4 multibagger MNC stocks with 1-year return up to 148%: Do you own any?
MNC stocks can be lapped up by investors seeking stability and growth for their investment portfolios. Over the past one year, Nifty MNC index representing 30 listed companies on the NSE with foreign promoter shareholding of over 50 per cent, outperformed the headline Nifty 50 index generating return of 37 per cent. So, in the run-up some of the MNC stocks turned multibaggers and multiplied investors' wealth substantially. The return calculation is done based on Monday’s closing price (May 6, 2024).
Hitachi Energy India
Hitachi Energy India formerly known as ABB Power Products and Systems India Limited) is the Indian arm of Hitachi Energy - a global leader in power technologies. The company’s stock over the last one year has given 147.6 per cent return.
Cummins India
The company is engaged in the manufacturing of diesel and natural gas engines, generator sets and allied services. Over the past one year, this MNC company’s stock has generated 113.7 per cent return for its investors.
Linde India
The company is into the manufacturing of liquefied or compressed inorganic industrial or medical gases and construction of utility projects. The company’s share price in the last one year has zoomed over 109 per cent.
KSB Ltd.
This company’s stock has given a return of 105 per cent in the past one year. The company manufactures power driven pumps and industrial valves.
Other notable gainers
Some of the other MNC stocks that have reaped handsome returns over the past year are ABB India, Colgate Palmolive, Castrol India and Siemens among others.