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These 33 mid, smallcap stocks turned the tide this year to rise up to 240%.

Date: 01-06-2022
Subject: These 33 mid, smallcap stocks turned the tide this year to rise up to 240%
New Delhi: The first five months of 2022 have not been spectacular for Dalal Street, particularly for second-rung stocks, which have faced the wrath of the investors.

BSE midcap and smallcap indices are down by 9 per cent and 12 per cent, respectively, in the year 2022 so far. On the contrary, the BSE Sensex has dropped little less than 6 per cent during the period.

Despite this underperformance, some of the stocks from the midcap and smallcap segment have turned the tide to deliver handsome returns to the investors.

According to data from Ace Equity, as many as 33 stocks have zoomed more than 50 per cent in 2022 so far. Among these, as many as five counters have delivered multibagger returns to the investors.

The underperformance of small and midcap counters can be attributed to the factors such as Russia Ukraine war, rising crude prices, inflation, and persistent selling by foreign investors.

Palka Arora Chopra, Senior Vice President at mastertrust, said that smallcap and midcap stocks lost significant values over the last few months and it is majorly due to the sharp volatility in the equity market.

Adding more to it, Sunil Damania, Chief Investment officer, MarketsMojo, said that post March 2020, the market has done exceptionally well and mid and small caps outperformed the larger peer.

"After a stupendous rise in the share price, some investors decide to book profits," he added. "We are currently seeing corrections in a big and sustainable rally. These stocks will bounce back in the last quarter of 2022."

The list of outperformers is topped by Adani Power, which has zoomed about 242 per cent between January 1 to May 30. The scrip rallied to Rs 340.75 on May 30 from its close at Rs 99.75 on December 31, 2021.

Chennai Petroleum Corporation is another counter which has surged 161 per cent to Rs 268.2 on May 30. The oil refining and marketing had settled at Rs 102.6 in the last session of 2021.

Sharda Cropchem (112 per cent up), BLS International Services (100 per cent up) and Gujarat Ambuja Exports (100 per cent up) are the other multibagger counters.

Source Name:-Economic Times

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