Little Masters! Market cap of these 35 small cap firms jumped over 1,000% in 2024

At least 35 small cap firms on Dalal Street witnessed more than 10 times rise in their market capitalisation in the ongoing calendar year till November 21. Meanwhile, the BSE Smallcap and BSE Midcap indices advanced 14% each during the same period. On the other hand, the benchmark BSE Sensex gained nearly 9%.

 

Starting with the top mover on the list, the market valuation of Sri Adhikari Brothers Television Network soared 420 times, or 41,935% to Rs 4,744.51 crore on December 20, 2024, from Rs 11.29 crore on December 29, 2023. Shares of the company jumped to Rs 1,869.90 from Rs 3.23 during the same period. Rajasthan Gases emerged as the second biggest gainer with market cap climbing 125 times to Rs 539 crore in 2024. It was followed by Chandrima Mercantiles (up 117 times) and Mini Diamonds (India) (up 73 times).

 

G. Chokkalingam, Founder, Equinomics Research believes that BSE Sensex and NSE Nifty may remain weak in the short term.

 

“We expect the small- and mid-cap segments to perform better in Q1CY25 for two reasons. Firstly, despite overall market weakness in recent weeks, there has been no drop in the entry of new retail investors. Even now 0.7 to 0.8 million new investors enter equity markets every week. Last week over 1 million new investors registered on the capital markets,” he said.

 

He added that most retail investors heavily focus on small and mid-cap (Smc) segments. “Out of over 4,000 stocks listed in Smc segment, many unique individual stories in terms of growth and deep values are available. This segment has also created significant wealth in the recent boom. Hence we firmly expect Smc segment to recover in January 2025 and outperform significantly large caps in Q1 CY2025,” Chokkalingam added.

 

 

Market valuation of Fischer Medical Ventures, Azad India Mobility, GTT Data Solutions, Fratelli Vineyards, Jaysynth Orgochem, Manbro Industries, Aayush Wellness, Ashika Credit Capital, Marsons, Royal India Corporation and New Light Apparels also gained somewhere between 30 times to 72 times on a year-to-date basis.

 

Sharing his views on broader markets, Vaibhav Sanghavi, CEO, ASK Hedge Solutions said, “We have witnessed a sizeable expansion of valuations in the broader market whilst waiting for commensurate earnings performance. Part of this is also due to the lack of adequate float with consistent flows in mid- and small-cap funds pushing up the valuations. Fundamentally, in our view, investments done at higher valuations increase the gestation period in terms of holding for accomplishing your desired rate of return. Our comfort on large caps is relatively higher than that of broader markets.”

 

Data further highlighted the market valuation of Stratmont Industries, Vantage Knowledge Academy, Welcure Drugs & Pharmaceuticals, Marble City India, Ace Software Exports, BITS, Healthy Life Agritec, Aayush Art And Bullion, Eraaya Lifespaces, Kisan Mouldings, Arihant Foundations & Housing, Leading Leasing Finance And Investment Co, Hindustan Appliances, Epic Energy, ITCONS E-Solutions, CIAN Agro Industries & Infrastructure, IMEC Services, Constronics Infra, Mehai Technology, Ceenik Exports (India) also jumped by more than 10 times so far in 2024.

 

Sanghavi believes that sectors such as IT, consumer durables, telecom, financial services, structural reforms-led defence and renewables and select pharma and CDMO players may do well in 2025.