Power punch: 15 midcaps that outperformed market fall

Moneycontrol Bureau As Indian market sits licking its wounds, there are few midcap stocks which outlasted the Chinese slaughter. These midcap stocks have weathered a storm that eroded Sensex and Nifty by 7 percent while Midcap index fell 5 percent in the last one month (July 27-August 26). It does not end there, these midcaps have also remained firm even after heavy selling days on August 24-26, when benchmark indices crashed 6 percent each.

Charm of the midcaps remains with investors as most analyts are bullish, betting on valuations and earnings growth. Nitin Jain, Principle Investment Manager Kotak UK is optimistic that domestic investors would be buyers of midcap more than largecap. He feels that the midcap space is the space to stay on if one can hold the market for more than one year. He believes that now earnings will start catching up as price to earnings (PE) multiple rerating of the entire midcap segment is possibly done with at this point of time. So, here are the 15 midcaps which gained 4-25 percent in the last one month (July 27-August 26).

Amara Raja touched record high at Rs 1132 on August 25. The stock is up 25 percent in the one-month period and one of the best midcap performers on a weak market. It has posted a consistent performance, strong return ratios, good earnings visibility and a strong balance sheet. Its Q1FY16 net profit rose 15.22 percent to Rs 122.09 crore while total income stood at Rs 1,144.97 crore up 11.26 percent on an annual basis.As south Indian broadcaster Sun TV remains embroiled in a court case over uncertainity on licences for 33 channels, Sun TV gained around 11 percent in the month under review. The Kalanithi Maran-owned channel may get security clearance for its TV channels Union Information and Broadcasting Minister Arun Jaitley noted that the government should not deny it clearance. Its Q1 net profit jumped 19 percent to Rs 197.28 crore while advertising revenue also grew 16 percent to Rs 323.89 crore on an annual basis.Buoyed up by strong Q1 results, Ashok Leyland jumped 8 percent in the one-month period. The country's second largest commercial vehicle maker turned profitable with first quarter net at Rs 159.3 crore against loss of Rs 47.9 crore in the year-ago period. Strong operational performance & revenue and lower interest cost helped the company post strong bottomline.

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