It has mostly been a one-way street for the markets thus far in the current week with the S&P BSE Sensex rallying nearly 3 per cent in the last three sessions. Gains in the mid-cap and the small-cap indices have been equally impressive with both these indices moving up 2.2 per cent and 2.4 per cent respectively during this period.
However, gains in some individual stocks have been sharper. A quick check on the stocks in the BSE 500 index suggests 18 stocks have given a double-digit return during this period. Manpasand Beverages is the top gainer that has zoomed nearly 28 per cent in the past three sessions, ACE Equity data show.
Most analysts remain bullish on the mid-cap segment and believe this segment represents India growth story more powerfully than their large-cap peers.
"We see great opportunities in select mid-cap pockets after the recent correction. I want to make a point here that notwithstanding the recent underperformance over five to 10 year scale, midcaps have reasonably outperformed their large-cap peers. This is understandable, as the ‘India growth story’ is much more compelling now than rest of the globe, and it is expected to remain that way in foreseeable future," said Saibal Ghosh, CIO at Ageon Life Insurance in a recent interview to Business Standard.
Adding: "The mid-cap story will play out again once the cost of funds at which these companies borrow to fund their business comes down from the current levels." READ THE FULL INTERVIEW HERE
Meanwhile, Astral Poly Technik, Bajaj Holdings, Bata India, CreditAccess Grameen, Divi’s Laboratories, Gujarat Flurochemicals, Havells India, Info Edge (India), Muthoot Finance, PI Industries and Vinati Organics from the Nifty 500 index also hit their respective new high on Tuesday.
Shares of Godfrey Phillips India surged 11 per cent to Rs 1,042, hitting a 52-week high of the BSE in intra-day trade on Monday after the company issued a clarification regarding alleged violation of the Foreign Direct Investment (FDI) laws of India. The cigarettes and tobacco products maker said the allegations were "completely misconceived and misplaced". READ MORE ABOUT THE COMPANY HERE
| TOP GAINERS ON BSE 500 | ||
|---|---|---|
| Company Name | Close Price (Rs) | Change (%) |
| Manpasand Beverages Ltd. | 127.50 | 27.50 |
| Himatsingka Seide Ltd. | 211.50 | 20.10 |
| Bombay Dyeing & Manufacturing Company Ltd. | 135.40 | 17.03 |
| CG Power & Industrial Solutions Ltd. | 41.90 | 15.75 |
| Adani Green Energy Ltd. | 39.85 | 13.69 |
| Godfrey Phillips India Ltd. | 1065.90 | 13.15 |
| Gujarat Gas Ltd. | 153.35 | 13.09 |
| Sadbhav Engineering Ltd. | 251.85 | 12.76 |
| Edelweiss Financial Services Ltd. | 182.50 | 12.34 |
| Orient Cement Ltd. | 89.40 | 12.24 |
| Can Fin Homes Ltd. | 321.80 | 11.89 |
| PNC Infratech Ltd. | 158.50 | 11.74 |
| Just Dial Ltd. | 621.15 | 11.47 |
| Westlife Development Ltd. | 409.30 | 10.88 |
| Sunteck Realty Ltd. | 448.00 | 10.70 |
| KEC International Ltd. | 294.50 | 10.67 |
| Trent Ltd. | 369.40 | 10.10 |
| 257.25 | 10.10 | |
| Close price as on March 13, 2019 | ||
| Data source: ACE Equity | ||