October Multibaggers: 5 stocks doubled investors wealth in a month

The Indian equity market ended October on a strong note, with benchmark indices Sensex and Nifty 50 posting gains of 3–4 per cent. However, the spotlight was firmly on the broader market, where several small-cap counters turned multibaggers, delivering over 100 per cent returns in just one month.

Here’s a look at five such stocks that delivered stellar returns in October.

iStreet Network Ltd

IT services firm iStreet Network Ltd surged 190.69 per cent during the month. The stock skyrocketed from Rs 23.64 to Rs 68.72. The company, engaged in artificial intelligence, eCommerce, and IT product distribution, recently appointed Bhargeshwar Banerji, former Chief General Manager at the RBI, as an Additional Non-Executive Independent Director. On Tuesday, the stock was up 5 per cent at Rs 68.72.

Saffron Industries Ltd

Shares of Saffron Industries Ltd rallied 176.42 per cent in October, jumping from Rs 31 to Rs 85.69 on the BSE. The company manufactures writing paper and newsprint. The stock’s rally continued this week, trading 4.99 per cent higher at Rs 94.46 on Tuesday.

Chandni Machines Ltd

Engineering goods trader Chandni Machines Ltd gained 148.54 per cent in October, with its share price rising from Rs 33.15 to Rs 82.39. Responding to a BSE query on the stock’s sharp movement, the company clarified that the rise was “purely market-driven.” Managing Director Jayesh Ramniklal Mehta said the management had no control or knowledge of the reasons behind the volatility. On Tuesday, the stock was locked 4.99 per cent higher at Rs 90.82.

Genesis IBRC India Ltd

Biotechnology company Genesis IBRC India Ltd delivered 118.43 per cent gains, with its share price advancing from Rs 75.22 to Rs 164.30. The rally extended into November, with the stock trading 2 per cent higher at Rs 170.90 on Tuesday.

Mahip Industries Ltd

Mahip Industries Ltd, a leading manufacturer and trader of corrugated boxes, doubled investors’ money in October, soaring 100.74 per cent from Rs 5.39 to Rs 10.82. The stock remained locked in its upper circuit on Tuesday, up 9.96 per cent at Rs 10.82.