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Business News/ Markets / Stock Markets/  Despite volatility, 19 BSE Smallcap stocks surge 20% to 75% in just one month; Waaree leads gains – check full list

Despite volatility, 19 BSE Smallcap stocks surge 20% to 75% in just one month; Waaree leads gains – check full list

Waaree Renewable Technologies leads with a 75% gain due to strong order wins. Tata Investment Corporation follows with a 45% monthly gain, despite dampened investor enthusiasm.

Rico Auto Industries and Force Motors showed robust returns in last one month. (Pixabay)Premium
Rico Auto Industries and Force Motors showed robust returns in last one month. (Pixabay)

Despite the volatility surrounding mid-and small-cap stocks due to regulatory concerns, select small-cap stocks have demonstrated resilience, delivering stellar returns. Although a few of these stocks have seen minor corrections recently, they have not experienced the same level of downturn as the broader market.

The S&P BSE Smallcap index has declined by nearly 9% over the past eight trading sessions and by 6.45% in the span of a month. However, within this index, 19 stocks are currently trading with monthly gains of 20% to 75%. 

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Leading the pack is Waaree Renewable Technologies, with a stellar gain of 75%, reaching 1,407 apiece. This phenomenal performance can be attributed to the company's strong order wins. At the start of March, the company secured 1,401 crore worth of order from North Eastern Electric Power Corporation. 

This order is for the execution of engineering, procurement, and construction (EPC) work with the land development of an ISTS-connected ground-mounted solar PV project of 300 MW AC capacity on a turnkey basis, along with three years of operation and maintenance service. 

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In February, the company also bagged a significant order valued at 990.60 crore from one of India's leading renewable energy companies. 

The following company on the list was Tata Investment Corporation, a non-banking financial company (NBFC) backed by Tata Sons. The surge in the stock's value began amid speculation surrounding Tata Sons' potential IPO. 

However, following reports indicating that Tata Sons is unlikely to pursue an initial public offering in the near term, investor optimism has waned. This has led to a correction in the stock price in recent sessions. Despite this, the stock still holds a monthly gain of 45%, trading currently at 7,947 apiece. 

Continuing their streak of consistent performance over the past four calendar years, Rico Auto Industries' shares have once again demonstrated strength in CY24. So far this year, the stock has surged by 53%, with a significant portion of this increase occurring in the last month alone, accounting for 43%.

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During Thursday's trading session, the stock soared by over 19.5% to reach 132.4 per share. It achieved a new all-time high of 146.20 per share on March 11.

Similarly, Force Motors has also shown robust returns over the past two calendar years. In the current year, it has gained 81% to reach 6,108 per share, with 38.2% of this increase coming in the last month.

After concluding CY23 with an impressive 50% return, Jubilant Industries shares have outpaced the previous calendar year's performance, surging by 91% in CY24 thus far. Within the last month alone, they have seen a remarkable 32% increase.

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Additionally, several other stocks, including Astec Lifesciences, SMS Pharmaceuticals, Intellect Design Arena, Data Patterns (India), eMudhra, Marathon Nextgen Realty, Genesys International Corporation, SML Isuzu, Kalyani Steels, PC Jeweller, Godfrey Phillips India, Cigniti Technologies, Jai Balaji Industries, and Indo Count Industries, have delivered returns ranging from 20% to 31% over the past month.


Disclaimer: We advise investors to check with certified experts before making any investment decisions.

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Published: 15 Mar 2024, 12:27 PM IST
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