Up to 300% returns! Check 2024's top performing IPOs
What's the story
The Indian stock market has had a solid 2024, with many mainboard issues garnering massive interest from investors.
Out of the 75 mainboard IPOs, a whopping 48 have given stellar returns to investors. These stocks have skyrocketed up to 311% over their issue prices.
More than 300 companies have debuted on Dalal Street this year, a sharp rise from last year's 238 IPO listings.
Top performer
Jyoti CNC Automation leads with 311% return
Jyoti CNC Automation Limited has become the best performer among newly listed stocks this year.
The company's shares are now trading a whopping 311% above their issue price of ₹331 per share.
The stock has continued to rise since its debut on Dalal Street on January 16, after an IPO subscription period from January 9-11.
Today, it gained 2.56% to close at ₹1,363.
Stellar performance
KRN Heat Exchanger and Refrigeration delivers 282% return
Another star performer is KRN Heat Exchanger and Refrigeration Limited, whose shares are trading 282% higher than their issue price of ₹220 per share.
The company's stock closed at ₹841 apiece on today, rising 2.11%.
Since its IPO subscription period between September 25-27 and listing on October 3, the stock has been a consistent overachiever.
Impressive returns
Premier Energies and Platinum Industries record significant gains
Premier Energies Limited and Platinum Industries Limited have also posted stellar gains this year.
Premier Energies's stock has surged 176% higher from its issue price of ₹450 per share, closing at ₹1,273 apiece on December 5.
Platinum Industries's shares, on the other hand, are trading 172% higher than their issue price of ₹171 per share, closing at ₹466 apiece today.
Market debut
Bharti Hexacom and JG Chemicals make strong market debuts
Bharti Hexacom Limited and JG Chemicals Limited have made stellar market debuts this year.
Shares of Bharti Hexacom, a Bharti Airtel subsidiary, are currently trading 147% higher than their issue price of ₹570 per share.
Meanwhile, JG Chemicals's stock is trading 97% higher from its issue price of ₹221 per share.
These companies have joined the list of top-performing newly listed stocks in 2024, further highlighting India's strong primary market this year.
Stock performance
Gala Precision Engineering and Exicom Tele-Systems outperform issue prices
Gala Precision Engineering Limited and Exicom Tele-Systems Limited have also beaten their issue prices.
Shares of Gala Precision Engineering are trading 92% higher than their issue price of ₹529 per share, while Exicom Tele-Systems's stock is up 95% from its issue price of ₹142 per share.
Final performers
Bajaj Housing Finance and Orient Technologies conclude top 10 list
Bajaj Housing Finance Limited and Orient Technologies Limited complete the top 10 list of best-performing newly listed stocks in 2024.
The Bajaj Group company has given a return of 110% to investors against its issue price of ₹70 per share, while shares of Orient Technologies are trading 105% higher than their issue price of ₹206 per share.
The strong performances of these companies highlight the overall robust health of India's primary market this year.