Since late January, several illiquid shares - "Razguliay", "36.6", OMZ - have risen sharply in price. Does this mean that investors are returning to the second-tier stocks? And what to buy to make?

On Friday, February 13, shares of the pharmacy network "36.6", listed on the Moscow Stock Exchange, soared by nearly 60%. There are no obvious reasons for this rapid growth market that day was not, and analysts have not been able to explain what has led to an increase in prices. Since the beginning of the year on the MICEX was already several similar mysterious stories: OMZ preferred shares rose by 300%, paper "Razgulyai" - 161%, RBC - 71%. All of these companies are united belonging to the so-called second tier.

This is an informal name illiquid securities, a large amount of which is difficult to buy or sell at the current price. In the Russian market to them usually referred including shares of index MICEX Small Cap, calculated by the Moscow stock exchange. It consists of 50 stocks that are not included in the main index of the MICEX. Analysts attributed the growth in the second tier general revival of the Russian stock market. From the beginning, the ruble MICEX stock index (MICEX) grew by 30%.

"This is a common situation when after the blue chips with some delay starts to catch up, and the second echelon" - explains the head of analytical department of the Criminal Code "Russian Standard" Sergei sovereign. However, some papers from the index MICEX SC either not increased, or even dropped in price.

Should I buy a second-tier paper?

The second tier is very segmented, and sometimes even the professionals it is very difficult to understand, warns portfolio manager MC "Alfa Capital" Edward Harin. Every company - is a different story, for which it is necessary to monitor closely.

At the same time, if you are willing to take risks, the investment in small capitalization companies can bring many tens of percent a day, said the expert investment company "ITinvest" Pavel Deryabin.

"The last three years of the second-tier quotes steadily falling. The price of these securities already includes all negative. That prices have fallen at least another 10% is going to happen something absolutely incredible. In this case, any most neutral news, even the simple promise of management to do something, to speak out publicly, may raise quotes by tens of percent, "- says Deryabin.

How to recognize the long-term paper?

When selecting stocks, experts advise to look at the following parameters:

Stability of the company

"There should be no signals that the issuer can be a problem," - emphasizes the sovereign. In a crisis, better to buy shares of companies focused on import substitution and a mass audience, analysts advise. "For these issuers reduced the level of competition, and they can more freely to dictate prices in the market. Accordingly, the marginality of their business can significantly increase, which will give a positive reassessment of the value of their shares, "- says Harin.

As an example, he cites the company "Russian Aquaculture" (the new name of the company "Russian Sea") and "Cherkizovo". Particular attention should be paid to those enterprises that the government included in the list of sistemobrazuyuschih. It is virtually eliminates the risk of bankruptcy, which is usually borne by the investor, buying second-tier paper, explains the analyst THEIR "Finam" Anton forty. "This is especially important for small companies, such as" Razgulyai "and TMK" - he says.

Trading volume

If certain stocks trading volumes grow above the average daily values, analysts advise to buy them. "The probability that the price will be higher in the near future, very high," - says forty. As an example, he cites the shares pharmacy network "36.6". After growth for one day at 60% they could buy even at the close - still it was possible to sell the shares at a higher price. Another tip - buy the paper, which has greatly increased, if the volume of trade in these quotes are not reduced and continue to grow.

When should I be cautious?

There are sectors, from which experts advise to stay away. For example, the electric power industry, which, despite the rise in recent days, there is a problem the industry in Russia. Worn funds, large investment programs, low profits or losses, sometimes incomprehensible situation with tariffs - among the main problems of the industry. "It's an old story, is primarily due to the uncertainty in the regulation of tariff policy and high capital costs," - reminiscent of Harin "Alfa Capital".

The banking sector experts now also advise treated with caution. According to Suverov, in times of crisis increases the risk of loan defaults. Therefore, banks have to increase reserves, which hurts their profits.