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Move over bitcoin! These 12 Indian stocks have zoomed up to 638% in 3 months

Those who invested in select stocks in equity market have beaten bitcoin by a wider margin.

, ETMarkets.com|
Updated: Dec 06, 2017, 05.03 PM IST
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Data available with corporate database showed that 12 stocks in the listed universe on BSE spurted at least over 165 per cent in the past three months.
Data available with corporate database showed that 12 stocks in the listed universe on BSE spurted at least over 165 per cent in the past three months.
NEW DELHI: Forget the meteoric rise in bitcoin over the past few months. As many as 12 stocks from India have beaten the controversial cryptocurrency in terms of returns to investors.

With a rise of around 165 per cent during the last three months, bitcoin has undoubtedly stolen the show. But those who invested in select stocks in the domestic equity market have beaten the cryptocurrency by a wider margin.

Data available with corporate database, Capitaline showed that 12 stocks in the listed universe on BSE spurted at least over 165 per cent in the past three months.

Smallcap firm SORIL Holdings surged 638 per cent to Rs 240.15 on December 5 from Rs 32.55 on September 5. California Software and Urja Global also climbed 632 per cent and 390 per cent, respectively.

Apex Frozen, Nagreeka Cap, MIRC Electronics, Butterfly Gandhimathi Appliances, KIOCL and Sanwaria Consumer advanced between 200-290 per cent in the past three months.

Also Read: Bitcoin climbs to $12,000 as futures move closer to reality

MIRC Electronics recently announced that its board has approved the issue of 1.92 crore equity shares and 1.92 crore warrants convertible into equity shares on a preferential basis at Rs 37.53 to non-promoters including Ashish Kacholia, Nisarg Vakharia and Preeti Kacholia to augment its long-term working capital and corporate requirements. This would result in an infusion of Rs. 144.12 crore worth of equity into the company. The company is engaged in the business of manufacturing and marketing of electronics goods under the brand names, Onida and IGO.

Butterfly Gandhimathi Appliances (BGAL) reported strong set of Q2FY18 results. Revenues for the quarter grew by 29.6 per cent year-on-year to Rs 201 crore. The growth was supported by healthy traction in cooker/cookware and appliances segment.

Move over bitcoin! These 12 Indian stocks have zoomed up to 638% in 3 months

Bitcoin surpassed over $12,260 on December 6 against $4,626 on September 6, indicating a rise of 165 per cent during the same period.

Besides the above mentioned stocks, SIL Investments, Shekhawati Poly and Avon Lifescience also soared over 165 per cent during September 5 and December 5 this year.

More than 30 other stocks also surged over 100 per cent in the past three months. The list included Soril Infra, Rain Industries, HEG, Graphite India, TVS Elec, Dolat Investment, DIL Ltd, Kolte Patil, Tips Industries and Zen Technologies.

Stock picker Dolly Khanna’s favourite Rain Industries advanced 144 per cent to Rs 348.65 on December 5 from Rs 142.75 on September 5. Brokerage firm Motilal Oswal has a ‘Buy’ rating on Rain Industries, with a target price of Rs 492.

Bitcoin on Wedensday surpassed $12,000 for the first time amid speculation that the widespread use of futures will help lead to digital currencies being viewed as a legitimate asset class for mainstream investors, according to Bloomberg.

The Reserve Bank of India on Tuesday reiterated its concerns about Bitcoins stoking fears that a rapidly swelling bubble could burst in a spectacular fashion.

Also Read

Bitcoin no longer seen as the driving force in crypto market

Bitcoin plummets to a six-month low on China crackdown

Binance acquires Mumbai’s bitcoin exchange WazirX

Bitcoin surges as much as 18% in bounce back from 5-month low

Bitcoin is posting biggest weekly decline since November

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