Since the beginning of 2018, domestic markets are perpetually making and breaking record highs. Amid the continuous rise in stock markets, we take a look at two mid-cap stocks which have more than tripled investors money in just one year.
Indian equities are on a rising trend for the one year with the headline indices Sensex and Nifty returning about 30% with blue-chip stocks such as Tata Steel, Maruti Suzuki, Reliance Industries, Bharti Airtel, Vedanta, Indiabulls Housing Finance rising up to 90%. Earlier this week, the benchmark indices Sensex and Nifty surpassed the new psychological levels of 36,000 and 11,000 with Sensex surpassing 36,000 from 34,000 in just 21 sessions. Since the beginning of this year, domestic markets are perpetually making and breaking record highs.
The broader share index Nifty 50 also breached the psychological level of 11,000 on Tuesday. Investors are betting on the back of Q3 earnings optimism and IMF forecasting that India could grow at 7.4% in 2018, as against China’s 6.8% making it the fastest growing country among emerging economies following last year’s slowdown due to demonetisation and the implementation of the GST. Amid the continuous rise in stock markets, we take a look at two mid-cap stocks which have more than tripled investors money in just one year.
Shares of Jindal Steel & Power and Vakrangee have surged more than 3 times returning up to 240% in the last 12-month period. The stock of Jindal Steel & Power had risen 240% to Rs 280.2 from a price level of Rs 82.2 a year earlier while the shares of Vakrangee have returned 233% to Rs 505 from a price level of Rs 151.28. Earlier on Tuesday this week, India’s stock market made new all-time highs on Tuesday with benchmark indices Sensex and Nifty crossing the respective psychological levels of 36,000 and 11,000 for the first time in the history of Indian capital markets.
Meanwhile, Indian stock markets closed lower after falling heavily in the afternoon trades on Thursday with Sensex and Nifty finishing the week above their respective psychological levels of 36,000 and 11,000 achieved this week. In the intraday trading, the benchmark Sensex tumbled 338.29 points or 0.93% to hit a day’s low of 35,823.35 while the broader Nifty index washed off as much as 76.8 points to hit the day’s low of 11,009.2. During the week, Sensex had gained 538.86 points whereas Nifty had advanced 174.95 points. BSE Sensex ended 111.2 points or 0.31% at 36,050.44 while NSE Nifty lost 16.35 points or 0.15% to conclude at 11,069.65 on Thursday.