3 Capital Goods Stock with 87%-141% YTD Price Rise in 2023
The Indian stock market has been under bull run for a few months since the month of May. It regained not only the ground lost in first three months but has also propelled to a new high level in 2023. The recent FII sell-off due to fed rate hike only provided a minor breather to the market in terms of profit booking. Though, the overall stock market in India rose by 12% by end of July, but there were many Nifty listed stocks which outperformed the index. There are three capital goods stocks listed in Nifty500 index which delivered price gain ranging from 87% to 141% by end of July.
Two out of three stocks were priced under Rs 1,000 at the beginning of the year and have grown tremendously since then.
Mazagon Dock Shipbuilders Ltd (NSE: MAZDOCK) is the best performing capital goods stocks in India so far with 141% share price gains as on 31 July 2023. MAZDOCK share price rose from Rs 788 in January to 1,246 by 30 Jun. In the month of July itself MAZDOCK share price witnessed 47% spike.
Table: 3 Capital Goods Stock with YTD Price Rise
Finolex Cables (NSE: FINCABLES) had began the year after recovering from a 52-week low price. Since then, it has not only recovered but has also closed on to its 52-week high. FINCABLES has gained 91% since the beginning of 2023. In the month of July FINCABLES’ share price rose by 24%.
Polycab India (NSE: POLYCAB) is the third most performing capital goods stocks on NSE in 2023. POLYCAB stock witnessed a spike of 87% on a YTD basis. POLYCAB stock was priced at Rs 2,580 in the beginning of the year and by end of July it stood at Rs 4,817. In the month of July, POLYCAB share price rose by 37%.