How has the icTracker performed against the Nifty Midcap 50?

Starting with an initial corpus of Rs.100,000, we backtested the performance of the icTracker by constructing a virtual portfolio based on the icTracker recommendations, and benchmarked it against the Nifty Midcap 50. Here is how this virtual portfolio has performed from December 2016 onwards:

Performance of icTracker v/s Nifty Midcap 50 over time (in multiples of initial corpus)

As seen above, the initial corpus of Rs.100,000 invested on 31 December 2016 has grown to Rs.2,561,428 as of 31 March 2026.

In other words, the icTracker has outperformed the Nifty Midcap 50 by 605% during this period.

Generated Portfolio Stats
CAGR Alpha Beta Std Deviation Sharpe Ratio Treynor Ratio Modigliani Ratio
41.98%30.11%0.495095555.00%63.68%70.74%21.17%

The detailed performance data for the above chart is shown below.

icTracker gen.Nifty Midcap 50
Qtr EndTrade DatePortfolio valueIndex ValuePortfolio value
31 Dec 201614 Feb 2017100,0004,079.45100,000
31 Mar 201715 May 2017130,5674,710.40115,467
30 Jun 201714 Aug 2017190,3104,628.00113,447
30 Sep 201714 Nov 2017257,8385,080.50124,539
31 Dec 201714 Feb 2018277,4675,254.75128,810
31 Mar 201815 May 2018258,1805,111.75125,305
30 Jun 201814 Aug 2018253,9595,095.00124,894
30 Sep 201814 Nov 2018244,7264,801.65117,703
31 Dec 201814 Feb 2019229,0864,507.00110,481
31 Mar 201915 May 2019213,4664,585.00112,393
30 Jun 201914 Aug 2019214,9734,271.75104,714
30 Sep 201914 Nov 2019251,3754,572.25112,080
31 Dec 201914 Feb 2020331,9084,887.55119,809
31 Mar 202015 May 2020292,9083,618.5088,701
30 Jun 202014 Aug 2020385,3454,537.80111,236
30 Sep 202014 Nov 2020558,1015,124.60125,620
31 Dec 202015 Feb 2021676,1686,859.65168,151
31 Mar 202117 May 2021785,2116,911.70169,427
30 Jun 202116 Aug 20211,917,2157,485.65183,497
30 Sep 202115 Nov 20211,805,5808,965.00219,760
31 Dec 202114 Feb 20221,677,7807,880.25193,169
31 Mar 202216 May 20221,594,0127,468.95183,087
30 Jun 202216 Aug 20221,600,7758,456.15207,287
30 Sep 202214 Nov 20221,647,3788,678.55212,738
31 Dec 202214 Feb 20231,541,0018,627.35211,483
31 Mar 202315 May 20231,681,8859,239.25226,483
30 Jun 202314 Aug 20231,937,82210,827.45265,414
30 Sep 202315 Nov 20232,446,89111,774.95288,641
31 Dec 202314 Feb 20242,689,95913,776.35337,701
31 Mar 202415 May 20242,492,06614,262.55349,619
30 Jun 202414 Aug 20242,768,94915,922.95390,321
30 Sep 202414 Nov 20242,727,63015,048.10368,876
31 Dec 202414 Feb 20252,478,61213,927.35341,403
31 Mar 202515 May 20252,328,79015,931.85390,539
30 Jun 202514 Aug 20252,416,96515,926.15390,400
30 Sep 202514 Nov 20252,625,71017,299.70424,069
31 Dec 202516 Feb 20262,710,49717,025.70417,353
31 Mar 202615 May 20262,561,42817,273.15423,419
CAGR41.98%16.88%

The icTracker recommendations based virtual portfolio that has achieved this incredible feat is reproduced below for your reference. This portfolio includes dividends, stock splits and bonus where applicable. Buy transactions less than six months old that are still open, remain undisclosed.

