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Mid Cap Stocks Stage A Comeback; Jump By More Than 75% In 1 Month

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A Morgan Stanley report released earlier this week proclaimed that small and mid-cap stocks will likely see an upsurge in the near term. And on similar lines after a prolonged gloomy period, there is seen a comeback in these stocks. And if we talk in particular about the mid-cap space, it has gained by more than 9% in the last 3 weeks time and in a month by 9.6%, in comparison Sensex has gained just 3%.

 
Mid Cap Stocks Stage A Comeback; Jump By More Than 75% In 1 Month

Here is a table listing 10 top mid-cap stocks which rose in price in the range of 30-77% in the last 1 month:

Top Mid-Cap Stock Returns in last one month

Top Mid-Cap StockReturns in last one month
Varrocc Engineering77%
KIOCL52%
Emami44.7%
Divis Lab42%
Shriram City Union41%
Adani Enterprises39.5%
PNB Housing Finance35.8%
Tata Consumer Products33.2%
Hindustan Aeronautics32.4%
Aditya Birla Fashion & Retail30.5%

Nonetheless, analysts suggest staying cautious on the segment in the near term, Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking said, "There has been no stopping for the mid cap space and especially the way these stocks just took off in the last three weeks. When mid cap rally starts, it generally creates a euphoric situation and this is clearly what we are experiencing for the past few days. Nobody knows when and where it's going to stop and at the same time, it's hard not to participate also. The overall structure remains sturdy; but we believe that sooner or later, the market is likely to witness some correction, which would be healthy in the longer run. In the last five months, forget bearish, we did not even sound cautious and used all dips to get into the market. But now looking at a few observations, we do not want to maintain similar optimism purely with the short-term view".

GoodReturns.in

Read more about: mid cap stocks morgan stanley
Story first published: Saturday, August 22, 2020, 16:51 [IST]
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