Home / Markets / Stock Markets /  Mid caps get their mojo back, top 10 mid cap stocks rise by 30%-75% in a month

After a prolonged period of under performance, mid cap stocks are back on track. Clearly there has been no stopping for the mid cap space in the last few weeks. BSE MidCap index has risen by over 9% in the last three weeks. The index has grown by 9.6% in the last one month, outshining the benchmark large cap index. BSE Sensex during the same period has grown by around 3% in the last one month. Top 10 mid cap stocks in the index have risen by between 30% and 77% in the last one month.

Top performer in the mid cap space is Varroc Engineering, a global automative component manufacturer and supplier which has grown by over 76% in the last one month. The stock has jumped by 169% in the last three months. It has a market cap of 4,747 crore.

KIOCL, a flagship company under the Ministry of Steel for mining of low grade iron ore grew by 52% in the last 30 days.

82 companies in BSE MidCap Index saw positive movement in their share price in the last one-month period. The index has a total of 101 securities.

Here is the list of top 10 mid cap performers in the last one month:

  • Varrocc Engineering 76.4%
  • KIOCL 52.2%
  • Emami 44.7%
  • DIVIS Laboratories 42.3%
  • Shriram City Union 41.4%
  • Adani Enterprises 39.5%
  • PNB Housing Finance 35.8%
  • Tata Consumer Products 33.2%
  • Hindustan Aeronautics 32.4%
  • Aditya Birla Fashion & Retail 30.5%

BSE MidCap Index has grown by 33% in the last three months and by 11% in the last one year but analysts recommend to stay cautious in the near term.

"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," says Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking.

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