Since the new cases peaked in May amid the second wave of coronavirus, the Indian market has been in an uptrend. In 2021 so far, Sensex has climbed 9 percent, the smallcap index has gained about 36 percent and the midcap index has gained 26 percent. Among the indices, the BSE smallcap index has outperformed midcap and the benchmark index Sensex periodically (1 month, 3 months, and year-to-date period). 52 stocks from the smallcap index have doubled in less than a 6-month period (2021 so far). Further filtering the list, we considered only those stocks whose trailing twelve months price to earnings ratio (P/E) are trading below their industry average P/E, and are still trading at least 10 percent below their 52-week high. Interestingly, 6 stocks have made the cut. (Data Source: ACE Equity).
2/8
IIFL Finance Ltd. | The stock has surged 139 percent to 271.70 on June 9 from Rs 113.75 on December 31, 2020. It is trading 21.60 percent below its 52-week high of Rs 346.55. The company's 12-month trailing PE 13.5 as against the Industry average PE of 48.43.
3/8
Tata Steel BSL Ltd. | The stock has surged 125 percent to 89.40 on June 9 from Rs 39.8 on December 31, 2020. It is trading 18.43 percent below its 52-week high of Rs 109.6. The company's 12-month trailing PE 3.9 as against the Industry average PE of 13.5.
4/8
Manali Petrochemicals Ltd. | The stock has surged 124 percent to 80.65 on June 9 from Rs 35.95 on December 31, 2020. It is trading 10.39 percent below its 52-week high of Rs 90. The company's 12-month trailing PE 10.6 as against the Industry average PE of 42.3.
PNB Housing Finance Ltd. | The stock has surged 122 percent to 809.90 on June 9 from Rs 364.4 on December 31, 2020. It is trading 12.35 percent below its 52-week high of Rs 924. The company's 12-month trailing PE 14.7 as against the Industry average PE of 28.5.
6/8
Godawari Power & Ispat Ltd. | The stock has surged 112 percent to 1010.35 on June 9 from Rs 475.65 on December 31, 2020. It is trading 10.54 percent below its 52-week high of Rs 1129.45. The company's 12-month trailing PE 5.6 as against the Industry average PE of 13.5.
7/8
Filatex India Ltd. | The stock has surged 100 percent to 95.80 on June 9 from Rs 47.85 on December 31, 2020. It is trading 15.96 percent below its 52-week high of Rs 114. The company's 12-month trailing PE 12.8 as against the Industry average PE of 16.9.
8/8
In 2021, these 16 smallcap stocks have gained over 150 percent in which Adani Total Gas leads the pack with 326 percent.
