Three of the Murugappa Group stocks turn multibaggers from last Diwali to this one; top-performing stock delivers 121 per cent returns!

So, here is the performance of the stocks of Murugappa Group from last Diwali to this one:

The countdown to the festival of lights has already begun and celebrations are expected to be extra special this year after a two-year hiatus due to the coronavirus pandemic. Touted as India’s biggest festival, Diwali is marked to observe the victory of good over evil.

Interestingly, the festival of lights also brings with it an array of interesting activities focussed on creating wealth and prosperity. Nevertheless, Lakshmi, the Hindu Goddess of Wealth, is worshipped on this occasion. 

Now, let us see how the markets performed from last Diwali to this one! The benchmark NSE Nifty 50 index is down by nearly 1 per cent; however, the performance of the benchmark index might not appear fascinating but the truth is that it has relatively outperformed its western peers. With this relative outperformance, there was one group that soared over 45 per cent from last Diwali to this one (custom-made index of this group of stocks). This group is a prominent one known for value creation and high standards of governance from India and their stock performance over the last nearly one year.

This group is none other than Murugappa Group, which is one of the most well-known and celebrated groups in the country! It began as a banking enterprise in the pre-World War 1 era in Burma (Myanmar).    

Shifting to India during the turbulent war years, the group established its base in the South. It grew by leaps & bounds as well as by building strong market-leading companies in critical sectors like agri-solutions, financial services, and engineering. 

So, here is the performance of the stocks of Murugappa Group from last Diwali to this one: 

Out of nine stocks, three turned multi-baggers post gaining over 100 per cent led by Shanti Gears, followed by CG Power & Industrial Solutions, and Tube Investments of India. 

Do you think that the stocks of Murugappa Group would be able to outperform between this Diwali and the next one (2023)? Share your views in the comments section!