StockBUY TransactionsSELL TransactionsPROFITLATEST
NoNameDateQtyPriceSLValueDateQtyPriceValueDividendGainPriceValue
1 AIA Engineering14 Feb 2017141,413.61,274.819,79215 May 2017141,509.621,132561,339----
2 Avanti Feeds14 Feb 201733575.7489.018,99814 Nov 2017332,702.689,17529770,177----
3 Indraprastha Gas14 Feb 2017341,023.6877.534,80615 May 2017341,000.334,005--(801)----
4 NATCO Pharma14 Feb 201711776.0640.58,53715 May 201711934.410,277661,740----
5 V-Mart Retail14 Feb 201728625.9499.117,52715 May 2017281,041.429,156--11,629----
6 Avanti Feeds15 May 2017271,076.9801.629,07814 Nov 2017272,702.672,96224343,884----
7 Centrum Capital15 May 201735549.334.017,48614 Aug 201735559.321,049--3,564----
8 City Union Bank15 May 2017158181.8138.328,72714 Aug 2017173156.127,00352(1,725)----
9 Sharda Motor Industries15 May 2017111,887.11,463.120,76014 Aug 2017112,616.328,776--8,016----
10 Avanti Feeds14 Aug 201711,898.51,544.51,89914 Nov 201712,702.62,702--804----
11 DCM Shriram14 Aug 201761384.5346.823,45414 Nov 201761578.935,306--11,853----
12 SpiceJet14 Aug 201747122.5108.45,75814 Nov 201747142.16,678--920----
13 TTK Prestige14 Aug 201766,280.15,913.737,68414 Nov 201766,649.639,893--2,209----
14 VIP Industries14 Aug 201729195.5180.25,66914 Nov 201729316.89,185--3,516----
15 Cyient Limited14 Nov 201791540.6490.149,19514 Feb 201891624.056,7783647,583----
16 Dhanuka Agritech14 Nov 201739659.4627.525,71914 Feb 201839675.326,332--613----
17 Gulf Oil Lubricants India14 Nov 201715982.7797.914,74115 May 201815895.613,43360(1,309)----
18 Hawkins Cookers14 Nov 2017472,802.52,706.0131,73114 Feb 2018472,891.6135,889--4,159----
19 TVS Srichakra14 Nov 2017123,155.62,971.137,87114 Feb 2018123,644.943,734--5,863----
20 CRISIL Limited14 Feb 20181082,005.01,831.4216,55603 May 20181081,827.9197,3911,728(19,165)----
21 Gulf Oil Lubricants India14 Feb 2018161,052.5912.816,84223 Mar 201816910.914,57264(2,269)----
22 VST Tillers14 Feb 201892,668.22,284.324,01615 May 201892,963.326,667--2,651----
23 Dilip Buildcon15 May 2018171,204.3998.520,47530 May 201817982.516,700--(3,775)----
24 Suven Life Sciences15 May 2018209190.0171.939,70414 Aug 2018209236.849,476--9,772----
25 UPL Limited15 May 2018227733.3693.6166,47621 May 2018227691.4156,926--(9,550)----
26 UNO Minda Limited15 May 2018271,082.4334.129,22811 Jul 201881351.028,429130(798)----
27 Graphite India14 Aug 2018241,100.6833.526,41627 Sep 201824828.219,876--(6,540)----
28 Kama Holdings14 Aug 2018114,381.13,877.148,19714 Nov 2018115,338.458,71716510,520----
29 Kaveri Seed Company14 Aug 201849622.0541.930,47903 Oct 201849536.026,263--(4,215)----
30 Oracle Financial Services Software14 Aug 2018364,017.93,764.9144,65922 Oct 2018363,764.2135,497--(9,162)----
31 Automotive Axles14 Nov 2018101,251.5995.012,51614 Feb 2019101,144.911,447--(1,068)----
32 IndusInd Bank14 Nov 2018601,513.61,195.190,82214 Feb 2019601,517.591,041--219----
33 Kewal Kiran Clothing14 Nov 20181031,325.01,183.2136,48922 Jan 20191031,181.7121,698--(14,790)----
34 Accelya Solutions India14 Feb 2019176935.4903.7164,64715 May 2019176903.5159,001--(5,646)----
35 Hindustan Construction Company14 Feb 201982812.010.19,89615 May 201982811.49,397--(499)----
36 Vinati Organics14 Feb 201991,623.31,471.514,61127 Feb 201991,469.613,225--(1,387)----
37 Zee Entertainment Enterprises14 Feb 201993433.5350.340,31508 May 201993346.632,226--(8,089)----
38 AU Small Finance Bank15 May 2019149650.8575.396,97114 Feb 20201491,146.1170,74411273,773----
39 Avantel15 May 2019208250.8218.352,17215 Jul 2019208216.945,104416(7,067)----
40 DCM Shriram15 May 201928525.8431.314,72430 Jul 201928427.311,96245(2,761)----
