India’s equity markets have surged to record highs with the headline index Sensex making all-new lifetime highs on Friday after the benchmark broke its previous record high on Thursday earlier this week. While, on the other hand, the broader share index Nifty 50 has failed to break the record high set in January 2018, and is hovering at its highest in over 5-months. The picture of Indian stock markets seems to be different if stocks other than heavyweight components of Sensex and Nifty are seen.
The S&P BSE Sensex has advanced 2,484.8 points or 7.3% to 36,541.63 from a level of 34,056.83 while NSE Nifty has added 488.2 points or 4.64% to 11,018.9 from a level of 10,530.7 in CY 2018. While, on contrary, Nifty Midcap 100 has diminished 13.58%, Nifty Smallcap 100 has declined 20.75% and Nifty Next 50 has dropped 8.82%.
Despite a heavy plunge in the mid-cap benchmark index of NSE in CY 2018, as many as 10 mid-cap stocks have risen up to 75% in the corresponding period.
10 mid-cap stocks gain up to 75% in CY 2018
Shares of research and brokerage firm Indiabulls Ventures have emerged as the biggest gainers among all the components of BSE Midcap 150 index. The stock of Indiabulls Ventures has been witnessing a massive spike since the beginning of 2017. Indiabulls Ventures share price has zoomed 2201% to 478 from a share price level of Rs 20.66 as on 30 December 2016. In the CY 2018, shares of Indiabulls Ventures have appreciated by 77% to Rs 477.5 from a share price level of Rs 270.28 on BSE. With such stellar stock market returns, Indiabulls Ventures stock is the top gainer on Nifty Midcap 100 index too.
Other mid-cap stocks that gain up to 75% in CY 2018
Shares of MindTree rose 70% to Rs 1,065.75, L&T Infotech up 64%, Mphasis up 62%, Jubilant Foodworks up 49%, Hexaware Tech up 40%, Abbott India up 32%, Avenue Supermarts up 28%, Pfizer up 26% and L&T Technology Services up 24%.
Source: Financial Express