Midcap strength continues

Markets favored midcaps on 7th September, where the SENSEX was totally flat, Midcap Index made 0.30% and small cap made 0.51%. Our portfolio managed a gain of 0.60%. This strength was possible due to big gains from metals sector, Tata Metaliks lead with a 10% gain followed by Jindal stainless with 7%. We had 3 stocks with above 5% gains.

Bajaj Finance, which has occupied mainstream news today, is close to 2000, it came into our portfolio at 470 levels.  Post its bonus issue, ranking dropped and we had restrictions on adding this stock to the newer accounts. We have  made 300% gains in this stock so far. The company has offered 4.50% stake to institutions at 1650 price level and had  4.50 times over subscription.

We had losses in SREI Infra which lost more than 7% followed by Himadri losing close to 5%. SREI lost today due to  Bharath Road not having good outcome in its IPO.

About Author

Ramesh Sigamani

Ramesh Sigamani

With over 3 decades of experience in capital market investments, Ramesh Sigamani is a trusted Financial Planner par excellence. He works personally with individuals and corporates to build a strong investment portfolio that stands firm against market volatilities and delivers time & time again.

Related posts

Shifting of Crude Oil pain

In early October this year the emerging economies predominantly India was worried about crude increasing rapidly on its price. Many of analyst expectations that it will not go beyond $63 went wrong, it moved past $80 and there were pessimists in the forefront talking that it will soon cross $100 and...

Read More

FM’s thoughts on Oil & Loan Waiver

Jaitley’s talk at the ET awards, “Users should pay for oil… else fiscal deficit will rise and add to the current account deficit. It will push up inflation, weaken rupee. Tax on fuel prices should come down not by creating fiscal deficit, but through an increase in the non-oil...

Read More

Give a Reply