41 Huhtamaki PPL15 May 2019164254.4211.641,71814 Aug 2019164223.736,675--(5,043)----
42 Refex Industries15 May 201918840.031.97,51114 Aug 201918888.916,712--9,200----
43 AU Small Finance Bank14 Aug 201970695.2637.648,66514 Feb 2020701,146.180,215--31,550----
44 Indus Towers14 Aug 2019116248.9228.428,86925 Oct 2019116226.126,228423(2,641)----
45 Kaveri Seed Company14 Aug 201913479.8405.76,23714 Nov 201913527.06,85039613----
46 Pokarna14 Aug 2019193134.3106.825,92214 Nov 2019193170.632,9231167,000----
47 Accelya Solutions India14 Nov 201951,099.0872.95,49614 Feb 202051,033.15,16550(331)----
48 AU Small Finance Bank14 Nov 20195836.1672.84,18114 Feb 202051,146.15,730--1,549----
49 Dhanuka Agritech14 Nov 201962315.6283.819,56914 Feb 202062532.433,002--13,433----
50 Swaraj Engines14 Nov 2019171,129.11,063.519,19727 Nov 2019171,062.518,061--(1,135)----
51 VST Industries14 Nov 201944,560.53,766.718,24412 Mar 202043,759.015,035--(3,209)----
52 Alkyl Amines Chemicals14 Feb 2020231,570.91,238.736,13417 Mar 2020231,234.228,385230(7,750)----
53 Castrol India14 Feb 2020547158.3134.486,57109 Mar 2020547134.373,431--(13,141)----
54 IOL Chemicals and Pharmaceuticals14 Feb 2020222195.9175.743,48320 Mar 2020222174.738,775666(4,708)----
55 VST Industries14 Feb 2020334,336.33,985.2143,11109 Mar 2020333,973.8131,123--(11,987)----
56 Bharat Electronics15 May 2020171667.857.9116,27114 Aug 20201716113.2194,146--77,875----
57 Gujarat Themis Biosyn15 May 202056190.7124.410,68014 Aug 202056180.810,121--(559)----
58 Indian Energy Exchange15 May 2020246160.1116.839,38914 Aug 2020246185.445,604--6,215----
59 Ion Exchange India15 May 2020132702.4517.392,72614 Aug 2020132685.690,490--(2,236)----
60 Tata Elxsi15 May 202043777.9504.733,45114 Aug 2020431,020.743,88471010,433----
61 IOL Chemicals and Pharmaceuticals14 Aug 202037789.3438.329,20515 Feb 202137659.424,395148(4,810)----
62 NIIT Limited14 Aug 20203495101.994.2356,00114 Nov 20203495150.5525,7706,990169,769----
63 IOL Chemicals and Pharmaceuticals14 Nov 2020127681.2585.286,51515 Feb 2021127659.483,735508(2,779)----
64 KNR Constructions14 Nov 2020729256.7120.3187,11703 Feb 20211458140.1204,210--17,094----
65 Refex Industries14 Nov 2020206358.647.7120,90415 Feb 2021206395.2196,3782,06375,474----
66 Shree Renuka Sugars14 Nov 2020691310.08.669,13715 Feb 202169139.263,593--(5,544)----
67 Tips Music14 Nov 2020251276.3220.169,35815 Feb 2021251403.5101,268--31,910----
68 Carysil15 Feb 20212413279.1192.0673,53617 May 20212413323.6780,6481,930107,112----
69 Easy Trip Planners17 May 20214081191.6167.6781,99816 Aug 20214081469.11,914,002--1,132,004----
70 India Pesticides16 Aug 20215848326.5308.81,909,27123 Aug 20215848307.41,797,636--(111,635)----
71 Chambal Fertilisers and Chemicals15 Nov 2021772356.0286.9274,86014 Feb 2022772373.2288,0433,47413,183----
72 Eclerx Services15 Nov 2021712,466.22,247.4175,11829 Nov 2021712,229.6158,283--(16,835)----
73 Swaraj Engines15 Nov 20214871,774.81,642.4864,39029 Nov 20214871,642.1799,644--(64,746)----
74 Thangamayil Jewellery15 Nov 2021324651.5540.1211,10709 Feb 2022324538.7174,5081,620(36,599)----
75 Thyrocare Technologies15 Nov 20212381,182.41,068.4281,43908 Dec 20212381,065.4253,541--(27,898)----
76 Maithan Alloys14 Feb 2022821,136.01,012.093,16124 Feb 2022821,007.282,578--(10,583)----
77 Patanjali Foods14 Feb 20221615832.8769.51,345,10724 Feb 20221615767.41,239,279--(105,828)----
78 Rhi Magnesita India14 Feb 2022484494.0395.8239,12016 May 2022484561.6271,763--32,643----
79 AU Small Finance Bank16 May 20222531,306.2538.5330,50209 Jun 2022506553.5280,034--(50,468)----
