Up to 90% gains since Diwali 2024: 2 stocks in BSE 500 index gave investors solid returns

While the benchmark indices have posted modest gains since Diwali 2024, with the Sensex rising 4 per cent and the BSE 500 index adding 1.53 per cent, a couple of stocks from the broader market have delivered stellar returns. Specifically, Laurus Labs Ltd and Manappuram Finance Ltd have significantly outperformed the market, rewarding shareholders with gains of up to 90 per cent during this period.

Leading the charge is Laurus Labs Ltd, which has seen its value skyrocket from Rs 485 to Rs 921 since the last Diwali, marking an impressive return of nearly 90 per cent. The positive momentum continued in the recent trading session, as the stock closed 2.36 per cent higher on Monday at Rs 921.

Earlier, Axis Securities had spotlighted Laurus Labs as one of its key ‘Diwali Mahurat Technical Picks’ for Samvat 2082. The brokerage has set a target price of Rs 1,115, suggesting a potential upside of 21 per cent from its current levels. Laurus Labs is engaged in the development, manufacturing, and services of pharmaceutical and chemical products, with operations spanning four key segments: Contract Development and Manufacturing (CDMO), Generics Finished Dosage Form (FDF), Generics Active Pharmaceutical Ingredients (APIs), and Biotechnology.

Following closely is Manappuram Finance Ltd, which has also generated substantial wealth for investors. The stock rallied from Rs 157 to Rs 287.75 since Diwali 2024, delivering a robust 83 per cent return. On Monday, the stock closed 1.28 per cent higher at Rs 287.75. The company currently commands a market capitalisation of Rs 49,701 crore.

Manappuram Finance operates as a Non-Banking Finance Company (NBFC). The company specializes in providing a wide range of fund-based and fee-based services, which prominently include loans against gold jewellery. Its portfolio also extends to loans against property, financing for commercial vehicles, loans to MSMEs, money exchange facilities, and other complementary lending activities.