Top Five Mid-Cap Stocks Which Generated Highest Returns Since YTD

There are a large number of investors in the Indian capital market having different types of risk appetite. In the capital market, companies having large capitalization rule the movement of whole market, thereby falling under medium risky investment. So, this created a need for the formation of a separate segment to capture the price movement of stocks which have medium and lower market capitalization and fall under the higher risk appetite. Hence, here we list the top five appreciated stocks from S&P BSE Mid-Cap index since January 1, 2014. 

To arrive at the table, we have used the below mentioned filters:

• We have considered S&P BSE Mid-Cap stocks
• We have considered the stock price performance from January 1, 2014 to March 31, 2014
• We have sorted the table based on the highest return given by stocks since January 1, 2014

Risa International: Risa International, formerly known as Govindji Trikamdas Exports, has given the highest return of 91% in the last three month period, benefited from the depreciation in Indian rupee. The company is engaged in the textile export business. The book value of the stock is Rs. 147.39 per share. On the valuations front, the stock price is trading at a current PE ratio of 146875x. 

Muthoot Finance: Although the finance companies have not been an attractive investment option in the past and the stocks have not been giving much to the investors, this stock has out-performed the sector and gained 58% since January 1, 2014. It is a non-banking finance company operating in two segments viz. financing (provides personal and business loans) and power generation. The book value of the company is Rs. 30 per share. On valuations side also, the stock is available at a single digit current PE ratio of 6x.

Apollo Tyres: The company manufactures tyres for the passenger, commercial and off-highway segment. The slow revamp in auto sector in the past couple of months and the lowering of natural rubber prices which accounts 44% of the total raw material of tyre, supported the growth and has given a return of 52% since January 1, 2014. Currently, the stock is trading at a PE ratio of 13x. Its book value is Rs. 133.87 per share.  

Balkrishna Industries: Balkrishna Industries is again a type of manufacturing company which has gained about 40% in its stock price, majorly on account of the lowering of natural rubber prices and improvement in auto sector in the past couple of months. The company is an off-highway and specialty tyre (like agricultural, construction, industrial etc.)

Ashok Leyland: The company is engaged in the manufacturing of commercial vehicle, which includes buses, trucks, light vehicles and defence vehicles. The stock has given a return of 38% in the three-month period. The book value of the stock per share is Rs. 263.95. The current PE ratio of the stock stands at 13.8x.