Despite the Covid-19 led challenges in the economy, the Indian stock market has rallied sharply since its March low this year. Buoyed by robust liquidity in the market, the Nifty 50 has gained 51 per cent between March and September, while the Nifty Mid-cap 100 and Nifty Small-cap 100 indices have outperformed the Nifty 50, rising about 58 and 78 per cent respectively. The recent announcement by the capital market regulator SEBI on new portfolio norms for mutual fund multi-cap schemes have also given a boost to the mid-cap and small-cap stocks in the past week.

Nearly 17 of 100 stocks in the Nifty Mid-cap 100 index, have more than doubled between their March lows and September this year. The winners are mainly from the pharmaceuticals, IT and telecom sectors. Of the remaining 83, 42 stocks, mostly in sectors such as finance and healthcare/pharmaceuticals, have delivered more than 50 per

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