Independence Day 2024: The top 5 mid-cap gainers of the year are Oracle Financial Services Software Ltd., Bharat Heavy Electricals Ltd. (BHEL), Trent Ltd., Multibagger Oil India, and Indian Railway Finance Corporation Ltd. (IRFC).
Strong investor confidence has helped the S&P BSE Mid Cap Index rise by more than 53% in the last year. Numerous enterprises are witnessing a turnaround in their fortunes, as the nation’s robust economic expansion continues to assist. For example, it is anticipated that upstream oil producer Oil India Ltd will continue to reap benefits from increasing production, refinery expansions at its Numaligarh facility, and rising domestic gas prices.
With a 257% increase in share price over the past year, investors have seen multi-bagger gains from Oil India Ltd.
Even though the S&P BSE MidCap Index has increased by more than 53% in the past year, numerous equities have outperformed the mid-cap index.
The largest gainer in terms of share price is Oil India, although the Indian Railway Finance Corporation (IRFC) is not far behind with gains of almost 251%. Trent Ltd. is another winner with gains of over 200%. Over the previous year, Trent’s share prices increased by almost 233%.
Despite poor consumption indicated by other stores, analysts are still optimistic about Trent putting up a great first-quarter performance. Strong productivity, aggressive store expansion, marginal tailwinds from moderating raw material costs, and operating leverage, according to Motilal Oswal Financial Services (MOFSL) analysts, are factors that support their estimates of a compound annual growth rate (CAGR) of 41% and 52% for revenue and net profit in the FY24–26 period.
The stock values of Oracle Financial Services Software Ltd. and Bharat Heavy Electricals Ltd. (BHEL) have also increased significantly. The share price of Bharat Heavy Electricals Ltd (BHEL) has increased by 185%. Gains in BHEL’s share price were driven by the nation’s high demand for electricity, growing economic activity, government initiatives for capital expenditures, and railroad spending.
The share price of Oracle Financial Services Software Ltd. increased by almost 166%, placing it among the top 5 mid-cap gainers.
