Diwali 2023- IRFC, PFC, Jindal Saw, UCO Bank among top mid, smallcap gainers during last year

The investor’s confidence remained very strong on mid and small caps and the returns given by mid and small Indices have beaten Sensex and Nifty returns. The Sensex and Nifty are up by around 11% during the last year. Comparatively BSE mid cap index is up almost 28% and small cap index is up 32 %

Also Read-Diwali 2023: What is ‘samvat’ and why does it hold significance for investors?

The government focus on infrastructure and make in India initiative both have been one key reason for the significant rise in share price of many of these companies said analysts Besides Public Sector companies have seen improved investor confidence. Also strong power demand has lifted towards many of these companies. 

Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher Pvt. Ltd has given target price of 90 for IRFC stock trading close to 75 levels. For SJVN Ltd the correction in stock prices also has been propelled led by Governments offer for sale. However earnings prospects still remain strong for the company in Hydropower generation and transmission. SJVN is diversifying and expanding its renewal power portfolio adding new capacities regularly. Meanwhile Banks have continued seeing improved earnings outlook led by rising credit growth, reducing NPA (Non-performing assets) and rising net interest margins. This has driven sentiments towards Banks including UCO Bank.

Also Read- Down 4%, Nifty Midcap 150 declines more than Nifty 50 in October on global headwinds

The five top Small cap gainers include Jai Balaji Industries, Lloyds Enterprise, Jindal Saw, Magellanic Cloud and Titagarh Rail Systems ltd .

Jai Balaji Industries has given maximum returns in the small cap space. Jai balaji Group is a steel manufacturer with Captive Power Generation and plants in nine locations. Jindal saw is another company involved in steel related business

Titagarh Rail having business interest with railway remain good beneficiary of ongoing expansion in railway infrastructure

Milestone Alert!Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.


Updated: 12 Nov 2023, 07:13 AM IST

Denial of responsibility! yesspdf.com is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – at loginhelponline@gmail.com The content will be deleted within 24 hours.

Read original article here

Leave A Reply