India News
Search Web Directory
News Home
Nifty midcap continues to rise for 12th session in a row, gains 7.3%
Posted on 7th August 2018
The Nifty indices for small- and mid-cap stocks clocked gains for a 12th consecutive day on Monday and yielded returns of 8.9% and 7.3%, respectively during the period as investors lapped up beaten-down stocks from the two categories.

The 12-day rally has also helped both indices to pare their year-to-date (YTD) losses to 16.5% and 9.2%, respectively. From the beginning of 2018 to mid July, the two gauges fell by as much as 23.3% and 16%, respectively.

The Nifty small-cap index ended the session at 7,597.35, up 0.21%, while the mid-cap gauge closed at 19,199.20, up 0.45%.

Sentiment also got a boost after better-than-expected earnings posted by a section of companies buoyed investor optimism about the outlook for their profit growth.

The Adani Power stock, which rallied the most in the last 12 sessions by rising 48%, added another 3.13% on Monday after the power company reported a lower-than-expected loss for the quarter ended June 2018.

The company reported a loss of Rs 825 crore against the Bloomberg consensus estimated loss of Rs 1,166 crore for the quarter.

Dilip Buildcon’s share price has risen 34.6% since July 19, Aditya Birla Fashion and Retail (ABFRL) followed by a 32% gain.

Vakrangee and PC Jeweller, which have lost more than 80% of their value since the beginning of 2018, also featured in the list of top performers in the last 12 sessions.

ABFRL posted an unexpected profit of Rs 5.6 crore for the first quarter of FY19, helped by the strong performance of its Pantaloons stores.

Analysts had projected a loss of Rs 16.34 crore for the three months ended June 2018.

ABFRL remains one of the top picks of Jefferies, which has a buy rating on the stock. The investment bank recently observed that while Q1 revenues were slightly better-than expectations, Ebitda, which grew 54.7% year-on-year, surpassed their expectations.

“ABFRL is showing signs of turnaround across segments and remains best placed to fight the increased competition given strong brands across price points, format and distribution (e-commerce contributes high single digit to Madura)”, Jefferies said in a note post the company’s results.

On Monday, shares of Indiabulls Ventures climbed to their life-time high of Rs 639.75 on NSE.

The stock has recorded over two-fold increase in 2018 so far after gaining nearly 13 times in 2017.

Among the Nifty small-cap stocks, Reliance Naval and Engineering, Sintex Plastics Technology, Trident and Gujarat Alkalies & Chemicals rallied in the range of 37.5% and 30% between July 19 and Monday, while the broader Nifty50 rose 3.9% during the same period.

Related Companies: National Stock Exchange of India Ltd (NSE)    

Other Latest News
RIL likely to report slowest profit growth in 15 quarters, say analysts
Posted on 18th July 2019
The operating profit of Mukesh Ambani promoted Reliance Industries' (RIL) is expected to take a hit in the June quarter. Analysts estimate a decline in earnings before interest, taxation, depreciation and amortization (EBITDA). The company is also expected to see its slowest profit growth in the last 15 quarters. RIL will report its June 2019 ended quarter results on Friday.

Gold prices remain near record high, silver rates surge
Posted on 18th July 2019
Gold prices today remained steady in India near record highs while silver rates continued to surge. On MCX, August gold contracts were today trading higher at ₹35,094, after hitting a new high of ₹35,145 last week. The October gold contracts were near ₹35,600. The September silver contracts on MCX zoomed 0.72% to ₹40,467 per kg, reflecting a surge in global prices.

Demand for digitally skilled talent to grow at 35 pc CAGR:NASSCOM
Posted on 18th July 2019
Chennai: The demand for digitally skilled workforce would rise at 35 per cent Compounded Annual Growth Rate till 2023 of the current talent base of four million, Information Technology body NASSCOM said here on Wednesday.

NASSCOM said the top priority for it was to reskill this base and has taken a number of initiatives, the first of which was proposed tie-ups with educational institutions.

Sensex drops over 100 points; Yes Bank slumps over 10 per cent
Posted on 18th July 2019
Mumbai: Domestic equity benchmark BSE Sensex dropped over 100 points in early trade Thursday led by heavy selloff in Yes Bank shares, amid weak cues from global markets and unabated foreign fund outflow.

The 30-share index was trading 112.21 points or 0.29 per cent lower at 39,103.43 at 0930 hours, and the broader Nifty fell 32.05 points or 0.27 per cent to 11,655.45.

How HDFC disrupted itself
Posted on 18th July 2019
Aditya (Puri) decided to travel to California to take a close look at the disruptions that were being discussed.

In September 2014, Mastercard Inc., a leading global payments and technology company that connects consumers, business, merchants, issuers and governments around the world, organised the trip for Aditya, then chairperson of its advisory committee for the Asia-Pacific region.

» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Nifty midcap continues to rise for 12th session in a row, gains 7.3%
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Security Code*

Be the first person to write a business review for Nifty midcap continues to rise for 12th session in a row, gains 7.3%

Most Read News

BSNL, MTNL beat Reliance Jio in January-March revenue growth

TCS launches free digital learning course to build career skills

HDFC to raise up to Rs 3,000 cr via bonds to augment long-term capital

Sensex resumes downward spiral; Bajaj Finance cracks 5%

Bank of Baroda to foray into e-commerce business

More India News

  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
About us
Link to us
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2019
    All Rights Reserved
Privacy Statement