700% surge in 6 mths: 25 SME stocks reach for the sky

Stocks of small and medium enterprises (SME) have had a good run at the bourses, with select counters surging more than 700 per cent in calendar year 2024, according to data from ACE Equity.

- PUNEET WADHWA & REX CANO

Of the 192 SME stocks listed on the NSE, 109, or nearly 57 per cent of the counters have given a positive return in this period.

Of the 109 SME counters, 65 stocks have given a double-digit return (between 10 per cent and 99 per cent) and 25 have more than 100 per cent returns. The Nifty 50 index has gained around 10 per cent in this period.

Several SME stocks could have seen a price rise in an overall buoyant market sentiment, said G Chokkalingam, founder and head of research at Equinomics Research.

This makes them a risky proposition at current levels, he said.

"Some SME counters may have low floating stock and could see a rise on account of speculative activity.