These mid and small caps can surge up to 15-29%: Report

Since November 14, the Nifty has experienced a 1.75% increase, following the release of mild US inflation data that fueled speculation about the Federal Reserve potentially halting further rate hikes. The IT sector, deriving a substantial portion of its revenue from the US, has seen an approximate 6% gain over the past six trading sessions.

According to analysts, stock markets will most likely trade in a narrow range ahead of crucial state assembly election results on December 3.

However, according to a report in the Economic Times, the recent surge in the stock market has resulted in higher valuations for many stocks, particularly in the mid-cap and small-cap sectors. This has sparked concerns about the potential limitations on further growth. However, analysts believe that there are still opportunities for gains in select smaller stocks.

Over the past three months, analysts have revised their price targets upwards for a range of small and mid-cap companies. Based on the aggregated price targets from Bloomberg, companies like EIH, Cholamandalam Financial, Teamlease Services, Bank of India, Sunteck Realty, Mahindra Holidays, and Zomato are expected to see returns between 15-29% following these upward revisions.

The ET has compiled a list of 15 such stocks where analysts have increased their target prices by over 15% in the last three months. These stocks are projected to yield at least 10% returns in the upcoming year.