1 week ago
SUMMARY
From Amber Enterprises to Angel One, these stocks have still held on to substantial gains despite the Nifty Smallcap index correcting 10% from its record high.
By Hormaz Fatakia November 13, 2024, 11:25:24 AM IST (Published)
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The Nifty Smallcap Index has nearly corrected 10% from its record high levels, which it had hit on September 6 this year. 20 stocks on the index have seen a correction of 20% or more since September 6, while exactly half the index, or 50 stocks are down in double digits.
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While most of the index has been in correction mode over the last two months, some stocks have held on to gains, with some of them have even seen gains of over 10%. Here is a look at these stocks.
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Shares of Amber Enterprises are the top gainers on the Smallcap index since September 6, with gains of over 35%. For the September quarter, the company's revenue went up by 82% from last year, while the company returned to profitability, compared to a loss last year.
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State-run NALCO is the second best performer on the Smallcap index from the time the index had made a top, with gains of over 28%. NALCO's revenue for the September quarter fell by 10%, but its Earnings Before Interest, Tax, Depreciation and Amortisation increased by 57% on a year-on-year basis. The EBITDA margin for the quarter also expanded to 32.7% from 18.7% last year.
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The third-best performer on the Smallcap index since Sepetmber 6 is Kayens Tech, which has gained over 18% in the last two months. During the September quarter, Kaynes' revenue went up by 58% from the same quarter last year, while EBITDA is up 69% from the same quarter last year.
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Piramal Pharma has also been a recent outperformer, particularly after its September quarter results and management commentary on the road ahead. The company reported a 15% revenue growth and 11% EBITDA growth on a year-on-year basis during the quarter. The stock has also gained 14% during the last two months.
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Another stock with double-digit gains during this period is MCX which has gained 13% over the last two months.
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Some of the other stocks that have seen double-digit gains during this period include names like Radico Khaitan (up 12%), FirstSource Solutions (up 12%), Aditya Birla Real Estate (up 11%) and Angel One (up 10.5%).
