1. 22 stocks surge over 50% in midcap space; should you book profit?

22 stocks surge over 50% in midcap space; should you book profit?

Midcap stocks are on a high as 22 stocks in the midcap space surged over 50 per cent since the beginning of the ongoing financial year till August 25.

By: | New Delhi | Updated: August 26, 2016 12:46 PM
BSE Sensex NSE Nifty Midcap stocks are on a high as 22 stocks in the midcap space surged over 50 per cent since the beginning of the ongoing financial year till August 25. (Photo: Reuters)

Midcap stocks are on a high as 22 stocks have surged over 50 per cent since the beginning of the ongoing financial year till August 25. The list includes stocks such as Manappuram Finance which soared the most — 133.72 per cent, followed by Indian Bank (up 114.21 per cent), Edelweiss Financial Services (up 97.41 per cent), V-Guard (95 per cent) and Motilal Oswal Financial Services (up 88.74 per cent).

Other stocks such as Dalmia Bharat, Muthoot Finance, Birla Corporation, Biocon, JM Financial and Capital First also gained 88 per cent, 81 per cent, 76.49 per cent, 76.38 per cent, 73 per cent and 65.71 per cent, respectively. The BSE Midcap index jumped 21.95 percent, whereas BSE Sensex advanced 10.15 pe cent during the same period.

On the other hand, stocks such as Welspun India, Just Dial, Rajesh Exports, GE T&D and Hexaware Technolgies slipped 44.77 per cent, 36.21 per cent, 29.09 per cent, 26.46 per cent and 21.95 per cent in the ongoing financial year till August 25.

In the midcap banking space, Karnakaka Bank, Syndicate Bank, Corporation Bank and Bank of Maharashtra gained 45.32 per cent, 5.05 per cent, 4.38 per cent and 3.89 per cent between April 1 and August 25. State Bank of Mysore, The Federal Bank and DCB Bank rallied 43.63 per cent, 43.20 per cent and 42.94 per cent during the period.

On the further movement of NBFC stocks, G Chokkalingam, founder, Equinomics Research & Advisory said, “There are some valuation bubble in selected midcap space now and we can see some profit booking going forward.”

Cholamandalam Investment shares soared 51.88 per cent to Rs 1110 on August 25 from Rs 730.85 on April 1.

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