After a protracted period of underperformance, mid-cap stocks are back on target. Clearly there has been no stopping for the mid-cap space within the previous couple of weeks. BSE MidCap index has risen by over 9% within the last three weeks. The index has grown by 9.6% within the last one month, outshining the benchmark corporation index. BSE Sensex during an equivalent period has grown by around 3% within the last one month. Top 10 mid-cap stocks within the index have risen by between 30% and 77% within the last month.
Top performer within the mid cap space is Varroc Engineering, a worldwide automative component manufacturer and supplier which has grown by over 76% within the last one month. The stock has jumped by 169% within the last three months. it’s a market cap of ₹4,747 crore.
KIOCL, a flagship company under the Ministry of Steel for mining of low grade ore grew by 52% within the last 30 days.
82 companies in BSE MidCap Index saw positive movement within the ir share price in the last one-month period. The index features a total of 101 securities.
Here is that the list of top 10 mid cap performers within the last one month:
- Varrocc Engineering 76.4%
- KIOCL 52.2%
- Emami 44.7%
- DIVIS Laboratories 42.3%
- Shriram City Union 41.4%
- Adani Enterprises 39.5%
- PNB Housing Finance 35.8%
- Tata Consumer Products 33.2%
- Hindustan Aeronautics 32.4%
- Aditya Birla Fashion & Retail 30.5%
- BSE MidCap Index has grown by 33% within the last three months and by 11% within the last one year but analysts recommend remaining cautious within the near term.
“There has been no stopping for the mid-cap space and particularly the way these stocks just took off within the last three weeks. When mid-cap rally starts, it generally creates a euphoric situation and this is often clear what we are experiencing for the past few days. Nobody knows when and where it’s getting to stop and at an equivalent time, it’s hard to not participate also. the general structure remains sturdy; but we believe that sooner or later, the market is probably going to witness some correction, which might be healthy within the longer run. within the last five months, forget bearish, we didn’t even sound cautious and used all dips to urge into the market. But now watching a couple of observations, we don’t want to take care of similar optimism purely with the short-term view,” says Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking