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Hidden Multibagger Stocks by Devendra (RA: INH000026488)
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Disclaimer: I am a SEBI Registered Research Analyst (RA: INH000026488). All stocks, market updates, and investment-related information shared in this channel are strictly for educational and informational purposes only.
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Two months ago, I clearly stated that until Q3 results are announced, investors should not expect any major movement in the market. For the past two months, the market has remained dull and range-bound, even though the indices are at ATH
Despite the indices hitting record highs, our market outlook remained bearish. Now, many investors have realized that our view was correct, while several technical chart experts predicted the start of a bull run as soon as the market touched all-time highs.
Throughout January 2026, I expect the market to remain largely boring and selective. The market will reward only those stocks that deliver outstanding Q3 results.
To navigate a bear phase, investors must adopt a different strategy. Traditional tools that are popular on social media do not work during bear markets.
I believe the ongoing commodity rally will end this month. Once that happens, money is likely to flow back into equities. Therefore, I expect a meaningful market move after the Q3 results and the Union Budget.
Q3 results on 8th Jan 26
Madhya Bharat Agro Products Ltd
Elecon Engineering Company Ltd
Transformers & Rectifiers India Ltd
Eimco Elecon (India) Ltd
NSE data shows that retail participants offloaded nearly ₹13,776 crore in October, ₹11,544 crore in November, and around ₹13,000 crore in December. This clearly indicates that retail investors have been continuous sellers from October to December 2025, which explains why small- and mid-cap stocks underperformed even though the benchmark indices were at all-time highs.
Retail selling has continued into January 2026 as well. Retail investors typically resort to panic selling when they do not receive returns for an extended period. Additionally, many retail investors were misled by so-called social media experts who claimed that the market was underperforming due to Trump-related factors. Throughout 2025, many retail investors kept investing at all-time high levels, without realizing that the market had already entered a bear phase and was likely to remain in that phase for an extended period.
Investors who entered the stock market believing that profits could be made easily during a bear phase are now getting frustrated. As a result, some retail investors have started shifting their money from equities to commodities. Whenever retail investors sell in panic, small- and mid-cap stocks tend to correct sharply, which we have clearly witnessed over the last three months.
On the other hand, FII selling has reduced over the last two trading sessions. I expect FIIs to return as buyers after the Q3 earnings season and the Union Budget next month.
We provide a 2–3 month market outlook. As stated clearly two months ago, investors should not expect any meaningful market move until Q3 results are announced—and exactly as expected, the market has remained range-bound over the last two months.
2026 will be a stock-picking market.
Today, there is strong selling pressure in small-cap and mid-cap stocks. Over the last two months, the market indices have been trading near all-time highs, yet most portfolios are underperforming. This underperformance is largely due to panic selling by retail investors.
Last month, I mentioned that retail panic selling could continue in January 2026 as well, as investors have reached an extreme level of frustration because of the prolonged bear phase. This frustration is now translating into continuous panic selling, which we are clearly witnessing in January 2026.Over the past 20 days, only the commodity sector has been outperforming, mainly due to DII buying. Meanwhile, slow and steady panic selling by retail investors continues across the broader market.This is why it is extremely important to identify when a bear phase is approaching—only then can capital be protected effectively.Meaningful market movement is more likely only next month, after the Q3 results and the Union Budget outcome.
"Krishna Defence" is likely to benefit from the government’s ₹2.35 lakh crore capital expenditure in the maritime sector. India’s shipbuilding and maritime capex cycle is entering a strong growth phase, supported by favorable government policies and a robust execution pipeline. This aligns with the government’s vision to position India among the top five shipbuilding nations and to develop the country as a global ship-repair hub over the next decade. Investors must understand how to identify stocks based on key news and, more importantly, how to link that news to companies that are direct beneficiaries of government capital expenditure.👆👆
Indian Navy's 200-ship goal: 3 "hidden gems" riding the Rs 2.35 lakh crore capex wave - Stock Insights News | The Financial Express https://share.google/gPi1lokTxtIV9zRPd
The metal sector continues to be the only segment consistently outperforming in the current market. This outperformance is driven by a sharp rise in commodity prices over the last 20 days. The ongoing rally in metal stocks has been largely unexpected and is the kind of move we have not seen for many years.
However, it is important to remember that metal stocks are cyclical in nature and are highly dependent on global supply–demand dynamics. As a result, it is difficult to predict how long this rally will continue. History shows that once the metal cycle peaks, the sector can underperform for several years.
