Despite Market Crash, These 10 Midcap Stocks Have Given Best Returns

On Nov 28, 2021

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On October 18, 2021, the Nifty 50 index climbed 138.50 points or 0.76 percent to close at a record high of 18,477.05. The market has since tanked around 8 percent and many stocks have plummeted over various concerns. However, some midcaps have stood strong and have rewarded investors handsomely. Here are 10 top gainers that have gained the most since October record highs. (Image: Reuters)

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Escorts: Percent change: 21% | October 18 closing price: Rs 1551.25 | November 26 closing price: Rs 1869.4 (Image: Escorts Limited)

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TVS Motor Company: Percent change: 16% | October 18 closing price: Rs 585.9 | November 26 closing price: Rs 676.8 (Image: PTI)

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Adani Total Gas: Percent change: 14% | October 18 closing price: Rs 1445.05 | November 26 closing price: Rs 1645.6

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Zee Entertainment: Buy | Target: Rs 350 | Return: 24.64 percentPulled down by the sharp drop in advertising revenue, Zee's revenue slid 5.5 percent YoY to Rs 2,049 crore. Domestic ad revenue declined 15.7 percent YoY. On the new tariff implemented last year, domestic subscription revenue grew 21.7 percent YoY. The EBITDA margin slipped 720bps YoY to 27.6 percent."After the stake sale, management is now focusing on improving cash-flows and the balance sheet, through recovering receivables from related party, a huge positive. On the less than expected results, we cut our FY20 / FY21 EBITDA estimates respectively 4 percent and 6 percent, and our target multiple to 12x FY22 expected EBITDA (earlier valuing it at 13x FY21 EBITDA). Thus, we arrive at a target of Rs 350 (earlier Rs 364)," said Anand Rathi.The brokerage now valued Zee at 12x FY22 expected EV/EBITDA and upgraded recommendation to a buy. "Risk is any slippage in content ratings."

Zee Entertainment Enterprises: Percent change: 10% | October 18 closing price: Rs 310.85 | November 26 closing price: Rs 342.55

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L&T Technology Services: Percent change: 9% | October 18 closing price: Rs 4851.65 | November 26 closing price: Rs 5281.1 (Image: Reuters)

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Fortis Healthcare: Percent change: 8% | October 18 closing price: Rs 262.7 | November 26 closing price: Rs 283.35 (Image: Reuters)

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Page Industries: Percent change: 4% | October 18 closing price: Rs 37543.15 | November 26 closing price: Rs 38971.9 (Image: Page Industries)

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Shriram Transport Finance Company: Percent change: 4% | October 18 closing price: Rs 1395.2 | November 26 closing price: Rs 1446.7 (Image: Shriram Transport)

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Torrent Power: Percent change: 3% | October 18 closing price: Rs 521.3 | November 26 closing price: Rs 538.1

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Glenmark Pharmaceuticals: Percent change: 3% | October 18 closing price: Rs 519 | November 26 closing price: Rs 532.2