2021- A Year for Multibagger Stocks

Read to know which stocks have gained the most during the start of 2021..

With at least 46 stocks on the BSE delivering up to 340 percent returns 2021 is turning out to be a year for multibagger stocks. The stocks belonged to small-cap, mid-cap, and large-cap companies. The stocks delivering such high returns can be attributed to good demand from the festive season that is expected to give strong earnings. Here are some of the multibagger stocks listed from the BSE 500 index that have gained the most since 1 January 2021.

Top multibagger stocks of 2021

1. Happiest Minds Technologies
Operating in the IT sector and incorporated in the year 2011, Happiest Minds Technologies is a large-cap company headquartered in Bangalore with its operations in the US, UK, Canada, Australia, and the Middle East. It offers IT services on disruptive technologies such as artificial intelligence, blockchain, cloud, digital process automation, internet of things, robotics/drones, security, virtual/augmented reality, etc.

At the beginning of 2021, the stock gained 320 percent with a market cap of Rs 49.9 billion.

2. JSW Energy
With its primary business being the generation of power from its plants, JSW energy has been acting bullish since the beginning of 2021 as the shares of the company have gained 270 percent. Its bullish nature can be owed to the company’s efforts to reduce debt consistently. Moreover, the increasing FII holding has helped the stock. As of June 2021, the promoters held a 74.7 percent stake in the company against FIIs 5.9 percent. With oil and crude prices surging, an increased focus on cleaner energy solutions will add more gains to its stock. JSW Energy shares have recently scaled new highs after the company’s arm signed a power purchase agreement (PPA) with Solar Energy Corporation of India (SECI).


The stocks are turning out to be multibaggers ahead of the festive season.

3. Bajaj Hindusthan Sugar

As the company name, the returns delivered by this sugar stock have been sweet since the past month. The stock prices of Bajaj Hindusthan Sugar have increased from Rs 14.50 to Rs 16.60 thereby delivering around Rs 14.50 percent return to its shareholders. Considering the timeline from the start of 2021 the stock prices have grown from Rs 6.15 to Rs 16.60 – clocking around 170 percent. Such huge returns can be attributed to the soaring sugar prices globally and the Government of India’s recent decision to sell ethanol-blended petrol with the percentage of ethanol upto 20 percent.

Gujarat Fluorochemicals

The company specialises in manufacturing and trading refrigerant gases, caustic soda, chloromethane, polytetrafluoroethylene (PTFE), fluoropolymers, fluoro-monomers, specialty fluoro-intermediates, specialty chemicals, and allied activities. The share price of Gujarat Fluorochemicals has risen upto 200 percent since the beginning of 2021 and has been receiving demand from overseas as well as domestic customers. The demand from the pharma and agro-industry to develop new molecules and add new products to its portfolio such as Lithium Heaxafluoro Phosphate- an important component for electric vehicles will further drive the rise in its stock price.


HFCL is a telecom infrastructure provider that supplies and manufactures high-end telecom equipment, optic fibre cable, and optical fibre to telecom companies. Since the start of 2021 HFCL shares have gained 177 percent. The rise in the share price of HFCL is due to the rise in emerging 5G technology for which HFCL is gearing to offer various products, solutions, and services to the telecom companies.

With remote working becoming the new normal, and concerns to minimise pollution the emphasis on superior IT services, communication, and clean energy has been high, thereby the stocks of such companies have the probability to grow exponentially and will be delivering huge returns to emerge as multibaggers.

Shalmoli Sarkar
Shalmoli Sarkar
An MBA in marketing and a BTech in chemical engineering, Shalmoli writes on marketing strategies and business technology for new and aspiring entrepreneurs.

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