32 smallcap stocks give double-digit weekly returns as Sensex ends in red

Shares of

, The Jammu & Kashmir Bank, Central , and Punjab & rose more than 16-45% in the week ended December 9 and also scaled fresh 52-week highs.

Punjab & Sind Bank turned a multibagger this year, while the other three stocks have gained in the range of 54-82%.

Despite a stellar run, public sector bank stocks are far from their lifetime highs. Analysts remain bullish on the entire public sector bank pack and recommend buying them given the favourable risk-reward.

Indian public sector banks have been on the path of normalisation over the past few years and delivered their best return on asset in the past eight years.

For analysts, the most comforting factor was the broad based improvement in asset quality metrics.

“PSBs will likely continue to lag on capital, but the gap will likely narrow as the core profitability improves going forward,” BofA Securities said in a recent report.

Chakri Lokapriya, CIO and MD at TCG AMC believes that shares of

can actually see another 40-50% upside, while Bank of India can move 25-30% higher from current levels.

Shares of

have gained more than 50% so far in 2022, and those of Bank of India by over 85%.

Besides banks, the other smallcap stocks that gave double-digit returns include TruCap Finance,

, , , , Puravankara, , , , , and .

(With data inputs from Ritesh Presswala)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)