REC leads financial services stocks with 139% Price Gain
This year the Indian markets have witnessed both turnaround and turmoil at different point of time. Indian markets started gaining momentum from April onwards and is now witnessing post peak turmoil of the year. FII sell-off has made due to hawkish Federal Reserve impacted all most all the segments. This year, financial services emerged as one the favorites as the listed companies from the sector continued to deliver strong performances. With the global economic scenario remaining gloomy, financial services and bank stocks attracted a lot of interest. A good number of stocks have risen more than 50% this year. Astonishingly, mid-cap stock like REC leads financial services stocks with over 100% gain.
REC along with two other stocks from the sector have so far gained over 100%. REC remains the top performing stock with 139% price gain on YTD basis ending 29 September. BSE and IRFC are two other stocks.
There are just six financial services stocks which have delivered over 50% price gains on YTD basis and during the Jul-Sep Quarter. REC happens to be the only stock among the list which also delivered more than 40% price gains during Jun quarter. REC price rose from Rs 120 in the beginning of the year to Rs 287 in the end of September.
|SYMBOL||02-Jan||29-Sep||YTD||Jun QTR||Sep QTR||Sep|
Data Source: NSE
REC was the top financial performing stock as Central Bank delivered 47% price gain. But, REC stock performance remained resilient in the month of September as it clocked double digit price gain with 20% rise.