CNBC-TV18 reports on the kind of midcaps that fell during the August fall and how much have they recovered during the past few days.
Analysts said that the midcap index is up 12% in the recovery, which started from August 22, and it was down 10-12% during the fall, which started on July 27 and lasted till August 1.
It has outperformed the other major indices like the Nifty and Sensex in this recovery. There have been strengths in some of the stocks like Adani Enterprises, Chambal Fertilisers and Exide, right through the fall as well as the recovery.
Chambal was up 18% during the fall and up 18% during the recovery. The increase in lead prices does not seem to have deterred Exide. It was up 1% during the fall and up 11% over the recovery.
There are some stocks that are the stars of the recovery, like UCO Bank, India Cements and Nicholas Piramal, that are up 25-32% during the recovery phase, where they had fallen only 10%.
Some of the stocks that are yet to recover are Divis Labs , JSW Steel , Hotel Leela across sectors like pharma, steel, banking, etc. They have recovered mildly but are yet to recover fully.
There are some stocks, which have not recovered at all, especially in the biotech and pharma space, which still shows some value right now. Pfizer, Sterling Biotech, Wyeth and Aventis are stocks which have fallen from 7% to 20% but have not shown any recovery at all. They are down 1-2% down over the last 10 trading days and are 20-25% from their July highs.
Analysts said that the midcap index is up 12% in the recovery, which started from August 22, and it was down 10-12% during the fall, which started on July 27 and lasted till August 1.
