Multibagger Stocks: The year 2022 will be remembered for the stupendous rise in shares of public sector banks and financial companies related to railways. Be it banking stocks or railway stocks, these stocks have given multibagger returns to the investors in the last few months. Now the question arises whether these stocks will continue to grow in 2023 or investors are looking for a new theme this year. So it is believed that financial companies related to power sector can show amazing performance in 2023. Action is also being seen in these stocks.
Action started in Power Finance shares
Finance companies related to the power sector are listed on the stock market, which includes the stock of Power Finance Corporation (PFC) and Rural Electrification Corporation ie REC. Despite the excellent financial results of these companies, they have performed disappointingly on the stock exchange in the last few years. The government’s focus is on a lot of capital expenditure in power finance. And the balance sheet of these companies has improved, so these days many market experts are advising investors to buy shares of Power Finance and REC.
The share of Power Finance Corporation is currently trading at Rs.156. New year 2023 In the two-day trading session, the share of Power Finance has gained 10.63 percent. On October 17, 2022, the stock was trading around Rs 11 and there has been a jump of 56 per cent in Power Finance’s stock. The book value of this share with face value of Rs 10 is Rs 364.67. That is, the stock is trading much below its book value.
Talk about Rural Electrification Corporation i.e. REC, this share is currently trading at Rs.123. And in the new year, there has been a jump of 6 percent in the stock in two days. On October 3, 2022, the stock was trading at Rs 94 and from that level the stock has gained 31 per cent.
Amazing returns in banking stocks in 2022
In the spectacular boom in the Indian stock market, the shares of public sector banks have done wonders. Shares of most public sector banks have given returns of up to 100 per cent to investors. Bank of Baroda has given 145% return to the investors. The share of Punjab and Sind Bank has given a return of 143 per cent. Canara Bank’s stock has given 90% return in one year. The stock of Punjab National Bank has given a return of 104 per cent in one year.
Railway stocks also did wonders
Railway finance companies have also given multibagger returns to the investors. IRFC’s stock has given more than 75 percent return to investors in six months. At the same time, the share of Rail Vikas Nigam Limited is trading at Rs 72 and this share has given 140% return to the investors in 2022. If railway and banking stocks did wonders in 2022, will power sector finance companies be able to do something amazing in 2023?
Disclaimer: (The information provided here is for information only. It is important to mention here that investing in the market is subject to market risks. Always take expert advice before investing money as an investor. digitnews It is never advised to invest money here.)