Mid-cap companies have outperformed the Sensex and small-cap firms in profit growth during the quarter.
The 172 mid-cap firms from the mid-cap index have posted 70 per cent growth in net profit compared with 34 per cent growth reported by 22 Sensex stocks and 53 per cent growth by the 272 small-cap companies.
The BSE Mid-cap index rose the highest, by over 1 per cent (63.56 points) to close at 6,206.70. India Infoline topped the list, appreciating by 30 per cent compared with 0.41 per cent (59.44 points) rise in the Sensex and 0.95 per cent (68.72 points) in the small-cap index.
India Infoline is among the top gainers from mid-cap index stocks, appreciating 30 per cent to close at Rs 580.65 against its Friday close of Rs 445.85 on BSE.
Nirma gained 20 per cent to close at Rs 198.30 (Rs 165.25), Gokaldas Exports 11 per cent to Rs 221.25 (Rs 199.35),United Breweries Holdings 10 per cent to Rs 726.35 (Rs 660.35) and iGate Global 9.45 per cent to Rs 352.20 (Rs 321.80)and Thermax 9.27 per cent to Rs 480.90 (Rs 440.10).
The mid-cap index has appreciated as much as 19 per cent (997 points) from a recent low of 5,209.29 it touched on April 2 current year. In comparison, the Sensex gained 15.60 per cent and the small-cap index 16.53 per cent.
As many as 114 mid-cap stocks have outperformed the mid-index from low levels, of which 15 stocks gained more than 50 per cent, 75 in the range of 25 per cent to 50 per cent and the remaining 24 between 20 per cent and 25 per cent.
United Breweries Holdings had more than doubled from Rs 348.05 on April, 2 to Rs 726.35 on Monday. Educomp Solutions appreciated 93 per cent to Rs 1,876 (Rs 971.65), Balaji Telefilms 84 per cent to Rs 224.70 (Rs 121.90) and Welspsun-Gujarat Stahl 72 per cent to Rs 172.10 (Rs 100.10).
