According to Capitaline data, 27 stocks have emerged as multibaggers since the last Union Budget, delivering exceptional returns despite challenging market conditions. Cupid leads the pack with the most dramatic gains, rising from ₹71.77 to ₹401.5 per share, delivering a massive 459% return. Elitecon International follows with gains of 315%, climbing from ₹15 to above ₹63 per share, while Sri Adhikari Brothers has delivered approximately 307% returns, skyrocketing from ₹407 to ₹1,655 per share. City Pulse has surged 215%, Force Motors has delivered 204% returns, and Hindustan Copper has generated 188% returns since the last budget. As per Mint analysis, all these multibagger stocks belonged to the mid-cap and small-cap categories, with Multi Commodity Exchange having the highest market capitalisation of over ₹64,000 crore.
These multibagger stocks demonstrated remarkable resilience against multiple headwinds that impacted the broader Indian stock market. The stocks withstood challenges including Trump's tariffs, global trade war buzz, geopolitical tensions, especially the US-Iran and Russia-Ukraine war, continuous selling by Foreign Institutional Investors (FIIs), and a free fall in the Indian National Rupee (INR) against the US Dollar (USD). The stocks maintained their upward trajectory despite these factors that typically create opportunities for bears to gain momentum in the market.
According to Mint reports, Cupid continued its strong performance with a 4:1 bonus issue approved by the board and the company posting its best-ever quarterly performance for the October-December period with a 196% year-over-year surge in net profit to ₹33 crore. Elitecon International saw dramatic volatility, reaching a high of ₹400 during the year before slumping dramatically, though it has managed to multiply investor wealth. Sri Adhikari Brothers has maintained its multibagger status with strong performance across different timeframes, while Multi Commodity Exchange recently posted stellar earnings thanks to the jump in trading volumes amid a record rally in gold and silver prices.
As reported by Mint, market experts anticipate the Central Government will increase budget allocation to defence and infrastructure sectors, especially railway, oil, and energy sectors. They expect a consumer-oriented budget designed to counter external threats such as trade wars, tariffs, and geopolitical tensions. Jefferies believes a sharper push in defence capex, potentially growing by more than 20%, would be positive for defence PSUs and contractors, while incentives linked to affordable housing and insurance could support lenders and life insurers. The global brokerage expects the government to continue fiscal consolidation at a slower pace, with FY27 deficit seen around 4.2-4.4% of GDP.
