Friday, November 03, 2006
Indian midcap market - on the rise
Ever since the May crash of the Indian stock market, a lot of the mid-caps crashed and remained down for a significant period of time. I held stocks from different categories, with some examples being Ansal Housing, Era Constructions, IVRCL, KLG Systel, Noida Toll, TRF, Atlas Copco, KCP Ltd, etc.
These are all recovering and advancing now. They are still far away from the May highs, but many of them are upto 100% higher than the slump that they had fallen to. So it seems like my policy of staying firm with these shares seems to be working for now. All the recent trends that I have read seem to indicate that the interest in mid-caps seems to be picking up, and there is scope for an increase in mid-cap prices.
The situation is such that even if I sold, what would I buy. There does not seem too many new things that you can be totally confident of buying at such peak levels. However, a couple of scripts that I am tracking based on some stuff that I have read are: Nicco corporation (turnaround), Shasun chemical, Zenith fibre, Cable Corporation, Walchand.
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