The S&P BSE Smallcap index rose 31 percent followed by the S&P BSE Midcap index which rose 28 percent so far in the year 2017 compared to 19 percent return recorded by the S&P BSE Sensex.
The S&P BSE Small and Midcap indices hogged limelight so far in the year 2017 with plenty of stocks registering gains of over 100 percent. However, stock selection under this theme remains the key for generation consistent wealth creation.
Mutual fund manager increased their exposure in some of the beaten down stocks while added more positions in stocks which have already given a stellar performance so far in the year 2017.
Mutual Fund managers added AU Small Finance bank, the recently listed IPO in their portfolio. The other stocks which grabbed fund managers attention were KPIT Technologies which negative returns so far in the year.
Other stocks which grabbed fund managers attention include names like Indiabulls Real Estate which rose 232 percent, followed by Escorts which gained 109 percent, and Reliance Capital rose 84 percent so far in the year 2017, according to data provided by Morningstar India.
“A large number of mid and small cap stocks have seen stellar moves. But sustainable stock price appreciation has happened only for companies which have delivered profit growth and earnings visibility,” Sahil Kapoor, Chief Market Strategist, Edelweiss Broking told Moneycontrol.
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