These stocks defy gravity; turn multibagger in just one month!

May turned around to be marvellous month for the markets as the Indian benchmark indices logged fresh all-time high with Nifty closing above the 15,550 mark for the first time ever. Moreover, it jumped about 6.50 per cent during the month of May, which is the second-best month in the calendar year 2021 so far.   

The strong momentum in the markets were seen on the back of the steady decline in daily COVID-19 infection, rising hope for another stimulus package to support the most affected sectors in the second wave with an excellent Q4, sharp plunge in the volatility index i.e., India VIX and supportive global cues.   

Despite the key benchmark indices displaying a fabulous performance during the month of May, there are several stocks in NSE, which have not only outperformed the key benchmark indices but also, doubled investors’ wealth in May. To be precise, there were 12 stocks that have doubled investors’ wealth in May 2021. However, we have ignored the stocks that are in the T2T segment along with the stocks that witnessed less than 50 trades. So, now the list is refined to only four stocks.   

So here is the final list: 

1.      Gammon Infrastructure Projects: The stock has gained nearly 121.5 per cent in the month of May and on the monthly chart, it has formed a bullish closing Marubozu candlestick pattern. Furthermore, FII/FPI has increased holding from 1.09 per cent to 10.21 per cent in March 2021 quarter.   

2.      Tide Water Oil: The stock has jumped 112.74 per cent in the month of May. Besides, the board meeting of the company is scheduled to be held on June 10, 2021, for the consideration of audited financial results for the quarter & year ended March 31, 2021, for the recommendation of final dividend for the financial year 2020-21 and book closure thereof. It will also include the recommendation of sub-division of shares & bonus issue of the shares of the company.  

3.      Shreyas Shipping & Logistics: The stock soared 117.35 per cent in a single month and interestingly, this stock too had formed a bullish closing Marubozu candlestick pattern on the monthly chart. 

4.      Angel Broking: The stock rose 104.46 per cent in the month of May and it has formed a bullish opening Marubozu candlestick pattern on the monthly chart. This stock has benefitted from record-breaking demand accounts being added in FY21.