132 smallcap stocks offer double-digit weekly returns in volatile Budget week
Budget week has not sparked any significant excitement in the market as the government measures were both populist and prudent. The increase in short- and long-term capital gains taxes added to the volatility.
During the week, as many as 132 smallcap stocks delivered double digit weekly returns with eight of them offering over 25% returns.
Antony Waste Handling Cell was the top gainer in the smallcap pack with 49.4% return, followed by MTNL (40%), Bhagiradha Chemicals and Industries (35.4%), and PC Jewellers (27.5%).
About 12 stocks including Indian Hume Pipe, GHCL Textile, Thyrocare Technologies, Associated Alcohols, Associated Alcohols, RSWM, Ambika Cotton Mills, IFCI among others have offered returns between 20-25% during the week.
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In the midcap segment, five stocks including IDBI Bank, Indian Hotels, Hindustan Petroleum Corp, among others have risen in double digits. While IDBI Bank has gained 17.21%, Indian Hotels and Hindustan Petroleum were up 12% and 12%, respectively.
Among the Sensex pack, Tata Motors topped the charts with nearly 13% returns, followed by Sun Pharma at 9.2% and NTPC at 8.8%.
What should investors do?
Despite the volatility induced by the budget, the market has now recovered its losses from budget day, driven by positive US GDP data and expectations of
