Financial Year 2024: The Year Of Small, Midcap Stocks — Winners And Losers

If you picked the right mid-, small-cap stocks during financial year 2024, your portfolio will likely be grinning from ear to ear.

During the mentioned period, i.e. from April 2023 to March 2024, the small-cap and mid-cap indices outperformed the Indian benchmarks, Nifty and Sensex.

On the NSE, the Nifty Smallcap 250 rose 63.44% and the Nifty Midcap 150 advanced 55.76%. Meanwhile, the S&P BSE SmallCap jumped 60.76% and the MidCap was up 62.97%.

This compares to a gain of 28% and 25% in the Nifty 50 and the Sensex respectively during the fiscal.

Here are the companies that performed the best and the worst during the financial year.

Tata Motors Ltd., Bajaj Auto Ltd., and Adani Ports and Special Economic Zone Ltd. were among the big gainers. In the Nifty 50, Tata Motors and Bajaj Auto rose over 133% each, while Adani Ports and Coal India Ltd. rose over 100% each.

HDFC Bank Ltd. and Hindustan Unilever Ltd. were the only Nifty 50 companies to see declines in FY24. The 10% decline in HDFC Bank was mainly due to the selloff triggered by the contraction in its net interest margins in January.

BSE Ltd. and Suzlon Energy Ltd. led the mid-cap pack in FY24 to rise over 400% each. This compares to a 57% rise in the Nifty Midcap 150.

Kalyan Jewellers Ltd., Rail Vikas Nigam Ltd., SJVN Ltd., and Bharat Heavy Electricals Ltd. rose over 250% each during the year.

Paytm operator One 97 Communications Ltd. fell the most due to the Reserve Bank of India's scrutiny over the past two months.

Recently listed Tata Technologies Ltd., Zee Entertainment Enterprises Ltd., and UPL Ltd. led decline in the index.

In the small-cap space, Jai Balaji Industries Ltd.'s shares saw a mammoth gain of about 20 times during the year. While Inox Wind Ltd.'s stock rose 468.51%, HBL Power Systems Ltd., Schneider Electric Infrastructure Ltd., Anand Rathi Wealth Ltd., Housing and Urban Development Corp., Mangalore Refinery and Petrochemicals Ltd. and Jupiter Wagons Ltd. rose over 300%.

On the small-cap stocks that saw a decline in value, Rajesh Exports Ltd. fell the most at 55%.

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