​10 midcap stocks that rallied up to 51% since the West Asia conflict began

Dalal Street has seen a sharp selloff since the beginning of the raging war between Iran and the US-Israel, which led to a skyrocketing rally in oil prices. However, midcap stocks outperformed with the broader market index soon erasing all losses while benchmark indices Sensex and Nifty plunged into the deep red. Here are 10 midcap stocks that have gained 20-51% since the war began late in February.

Shares of Bharat Heavy Electricals (BHEL) have gained over 51% since the beginning of March. The shares hit a 52-week high of Rs 417.90 apiece this month, gaining over 25% in one month and 67% in one year. In the longer term, the shares of the company have jumped 411% in three years and 464% in five years.

Ola Electric Mobility shares have gained more than 45% since early March this year. After hitting a 52-week low of Rs 22.05 apiece in March, the stock sharply rallied more than 90% in just a month to hit a multi-month high of Rs 42 apiece. The stock has however fallen 7% in one month, 3% in 2026 so far and 29% in one year.

The shares of Thermax have surged by nearly 42% since the geopolitical conflict broke out in late February. Backed by increasing demand in the energy and environment segments, the shares of the company gained 6% in one month and 44% in 2026 so far.

Oracle Financial Services Software shares have witnessed a rally of 39% since early March. The shares of the IT software player have gained 9% in one week, 20% in one month, and 27% in 2026 so far.

Lloyds Metals & Energy shares spiked by 35% since the onset of the conflict between Iran and the US-Israel. The shares of the metals company have fallen 6% in one week, but gained 22% in 2026 so far.

Premier Energies shares have logged healthy gains of 34% since late February. As high crude oil prices and gas crisis put the spotlight back on alternative power, this renewable energy player has emerged as one of the top midcap gainers amid soaring temperatures.

The listed edtech company saw its stock price climb by 31% since early March. Physicswallah shares have gained over 5% in one month, but declined over 15% in 2026 so far.

Hitachi Energy India shares jumped over 30% since the war began earlier this year. This came as soaring temperatures boosted hopes for higher demand for cooling appliances and other products. The midcap stock has jumped over 20% in one month and 125% in one year, gaining 93% in 2026 so far.

Shares of pharma major Laurus Labs have gained 25% since the conflict began late in February. The stock has gained over 6% in one week, 20% in one month, and a whopping 129% in one year.

Wind energy major Suzlon Energy saw its share price rise nearly 24% since the beginning of the conflict. The shares of the company have, however, fallen 13% in one year, but gained over 519% in three years and a whopping 942% in five years.
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