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Sensex ends flat but these 15 stocks rose 10-60% in a week
It has been a roller coaster ride for Indian markets thanks to trade wars woes, uncertainty OPEC meet and selling by foreign institutional investors which have pulled out over Rs 5,000 crore from Indian markets in the month of June
The S&P BSE Sensex which hit a low of 35,249 on June 19 managed to recoup losses and closed flat with gains of 0.19 percent for the week ended June 22. The Nifty50 ended flat but with a positive bias at 10,821.85 in the same period.
While the action was missing in benchmark indices selective stocks in the smallcap space were buzzing. As many as 15 stocks in the S&P BSE Smallcap index rose 10-63 percent in just one week.
Stocks which registered double-digit return include names like Tree House Education (up 63 percent), followed by Zen Technologies (up 27 percent), Vakrangee (27.4 percent), Alok Industries (up 26 percent), Jaiprakash Associates (up 19 percent), and Liberty Shoes (up 16 percent).
Tree House Education was in focus after the company's associate company JT infrastructure Pvt. Ltd. sold part of its fixed assets including a land and building situated at Kalyan district in Thane near Mumbai, the company said a filing.
In the S&P BSE 500 index, only 4 stocks registered double-digit returns which include stocks like Vakrangee (up 27 percent), followed by Jaiprakash Associates (up 19 percent), Abbott India (up 13.69 percent), and Adani Transmission (up 10 percent).
Most of the stocks which registered gains saw value buying at lower levels, but does that make them great investment bets also? Well, maybe not.
There might be momentum in these stocks for now but data also suggest that most of the stocks in the above list witnessed selling pressure in the last 2-3 months. Analysts advise investors to stick to quality or in other words stay with large caps.
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