New Delhi, Dec. 22 -- TCI Finance, a small-cap stock, has been making notable gains in the Indian stock market, with its recent sharp rally drawing the attention of Dalal Street investors searching for the reasons behind the stellar move.

The NBFC stock was locked in another 10% upper circuit limit in Monday's session on December 22, reaching Rs.19.50 apiece, marking its fourth straight session of hitting the maximum limit.

After locking in a 20% circuit limit on December 17 and December 18, the exchanges revised the limit downward for the stock to 10%. However, it continued with the same momentum, thereafter, resulting in a 74% rally in just four trading sessions.

The recent rally has pushed month-to-date returns to 75%, and if the st...