokerage, which recently initiated coverage on the stock with a “buy” rating.

Let’s now move on to the third stock in the list and that’s from the realty pack. Prestige Estates Projects has given stellar returns of 129% in over three months and scaled a lifetime high earlier this month. It was held by atleast 50 mutual fund schemes in each of the last three months.

Shareholding data showed that HDFC MF is the largest holder among mutual funds with a 4.75% stake.

After a fairly long period of de-rating, the real estate sector saw the beginning of a re-rating cycle, led by the strong recovery in the residential and commercial segments post pandemic.

The Mumbai-based real estate developer boasts of robust pre-sales momentum, strong execution credentials, and a track record of developing and monetising high-quality annuity assets, and Nuvama Institutional Equities believes that improving geographical diversification should help the company sustain its growth trajectory and clock pre-sales CAGR of 18% over FY23-26.

“Pre-sales growth, particularly in the MMR and NCR markets, improvement in office demand and leverage trajectory are likely to be key triggers for the stock, in our view,” the brokeragefirm said.

The last stock in the list is Angel One and this broking firm has doubled in value in over three months and scaled a lifetime high last week. This stock was held by more than 40 MF schemes in each of the last three months. The strong run in equities has aided the rally in the stock.

After a robust earnings growth in the September quarter, the broking firm is poised to repeat the show in the December quarter.

The monthly updates shared by Angel One showed that the broking firm’s gross client acquisition more than doubled year-on-year in each of the last three months. The brokerage has also seen a high double-digit growth in average daily orders in the last three months, and B&K Securities foresees consistent growth in order run-rate per day in FY24 and in FY25.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)