 "BSE Midcap index ends at fresh lifetime high")
Shares of midcap companies are on a roll with the S&P BSE Midcap index closing at a fresh lifetime high on the Bombay Stock Exchange (BSE) on Friday.
Bajaj Finance, Bajaj Finserv, Hindustan Petroleum Corporation (HPCL), JSW Steel, Kansai Nerolac, Mahindra & Mahindra Financial Services, Petronet LNG and YES Bank from the BSE midcap index hit their respective record highs.
S&P BSE Midcap index, the largest gainer among broader indices, was up 1.2% at 11,858 compared to 0.54% rise in the benchmark S&P BSE Sensex, which closed at 27,145. The Midcap index surpassed its previous high of 11,586 in August 2015.
Post Budget, the S&P Midcap index has rallied 24% against 18% rise in the S&P BSE Sensex on the back of strong investment by the foreign investors.
Foreign institutional investors (FIIs) have pumped in net amount of Rs 37,520 crore ($ 5.6 billion) in Indian equities since March.
Financial stocks such as YES Bank, Indian Bank, Mahindra & Mahindra Financial Services, Allahabad Bank, L&T Finance Holdings and Shriram Transport Finance from the midcap index have rallied more than 50% each post Budget.
Analysts at Prabhudas Lilladher expects the retail credit growth to remain strong, the corporate credit growth will be more aided by improvement in economy as well as inflationary pressures.
“We expect systemic credit growth to improve to around 11?12% over FY17 from around sub 9% currently, but we see our expectations at risk if the economic pickup is subdued or the inflation levels remain low. On the other hand, good monsoon & 7th CPC will boost consumption and help retain strong growth in Agri & Retail,” the brokerage firm said in a recent report
Among the other individual stocks, Piramal Enterprises, Biocon, HPCL, UPL, Tata Communications, Bajaj Finserv, Oriental Bank of Commerce, Page Industries and Tata Chemicals are among those gaining between 40%-60% during the period.
"Buoyed by data showing a further improvement in India's manufacturing sector last month and strong inflow of funds from foreign portfolio investors into the domestic markets during the previous trading session, markets traded at a 2016 high", said Shreyash Devalkar, Fund Manager – Equities, BNP Paribas Mutual Fund.
Bajaj Finance, Bajaj Finserv, Hindustan Petroleum Corporation (HPCL), JSW Steel, Kansai Nerolac, Mahindra & Mahindra Financial Services, Petronet LNG and YES Bank from the BSE midcap index hit their respective record highs.
S&P BSE Midcap index, the largest gainer among broader indices, was up 1.2% at 11,858 compared to 0.54% rise in the benchmark S&P BSE Sensex, which closed at 27,145. The Midcap index surpassed its previous high of 11,586 in August 2015.
Post Budget, the S&P Midcap index has rallied 24% against 18% rise in the S&P BSE Sensex on the back of strong investment by the foreign investors.
Foreign institutional investors (FIIs) have pumped in net amount of Rs 37,520 crore ($ 5.6 billion) in Indian equities since March.
Financial stocks such as YES Bank, Indian Bank, Mahindra & Mahindra Financial Services, Allahabad Bank, L&T Finance Holdings and Shriram Transport Finance from the midcap index have rallied more than 50% each post Budget.
Analysts at Prabhudas Lilladher expects the retail credit growth to remain strong, the corporate credit growth will be more aided by improvement in economy as well as inflationary pressures.
“We expect systemic credit growth to improve to around 11?12% over FY17 from around sub 9% currently, but we see our expectations at risk if the economic pickup is subdued or the inflation levels remain low. On the other hand, good monsoon & 7th CPC will boost consumption and help retain strong growth in Agri & Retail,” the brokerage firm said in a recent report
Among the other individual stocks, Piramal Enterprises, Biocon, HPCL, UPL, Tata Communications, Bajaj Finserv, Oriental Bank of Commerce, Page Industries and Tata Chemicals are among those gaining between 40%-60% during the period.
"Buoyed by data showing a further improvement in India's manufacturing sector last month and strong inflow of funds from foreign portfolio investors into the domestic markets during the previous trading session, markets traded at a 2016 high", said Shreyash Devalkar, Fund Manager – Equities, BNP Paribas Mutual Fund.
