BSE Mid Cap and Small Cap indices hit record highs, surging by 32.27% and 37.70% respectively this year. Defence, railway-related, and renewable energy stocks have seen significant gains. View More

The ongoing surge in mid and small-cap stocks appears to retain investor's attention, even as these stocks reach record levels. This year, the Mid and small-cap stocks have outperformed the large-cap counters by a wide margin. The Indian domestic benchmark indices Nifty 50 and S&P BSE Sensex have gained 9% and 8%, respectively, this year so far, while the BSE Mid-Cap index and BSE Small-Cap index have surged by 32.27% and 37.70%, respectively, during the same period. In today's trading session, the BSE Mid cap and BSE Small Cap indices have registered a new record high of 33,526 points and 39,855 points, respectively, and this month so far, they both have surged by nearly 8% each. if (adFreesubs || adLite) { getGooglePubAds("subs-adfree"); } Also Read: Are small-cap stocks in a bubble? Experts tell you how to trade in smaller companiesMid and small-cap stocks are seen benefiting more from the ongoing recovery in India’s capital expenditure. Defence stocks in particular have witnessed a remarkable surge in their stock prices, propelled by robust order wins, increased budget allocations, and the government's focus on curbing defence imports and encouraging domestic procurement. Railway-related stocks have also been on an upward trajectory, primarily fueled by strong order wins, driven by the ongoing modernization of the railway sector. In addition, renewable energy stocks have also experienced a substantial surge, fueled by India's ambitious energy transition goals, aiming for 500 GW of non-fossil-based electricity capacity by 2030. Also Read: Smallcap, midcap indices up over 30% so far in 2023, nearly 100 stocks in green; What's fueling the rally?Skyrocketing returnsAmong individual stocks in the BSE Mid-cap Index, REC, Power Finance Corporation, IRFC, and UCO Bank shares have delivered returns between 150 and 250% over the last one-year period. Notably, IRFC achieved a market capitalization of over ₹1 lakh crore on September 11 as its stock price reached an all-time high of ₹92.35 per share. Shares of PB Fintech, the parent company of PolicyBazaar and PaisaBazaar, bounced back strongly this year after a poor show in 2022, where the stock lost 52.83%. In the current year so far, the stock spiked from ₹451 apiece to ₹825 apiece, translating into a gain of 83%. Also Read: Retail investors prefer options trading over multibagger stocks in last 13 years: Here's what trends indicateOther notable performers include UCO Bank, Aurobindo Pharma, SJVN, Polycab India, Bharat Heavy Electricals, Indian Overseas Bank, Linde India, Solar Industries India, General Insurance Corporation, Trent, Supreme Industries, Glenmark Pharmaceuticals, Vodafone Idea, L&T Finance Holdings, Macrotech Developers, Persistent Systems, Torrent Power, Lupin, Godrej Industries, The New India Assurance Company, and Nippon Life India Asset Management, which have all yielded returns between 60 and 115% over the last one-year period. Impressively, 175 BSE small-cap stocks have delivered returns of over 100% in the last one-year period, with Jai Balaji Industries standing at the top of this line-up, delivering a return of 1350%. Jai Balaji Industries primarily operates in the steel sector. The company is engaged in the production of a wide range of steel products, including pig iron, sponge iron, ferro alloys, steel billets, and TMT bars (Thermo Mechanically Treated bars). Over the last four months, starting from July to October, the stock finished each month delivering fabulous returns of 106.51%, 72.25%, 61.38%, and 25%, respectively. Also Read: Midcaps, smallcaps too hot; investors should have a large-cap tilt right now, says Varun Fatehpuria of Daulat FinvestMeanwhile, some analysts are suggesting that the small-cap space is at risk of a correction after the steep rise over the last few months. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.   Milestone Alert!Livemint tops charts as the fastest growing news website in the world ???? 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Download The Mint News App to get Daily Market Updates. More Less Updated: 20 Nov 2023, 11:40 AM IST Topics Indian stock market




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