Nifty Capital Goods Stocks

3 Nifty Capital Goods Stocks with biggest price gains so far in 2023

There are forty-eight indexed capital goods stocks on NSE which are part of two indices – Nifty500 & Nifty100. This year the performance of capital goods stocks has been very good as only 6 out of 48 Nifty stocks have registered negative price returns. There are several Nifty capital goods stocks which have delivered price gains of over 70% on YTD basis but there are just three such stocks which have registered price gains between 99%-135%.

Of the three biggest capital goods price gainer stocks of 2023, only one of the stocks can be classified as penny stock as it is price below Rs 100. The other two are mid-cap heavy weights with a strong history of growth.

Mazagon Dock Shipbuilders (NSE: MAZDOCK) is the best performing capital goods stocks followed by Suzlon Energy & Finolex Cables. MAZDOCK is the only PSU in the list and surprisingly tops the list of top performing stock.

Table: 3 Nifty Capital Goods Stocks with 99%-135% gains

Stock 02-Jan 31-Aug YTD Jun Qtr Aug
MAZDOCK         788.2       1,849.0 135% 90% -1%
SUZLON          10.7           24.6 129% 89% 27%
FINCABLES         551.6       1,099.7 99% 5% 9%

Source: NSE Data

MAZDOCK share price was just Rs 788 in the beginning of the year. As on 31 Aug it stood at Rs 1849 with price gains of 135%. MAZDOCK interestingly peaked between Apr-Jun quarter when the stock gained by 90%. In the month of August, the stock witnessed profit booking as it gave negative price returns.

FINCABLES had a remarkable journey from being down and out stock in the beginning of the year. FINCABLES not only recovered from its 52-week low levels but it also hit 52-WEEK high level. The stock was priced at Rs 551 in the beginning of the year and closed the month of August at Rs 1,099 with YTD price gains of 99%.