80 Bharat Dynamics16 May 2022320689.0399.0220,50216 Aug 2022320852.2272,677--52,175----
81 Ion Exchange India16 May 20224461,733.51,593.5773,21816 Aug 20224461,794.7800,356--27,138----
82 Share India Securities16 May 20221581,275.7982.2201,58116 Aug 20221581,163.4183,799316(17,782)----
83 Shilchar Technologies16 May 2022110618.6304.468,04716 Aug 2022110572.762,991440(5,057)----
84 Apar Industries16 Aug 20222231,240.2862.9276,58114 Nov 20222231,490.0332,237--55,656----
85 AU Small Finance Bank16 Aug 20221073639.9315.8686,62814 Nov 20221073636.2682,521--(4,107)----
86 Aditya Vision16 Aug 20221461,204.0833.1175,80214 Nov 20221461,300.2189,81087614,009----
87 Deepak Fertilisers n Petrochemicals16 Aug 202286908.0677.578,09614 Nov 202286856.673,656774(4,440)----
88 Gujarat Heavy Chemicals16 Aug 2022620619.5552.7384,09714 Nov 2022620593.5367,933--(16,164)----
89 Accelya Solutions India14 Nov 2022671,551.51,182.1103,95814 Feb 2023671,179.379,0082,345(24,949)----
90 Dynacons Systems and Solutions14 Nov 2022120337.9287.340,54614 Feb 2023120449.553,929--13,383----
91 Gujarat Themis Biosyn14 Nov 202263848.7660.853,47003 Feb 202363659.841,565277(11,905)----
92 Hawkins Cookers14 Nov 20221146,451.95,910.3735,59014 Feb 20231146,018.6686,046--(49,544)----
93 Narayana Hrudayalaya14 Nov 2022934763.4699.4713,08715 May 2023934769.2718,361--5,274----
94 AIA Engineering14 Feb 2023742,799.52,515.2207,18015 May 2023742,752.5203,665--(3,515)----
95 Narayana Hrudayalaya14 Feb 2023720725.0692.7522,01615 May 2023720769.2553,769--31,752----
96 Shilchar Technologies14 Feb 2023581,330.9924.077,20015 May 2023581,892.3109,740--32,540----
97 Waaree Renewable Technologies14 Feb 202365596.2502.038,75415 May 202365989.464,305--25,551----
98 WPIL Limited14 Feb 2023111,742.31,195.819,16715 May 2023112,951.832,466--13,299----
99 Bharat Electronics15 May 20237808107.793.4840,61514 Aug 20237808130.51,018,842--178,227----
100 Nucleus Software Exports15 May 2023236627.2546.4148,02214 Aug 2023236995.5234,9032,36086,881----
101 State Bank of India15 May 20231163581.9520.4676,81714 Aug 20231163560.8652,14513,142(24,672)----
102 Ajanta Pharma14 Aug 20233271,738.61,396.0568,57915 Nov 20233271,949.3637,357--68,778----
103 Apar Industries14 Aug 20231274,145.33,101.4526,49915 Nov 20231275,621.5713,853--187,353----
104 Jyothy Laboratories14 Aug 20231040321.7205.5334,60215 Nov 20231040458.6476,896--142,295----
105 Mazagon Dock Shipbuilders14 Aug 2023991,863.11,159.1184,46515 Nov 2023991,998.7197,85267913,386----
106 Motilal Oswal Financial Services14 Aug 2023345943.7750.7325,60915 Nov 20233451,223.9422,186--96,577----
107 Chennai Petroleum Corporation15 Nov 202390639.0530.957,51114 Feb 202490901.081,082--23,571----
108 Equitas Small Finance Bank15 Nov 2023209198.086.9204,93914 Feb 20242091100.3209,602--4,663----
109 Hawkins Cookers15 Nov 20231907,241.86,730.31,376,08014 Feb 20241907,096.61,348,219--(27,861)----
110 State Bank of India15 Nov 20231224584.7555.0715,74414 Feb 20241224743.4909,831--194,086----
111 Shilchar Technologies15 Nov 2023352,687.21,550.794,06114 Feb 2024354,076.7142,670--48,609----
112 Canara Bank14 Feb 20241895566.593.81,073,53015 May 2024947598.8936,218--(137,312)----
113 Castrol India14 Feb 20242650197.1154.1522,36715 May 20242650189.2501,19711,925(21,170)----
114 Neuland Laboratories14 Feb 2024216,674.55,143.8140,17915 May 2024216,240.5131,036--(9,142)----
115 Oracle Financial Services Software14 Feb 2024417,765.94,014.0318,43215 May 2024417,780.4318,9629,840531----
116 Suyog Telematics14 Feb 20245051,251.9947.2632,24815 May 20245051,148.0579,682--(52,566)----
117 Bharat Electronics15 May 20242056232.9185.7478,78814 Aug 20242056293.7603,7871,645124,999----
