Broader market outshines as Nifty Smallcap 100 rises 1.4%: GRSE, Railtel, Cochin Shipyard top contributors

The broader market on Wednesday, May 14, was trading higher, with both the midcap and smallcap indices outperforming the main equity benchmark indices.

During the intraday period, NIFTY Midcap 100 was trading 0.90% higher at the 56,018.70 level, while NIFTY Smallcap 100 was at 17,138.90, gaining 1.39%.

Many small-cap and mid-cap stocks were soaring following their March quarter earnings updates.

In the last month, the Nifty Midcap 100 index has gained almost 11%, and the Nifty Smallcap 100 gauge has climbed 9%.

After opening at the 16,997.15 level on Wednesday, the NIFTY Smallcap 100 index touched a high of the 17,142.20 level and a low of the 16,931.10 level during the intraday period.

On the index, Garden Reach Shipbuilders & Engineers (GRSE) led the rally, soaring over 17%. Shares of GRSE rallied as much as 18.28% to ₹2,264.90 apiece on the NSE on Wednesday, a day after it reported a net profit of ₹244 crore for Q4 FY25 against ₹112 crore logged in Q4 FY24, registering a growth of 118%.

Its revenue from operations stood at ₹1,642 crore in Q4 FY25 as against ₹1,016 crore seen in Q4 FY24, up 62%. The defence PSU reported a profit after tax (PAT) of ₹527 crore in 2024-25, registering a growth of 48% over ₹357 crore of net profit in the previous fiscal year, an official said on Tuesday.

HBL Engineering (10.71%), Nuvama Wealth Management (6.54%), Railtel Corporation of India (6.14%), Firstsource Solutions, Ircon International (5.49%) and Titagarh Rail Systems (5.07%) were the other biggest contributors on the small-cap index.

On the flip side, Godfrey Phillips India (-2.65%), Indiamart Intermesh (-2.41%), PG Electroplast (-2.35%), Shyam Metalics (-2.04%) and Energy and Aadhar Housing Finance (-2%) were the laggards on the index during the intraday period.

Shares of PG Eletropast declined despite the firm reporting a two-fold jump in consolidated net profit to ₹146.38 crore in the March quarter of FY 25. The jump in the profit was led by strategic expansion in products, capacity and an increase in operational efficiencies.

It had posted a consolidated net profit of ₹71.58 crore in the January-March quarter a year ago.

PGEL's revenue from operations was up 77.4% to ₹1,909.85 crore in the March quarter. It was at ₹1,076.57 crore in the corresponding quarter a year before. Total expenses of PGEL were ₹1,749.79 crore in the March quarter, up 76.84%. Its total revenue was up 78.68% to ₹1,929.72 crore in the March quarter.

After opening at the 55,718.20 level, the NIFTY Midcap 100 index touched a high of the 56,143.55 level and a low of 55,524 during the intraday period on Wednesday.

Shares of Cochin Shipyard were the biggest contributors on the index, surging 10.84%. The stock has been in the limelight since the last two trading sessions after Cochin Shipyard collaborated with Drydocks World, a DP World company, to develop ship repair and offshore fabrication hubs across India.

Aditya Birla Capital shares were also trading 6.25% higher at ₹217.69 apiece on NSE. The non-banking financial company (NBFC) on Tuesday had reported a consolidated profit of ₹865 crore for the three months ending on March 31, 2025.

This marked a 6% year-on-year (YoY) growth when adjusted for one-off gains from the sale of shares in its asset management business through an OFS in the fourth quarter of FY24. In the same quarter last year, the company posted a net profit of Rs 1,245 crore, which included the one-time gain. Excluding that, the profit stood at ₹812 crore.

Its total income grew to ₹12,239 crore in the January-March quarter of 2024-25 (FY25) from ₹10,803 crore in the year-ago period.

Waaree Energies (5.18%), Mazagon Dock (4.71%), National Aluminium Company (4.34%), SAIL (3.81%) and Suzlon Energy were the other top gainers on the index.

However, shares of SRF Ltd (-1.92%), Persistent Systems (-1.62%), Astral Ltd (-1.61%), AU Small Finance Bank (-1.27%) and Mankind Pharma (-1.21%) were the top losers on the index.