Broader market winners! How investors found 15 multibaggers in a muted Nifty year?

Fifteen small and mid-cap stocks, including Aeroflex Industries, Avalon Technologies, Bajaj Consumer Care, GE Power India, HFCL, Kirloskar Oil Engines, MTAR Technologies, Sterlite Technologies and Schneider Electric Infrastructure, turned multibaggers in a year when benchmark Nifty moved largely sideways. According to Abakkus Flexi Cap Fund's Sanjay Doshi, strong Q4 FY26 corporate earnings in the small and mid-cap space drove the outperformance, though the full impact of the West Asia crisis on margins is expected to surface in the June quarter. Analysts flagged risks from higher crude prices, currency depreciation, weak monsoon, and potential earnings downgrades, while expecting sequential improvement from Q2 FY27 onwards.