Investors of Ucal Fuel Systems and Mangalam Timber Products have a common thing to cheer about. Both the stocks are up an incredible 52% in the first week of this year. These stocks are continuing with their run-up of 2009. Among the other major gainers in the first seven days were JJ Exports (47%), Bhagwati Banquets & Hotels (46%) and Kaushalya Infrastructure Development Corporation (42%).

Lakshmi Mills Company leapt 46% and Ruchi Infrastructure was up 40%. There was intense buying interest in the counter of Hindustan National Glass & Industries (up 39%) and Goldstone Infratech (up 37%). Moneylife has looked at the performance of the first seven days as an indicator of the rest of the year. While there is no clear correlation, it is interesting to note that the big gainers of last year indeed did well over the course of 2009.

For instance, Kitply Industries was up 89% in the first week of last year. It also performed well throughout the year with a gain of 53%. Jenson & Nicholson (43%), Lyka Labs (41%), JBF Industries (28%) and Adhunik Metals (26%) started year 2009 with a rally in their counters and also ended the year with huge gains (105%, 86%, 224% and 243% respectively).

There are other stocks like Delta Corp (25%), Hindustan Zinc (25%) and Winsome Yarns (24%) which continued their robust performance throughout the year (48%, 237% and 76% respectively). Would the early racers this year live to their promise?

As a matter of interest, in the first week this year, Anik Industries, Crew BOS Products and Repro India were down 8% each. Crew BOS has announced that it would issue 20,00,000 warrants convertible to equity shares on preferential basis to the promoters. SKM Engineering Products Export fell 9%, Tasty Bite Eatables was down 10%and slipped 10%. Accel Frontline (down 11%) lost its sheen this year and was marginally high last year. Shah Alloys (down 12%), Manasia (down 15%) and Gufic Bioscience (down 17%) plunged during the very first week of the year.

— Subrato Das & Pratibha Kamath