118 Hindustan Aeronautics15 May 2024734,182.43,205.7305,34214 Aug 2024734,661.7340,270--34,928----
119 Mazagon Dock Shipbuilders15 May 20241072,392.11,959.6255,98014 Aug 20241074,998.5534,786--278,806----
120 Sanofi India15 May 20241718,352.37,618.91,428,37813 Jun 20241717,397.71,264,883--(163,495)----
121 Aditya Vision14 Aug 20241264,517.8357.3569,30027 Aug 20241260386.1486,470--(82,830)----
122 Cholamandalam Financial Holdings14 Aug 20245071,569.51,282.3795,81614 Nov 20245071,573.8797,837--2,021----
123 Grauer n Weil India14 Aug 2024906294.383.8854,72314 Nov 20249062105.1952,3214,53197,598----
124 RattanIndia Enterprises14 Aug 2024660283.674.2551,71803 Oct 2024660274.1489,080--(62,638)----
125 Eclerx Services14 Nov 20242963,339.52,771.5988,59103 Mar 20252962,741.7811,458--(177,133)----
126 Marksans Pharma14 Nov 2024915308.3271.7282,12310 Jan 2025915269.5246,553--(35,570)----
127 NESCO Limited14 Nov 202410781,002.6926.91,080,85714 Feb 20251078926.6998,764--(82,093)----
128 Pix Transmissions14 Nov 20241752,157.11,590.8377,53017 Feb 20251751,562.9273,485--(104,045)----
129 Banco Products India15 May 2025183403.9328.573,91214 Aug 2025183536.998,243--24,331----
130 Hindustan Zinc15 May 20251592440.8394.3701,74414 Aug 20251592426.7679,15915,920(22,585)----
131 Jyoti Resins Adhesives15 May 20257221,294.81,244.3934,93914 Aug 20257221,314.2948,758--13,818----
132 South Indian Bank15 May 20251914127.824.6531,21614 Aug 20251914129.3560,7757,65629,559----
133 Tega Industries15 May 2025571,509.11,306.386,02714 Aug 2025571,851.1105,502--19,475----
134 Accelya Solutions India14 Aug 20258131,396.71,357.61,135,63106 Nov 20258131,356.21,102,51932,520(33,111)----
135 AU Small Finance Bank14 Aug 2025162750.6681.9121,60915 May 2026162990.5160,445--38,836----
136 State Bank of India14 Aug 20251321826.6796.71,091,98214 Nov 20251321967.91,278,402--186,420----
137 Swaraj Engines14 Aug 2025164,001.63,645.864,03225 Nov 2025163,642.158,267--(5,765)----
138 AU Small Finance Bank14 Nov 2025748890.6713.2666,23515 May 2026748990.5740,820--74,584----
139 Canara Bank14 Nov 20252498146.1114.3364,91916 Feb 20262498145.8364,272--(648)----
140 Lupin Limited14 Nov 20253692,055.31,929.0758,48216 Feb 20263692,221.5819,652--61,170----
141 Swaraj Engines14 Nov 2025794,017.53,657.5317,41425 Nov 2025793,651.4288,435--(28,980)----
142 Thyrocare Technologies14 Nov 20252001,564.0425.1312,83128 Nov 2025600439.2263,501--(49,330)----
143 16 Feb 20266051,010.0971.9611,11127 Feb 2026605969.2586,311--------
144 16 Feb 20261001,801.91,674.6180,20802 Mar 20261001,668.5166,8321,700------
145 16 Feb 2026551737.2687.2406,21027 Feb 2026551685.3377,556--------
146 16 Feb 2026872140.8119.9122,82523 Mar 2026872119.5104,215--------
147 16 Feb 20261654285.5259.2472,26430 Mar 20261654256.8424,771--------
148 15 May 20261343183.6160.0246,532--1343--------174.9234,824
149 15 May 20261481,541.41,071.1228,150--148--------1,553.3229,888
150 15 May 20263845,300.04,830.12,035,404--384--------6,063.02,328,192
Portfolio Totals129,7112,464,650 2,792,904

If you have any questions about the icTracker Backtesting, have a comment or otherwise want to provide feedback, please Contact Us.

Standard Disclaimer

  1. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
  2. Past performance, by way of backtesting or by way of actuals, is no guarantee of future returms.
  3. Securities mentioned on this website are for educational purpose only and do not constitute investment advice.
Standard Warning - Investment in securities markets are subject to market risk. Read all the related documents carefully before investing.