| Name | 29/02/2016 | 01/07/2016 | % chg |
| INDIAN BANK | 76.75 | 141.50 | 84.36 |
| M&M FINANCIAL SERVICES | 205.25 | 354.60 | 72.76 |
| YES BANK | 688.35 | 1128.00 | 63.87 |
| PIRAMAL ENTERPRISES | 909.25 | 1460.00 | 60.57 |
| ALLAHABAD BANK | 43.35 | 69.30 | 59.86 |
| BIOCON | 468.95 | 739.50 | 57.69 |
| L&T FINANCE HOLDINGS | 50.95 | 80.10 | 57.21 |
| SHRIRAM TRANSPORT FIN | 804.20 | 1224.90 | 52.31 |
| HINDUSTAN PETROLEUM CORP | 688.15 | 1018.00 | 47.93 |
| UPL | 381.65 | 561.00 | 46.99 |
| TATA COMMUNICATIONS | 329.95 | 480.90 | 45.75 |
| BAJAJ FINSERV | 1610.45 | 2345.00 | 45.61 |
| ORIENTAL BANK OF COMMERCE | 76.65 | 110.75 | 44.49 |
| PAGE INDUSTRIES | 9892.45 | 14070.85 | 42.24 |
| TATA CHEMICALS | 316.70 | 445.30 | 40.61 |
| CANARA BANK | 158.55 | 218.25 | 37.65 |
| BAJAJ FINANCE | 5927.45 | 8131.00 | 37.18 |
| EXIDE INDUSTRIES | 128.00 | 175.10 | 36.80 |
| GODREJ INDUSTRIES | 291.95 | 398.05 | 36.34 |
| MPHASIS | 419.75 | 569.10 | 35.58 |
| HAVELLS INDIA | 272.20 | 367.00 | 34.83 |
| JSW ENERGY | 61.75 | 83.25 | 34.82 |
| RELIANCE INFRASTRUCTURE | 409.55 | 543.00 | 32.58 |
| JINDAL STEEL & POWER | 53.35 | 70.45 | 32.05 |
| INDIAN HOTELS CO | 98.15 | 128.35 | 30.77 |
| JSW STEEL | 1125.15 | 1464.50 | 30.16 |
| NATIONAL ALUMINIUM CO | 32.80 | 42.50 | 29.57 |
| TATA GLOBAL BEVERAGES | 103.65 | 134.20 | 29.47 |
| 3M INDIA | 10376.60 | 13350.00 | 28.65 |
| TITAN CO | 316.35 | 404.30 | 27.80 |
| PETRONET LNG | 234.45 | 297.60 | 26.94 |
| BANK OF INDIA | 82.95 | 104.20 | 25.62 |
| CONTAINER CORP OF INDIA | 1158.95 | 1454.00 | 25.46 |
| BAJAJ HOLDINGS | 1349.90 | 1671.15 | 23.80 |
| RELIANCE CAPITAL | 321.50 | 398.00 | 23.79 |
| BHARAT ELECTRONICS | 1029.10 | 1270.45 | 23.45 |
| UNION BANK OF INDIA | 107.00 | 131.90 | 23.27 |
| PIDILITE INDUSTRIES | 586.20 | 721.55 | 23.09 |
| BERGER PAINTS INDIA | 224.55 | 276.10 | 22.96 |
| WOCKHARDT | 761.05 | 934.90 | 22.84 |
| ZEE ENTERTAINMENT | 372.70 | 452.65 | 21.45 |
| IDBI BANK | 58.45 | 70.70 | 20.96 |
| OBEROI REALTY | 230.85 | 279.20 | 20.94 |
| GMR INFRASTRUCTURE | 10.93 | 13.17 | 20.49 |
| JAIPRAKASH ASSOCIATES | 7.08 | 8.53 | 20.48 |
| ABB INDIA | 1015.30 | 1216.35 | 19.80 |
| DIVI'S LABORATORIES | 950.60 | 1138.00 | 19.71 |
| MANGALORE REFINERY & PETRO | 57.40 | 67.70 | 17.94 |
| EMAMI | 983.55 | 1160.00 | 17.94 |
| INDIABULLS HOUSING FINANCE | 575.05 | 678.00 | 17.90 |
| LIC HOUSING FINANCE | 421.85 | 497.25 | 17.87 |
| SHRIRAM CITY UNION FINANCE | 1469.75 | 1714.00 | 16.62 |
| RELIANCE POWER | 44.45 | 51.60 | 16.09 |
| SUN TV NETWORK | 320.65 | 371.90 | 15.98 |
| KANSAI NEROLAC PAINTS | 268.20 | 308.70 | 15.10 |
| ASHOK LEYLAND | 87.60 | 99.60 | 13.70 |
| MARICO | 236.85 | 267.95 | 13.13 |
| CRISIL | 1794.60 | 2030.00 | 13.12 |
| NEYVELI LIGNITE CORPORATION | 64.65 | 72.10 | 11.52 |
| COLGATE PALMOLIVE (INDIA) | 821.95 | 914.70 | 11.28 |
| BLUE DART EXPRESS | 5383.95 | 5959.45 | 10.69 |
| TORRENT PHARMACEUTICALS | 1261.05 | 1386.05 | 9.91 |
| GLAXOSMITHKLINE PHARMA | 3156.00 | 3456.00 | 9.51 |
| ADANI POWER | 27.50 | 30.10 | 9.45 |
| GLAXOSMITHKLINE CONSUMER | 5579.35 | 6055.00 | 8.53 |
| GLENMARK PHARMACEUTICALS | 736.25 | 798.50 | 8.46 |
| CASTROL INDIA | 367.25 | 396.50 | 7.96 |
| PROCTER & GAMBLE HYGIENE | 5786.60 | 6229.00 | 7.65 |
| ORACLE FINANCIAL SERVICES | 3221.60 | 3435.05 | 6.63 |
| CADILA HEALTHCARE | 314.80 | 328.30 | 4.29 |
| MRF | 32429.35 | 33552.75 | 3.46 |
| CUMMINS INDIA | 809.50 | 837.00 | 3.40 |
| BHARAT FORGE | 746.40 | 770.00 | 3.16 |
| BRITANNIA INDUSTRIES | 2758.50 | 2812.00 | 1.94 |
| AMARA RAJA BATTERIES | 852.25 | 863.00 | 1.26 |
| SJVN | 28.45 | 28.80 | 1.23 |
| ALSTOM T&D INDIA | 358.25 | 360.00 | 0.49 |
| RELIANCE COMMUNICATIONS | 51.70 | 50.90 | -1.55 |
| VIDEOCON INDUSTRIES | 108.00 | 104.20 | -3.52 |
| UNITED BREWERIES | 805.75 | 756.50 | -6.11 |
| APOLLO HOSPITALS ENTERPRISE | 1467.80 | 1335.70 | -9.00 |
| TORRENT POWER | 226.75 | 176.25 | -22.27 |