Despite the broader bear phase in the market, the following metal stocks are showing strong relative performance:
👉Hindustan Copper
👉National Aluminium (NALCO)
👉Hindalco
👉HEG
👉Graphite India
👉Ashapura Minechem
👉GMDC
👉Hindustan Zinc
👉Midwest
Investors should remain cautious, track commodity price trends closely, and manage risk appropriately while participating in this rally.
"MCX India " after stock split 5:1.. it is one of the biggest beneficiaries of the strong commodity rally . MCX INDIA is continue to outperform.🚀🚀
As I have been saying for the last two months, do not expect any major move in the market before the Q3 results. An index at an all-time high does not guarantee returns. Over the past two months, even though the index has remained near its all-time high, many investors’ portfolios have continued to decline.
This is why a different approach is required to understand the market. Traditional tools that are popular on social media often become ineffective during a bear phase. I expect meaningful market movement next month, after the Q3 results and the Union Budget.
Many retail investors have reached extreme levels of frustration due to the prolonged bear phase and the lack of returns during this period. A bear phase causes maximum pain until it finally ends. Handling a bear market requires a clear understanding of both bull and bear cycles.
Throughout this bear phase, patience and the adoption of a different strategy are essential to survive and prepare for the next bull run.
"Concord Control" a railway sector stock involved in the Kavach-4 is heading toward delivering multibagger return.. 🚀🚀
" Axiscades Technologies " Multibagger stock strong recovery continue ...🚀
"Belrise Industries" an auto ancillary stock, strong momentum continue..🚀🚀
From 141 Rs to 188 Rs in bear market..
FII selling has continued after the Christmas holidays; however, the intensity of selling has reduced. I expect FIIs to gradually turn buyers after the Q3 earnings season and the Union Budget. Q3 results will play a crucial role in determining the near-term direction of the market.
The metal sector continues to outperform. If metal prices rise further, it will negatively impact industries that use metals as a key raw material. Similarly, as mentioned earlier, India has reached a stage of overproduction in the solar sector, which indicates potential underperformance in this space going forward.
This highlights the importance of understanding how to connect news developments with the potential outperformance or underperformance of various sectors. I shared posts on emerging themes such as the gold lending sector, the railway Kavach system, and the auto ancillary sector. These themes are working because they are backed by strong business fundamentals and supportive government policies.
In the stock market, tracking news is important, but the ability to interpret that news and link it to sectoral performance is even more important.
Only on our channel will you find clear explanations behind a stock’s outperformance or underperformance. We explain why certain stocks are rising and why others are declining. Without understanding the reasons behind price movements, investors are likely to make incorrect decisions.
Before buying any stock, you should clearly know why you are buying it. This clarity builds conviction. Without conviction, even a minor correction can lead to panic.
Investors who do not study businesses, lack sectoral understanding, are unaware of market cycles, and rely on technical charts tend to panic with every price fluctuation.
"CSB Bank" is up 17%. It was shared yesterday as part of a new investment theme—gold lending for 2026. We always provide clear and logical reasons for why a stock is moving. We do not blindly select stocks based only on technical charts without understanding the underlying business.🚀
" Axiscades Technologies " Multibagger stock strong recovery...🚀
Today, the market is under strong selling pressure. It appears that FIIs have resumed selling after returning from the Christmas vacation. Today’s FII data is important to understand their stance for the month of January 2026.
As I have mentioned earlier, the market is expected to remain highly volatile until the Q3 results are announced. The Q3 earnings season will begin from 12th January onwards.
A clearer picture regarding corporate earnings will emerge in February 2026, along with better clarity on the Union Budget outcome. Therefore, January 2026 is expected to be a highly volatile month.
This week’s FII data will be crucial in understanding the overall FII outlook for the Indian market throughout January 2026.
The Government of India is significantly increasing spending on railway safety and protection systems, with an allocation of approximately ₹1.3 lakh crore, especially toward the Kavach (Automatic Train Protection) system. As this project gains momentum, companies directly involved in the Kavach ecosystem are expected to benefit over the medium to long term.
Below are three key stocks involved in the Railway Kavach system that are likely to gain from the government’s increased focus on railway protection:
👉1. Concord Control Systems:
Concord Control Systems is actively involved in railway safety and signaling solutions. The company’s participation in the Kavach project positions it well to benefit from rising government expenditure on advanced train protection technologies.
👉2. Kernex Microsystems:
Kernex Microsystems is one of the early and established players in the railway safety domain. It has been closely associated with the development and implementation of the Kavach system, making it a direct beneficiary of large-scale deployment across Indian Railways.
👉3. HBL Engineering:
HBL Engineering plays a crucial role in supplying critical components and systems used in railway safety and signaling projects, including Kavach. With Indian Railways accelerating safety upgrades, HBL Engineering is likely to see sustained order inflows.
