Indian benchmark Sensex has risen 150% since March 2020 with 25 of its constituents turning into multibaggers. Tata Motors, Tata Steel, and Titan Company have outperformed the index, with Tata Motors seeing the best returns, multiplying its value more than 8 times. Mahindra & Mahindra and Maruti Suzuki India also turned multibaggers due to pent-up demand for four-wheelers and a shift towards premium categories. Banks like State Bank of India, Axis Bank, ICICI Bank, and IndusInd Bank have also outperformed, whereas the IT sector, except for HCL Technologies and Infosys, has seen multibagger returns. Bullish investors expect steady returns in 2023, particularly in domestic-oriented sectors.
