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Midcaps Hit New Highs Amidst Market Dip
17 Aug
Summary
- Four midcap stocks reached new 52-week highs on Monday.
- KEI Industries saw a significant 20% surge in the past month.
- Ajanta Pharma achieved a remarkable 98% gain in one month.
On Monday, the Indian stock market experienced a downturn, with the benchmark Sensex declining by 281 points to close at 77,782. However, this broader market correction did not deter four midcap companies from the BSE Midcap Index, as they all touched their 52-week highs. Reaching a 52-week high is often viewed as a strong positive indicator.
KEI Industries stands out, reaching a new 52-week high of Rs 5881 and currently trading at Rs 5865. This stock has surged approximately 20% in the last month alone. LG Electronics India also touched a new 52-week high of Rs 1755.55, with its stock gaining around 9% in the past month.
Ajanta Pharma has shown remarkable performance, hitting a new 52-week high of Rs 3737. The stock has surged approximately 98% in the last month. In contrast, Ipca Laboratories reached a new 52-week high of Rs 1945 but has remained relatively flat with a slight negative bias over the past month.
