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The investors who looked beyond Nifty have been handsomely rewarded. While Nifty has moved 1,736 points since the last Independence Day, which is a 9.8% gain, (Friday, August 12, 2022), the Nifty MidCap 100 has rallied 6,964 points or 22.61% and Nifty SmallCap 100 has traversed 2,241 points or 23.78%.
Defence stocks: The company, in an exchange filing, said, "Sika Interplant has secured significant new orders for advanced engineering products and services in the recent past. With these recent contracts, the cumulative of new orders received by Sika since the start of FY 2023-24 is Rs 117 crore (approx.) as on August 11, 2023." The company provides advanced products and solutions to the aerospace and defence sector.
For Nifty the crucial support zone on the downside is placed at 19350 – 19290 and on the upside, resistance is placed at 19530 – 19500.
Talbros Automotive Component was the top gainer in the smallcap segment with a nearly 31% return, followed by Zen Technologies (28.5%), Tasty Bite Eatables (28%), and Banco Products (27%). About 9 stocks, including Bajaj Hindusthan, Onmobile Global, Force Motors, Windlas Biotech, ZEE Media, and BF Utilities, offered returns between 20 and 25% during the week
The likes of Mazagon Dock, Zen Technologies, Bharat Dynamics, Hindustan Aeronautics and Taneja Aerospace have soared high. After such an explosive stock performance, is it worth adding to your positions, or should you book out instead?