Multibagger Stocks of FY26: Rs 1 Lakh in These 5 Stocks Rose up to Rs 2.47 Lakh

FY26 was a difficult year for Indian equity markets. Foreign investors sold heavily, the rupee fell to record lows, crude oil prices rose due to tensions in West Asia, and concerns around US tariffs weighed on sentiment through much of the year. Despite this, five stocks from the Nifty 500 index delivered returns of over 100 per cent, turning Rs 1 lakh into more than Rs 2 lakh each.

The Five Stocks
Atherenergy was at the top with a return of 147 per cent in FY26, making it the best-performing stock among the five. GVT&D came in second with a gain of 135 per cent. National Aluminium Company (NALCO) followed with a return of 120 per cent. Force Motors delivered 114 per cent, and Gujarat Mineral Development Corporation (GMDC) rounded off the list with a return of 113 per cent. An investor who had invested Rs 1 lakh into each of these five stocks at the start of FY26 would have seen the combined investment of Rs 5 lakh grow to approximately Rs 11.30 lakh by March 2026


Why FY26 Was a Difficult Year

Foreign Institutional Investors (FIIs) were net sellers throughout 2025-2026. A stronger US dollar and relatively higher interest rates in developed markets made emerging markets like India less attractive. FIIs pulled out around Rs 3,30,669 crore from Indian equities, putting pressure on benchmark indices throughout the year.
The rupee weakened against the US dollar through much of FY26, touching record lows of Rs 95.22 during the year. A weaker rupee increases the cost of imports, adds to inflation, and puts pressure on corporate margins.
Crude oil prices rose due to conflict in West Asia, with Brent crude touching a high of $119.50. Since India meets a large part of its energy needs through imports, higher crude prices widened the current account deficit and added further pressure on the currency.
US tariff announcements through FY26 added uncertainty for Indian exporters and companies with revenue exposure to the US market.

What Drove Each Stock

Atherenergy, which makes electric two-wheelers, saw demand for its products grow through FY26. Government support for EV adoption and improving delivery volumes kept investor interest in the stock through the year.
GVT&D operates in the power transmission and distribution equipment space. Orders from state electricity utilities and central sector infrastructure projects supported the company's business through FY26, in line with the government's focus on upgrading India's power grid.
National Aluminium benefited from higher global aluminium prices. In the latter part of FY26, conflict in West Asia disrupted supply from Gulf SMElters, pushing prices on the London Metal Exchange higher. NALCO, being an integrated producer, saw improved revenue realisations as a result.
Force Motors manufactures commercial and utility vehicles and also supplies engines and axles to global automobile manufacturers, including Mercedes-Benz and BMW. Demand in the commercial vehicle segment and growth in its Defence business supported the stock through the year.
GMDC is a Gujarat government-owned company with mining operations in lignite, manganese, and bauxite. Higher commodity prices and demand from the power and industrial sectors in western India contributed to the stock's performance in FY26.

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Disclaimer: This article is for informational purposes only and does not constitute investment advice