The Indian stock market has been experiencing significant volatility in recent times due concerns over the stability of the global banking system, which has spread from the United States to Europe, worries about further rate hikes from major central banks, and ongoing geopolitical tensions.
Despite the market conditions being unfavourable, four mid-cap stocks have managed to hold their ground and are trading near their one-year highs, Trendlyne data showed.
Max Healthcare Institute is at the top, with its shares trading just 2.86% away from their 52-week high of ₹482.2 apiece. The stock has gained 10.21% in the current month so far, rising from ₹425 to the current level of ₹468.40.
Following the company's Q3FY23 performance, brokerage firm Prabhudas Lilladher has retained its "buy" rating on the stock with a target price of ₹500 apiece.
The other stock that is trading close to a one-year high is ABB India. The stock began its upward journey on February 03, 2023, and has since gained nearly 17.57%, moving from ₹2,805 apiece to the current level of ₹3,298.
The stock last reached its 52-week high of ₹3,446.3 on September 02, 2022, and at current levels, it is only 4.29% away from that level. Recently in January, domestic brokerage firm Kotak Securities upgraded the stock's rating to 'buy' from 'reduce' but kept the target price unchanged at ₹3,100.
Indiamart Intermesh, an online B2B marketplace, is next on the list. The company's shares have surged impressively over the last three months, recording a rise of 19.35%, climbing from ₹4,108.75 apiece to ₹4,904. Since its 52-week low of ₹3,676, the stock has risen by nearly 32.82%.
Over the last seven months, the stock zoomed by 32.21%, while in the last three-year period, the stock delivered a staggering return of 121.73%, accelerating from Rs. 2,213 apiece to the current level.
On April 11, 2022, the stock hit a 52-week high of ₹5,248 and, on July 06, 2022, it hit a 52-week low of ₹3,676. Taking the current price into account, the stock is trading 33.37% higher than its 52-week low and only 6.55% away from its one-year high.
In Q3FY23, the company reported a 61.14% YoY rise in its consolidated net profit to ₹112.8 crore, as compared to a net profit of ₹70 crore in a similar quarter of the last fiscal.
Further, shares of Aditya Birla Capital are also moving close to their one-year high. The stock gained traction in the start of February and has remained in the same trend to date, producing a return of nearly 9.82% to ₹149.85, just 7.75% away from its 52-week high of ₹162.45.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of MintGenie.
