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Broader markets outperformed by 8 midcaps

Broader markets outperformed by 8 midcaps

India’s stock markets are up 34% from their March lows. The BSE Midcap index rose 31% during the period. The activity of midcaps is likely to be stock-specific but if the market momentum continues, the midcaps have a high chance of rising. ET examines some shares from the midcap space which are speculated to outperform going ahead.

 

IIFL Securities

 

UPL

Target Price: Rs.680

The research head at IIFL Securities, Abhimanyu Sofat said that the earnings were good in the last quarter and a net debt reduction was also observed by the company. And, adding the stock trades at just 9 times FY21 estimates, they have not seen a big impact of the lockdown.

 

CCL Products

Target Price:  Rs. 315

The large capacity of the company in Vietnam has not been hit by Covid-19. Demand for coffee continues to grow and improvement is expected soon.

 

Centrum Broking

 

PI Industries

Target Price: Rs. 1,840

Centrum expects steady y improvement in margins over FY21-22 due to a lively order book of $1.5 billion, strong execution capabilities, and an estimate of a normal monsoon.

 

Gujarat Gas

Target Price: Rs. 315

Due to the 11-12 new district development over the past few years, the 7 new areas won in round 9 and 10, and  CGL is expected to retain that position as the largest city gas distribution player in the country for the next 5-7 years.

 

Motilal Oswal Financial

 

Tata Consumer

Target Price:  Rs.431

Tata Group has a clear motive of leveraging its brand and participating in the Rs 30-trillion India consumption story, which resulted in the merger of Tata Chemicals’ Consumer Business with Tata Global Beverage—creating Tata Consumer.

 

L&T Infotech

Target Price: Rs. 2,060

The company is likely to be a key beneficiary of the accelerated digital adoption. L&T could be one of the few outliners reporting earnings growth in FY21.

 

Edelweiss

 

SRF

Target Price: Rs. 4,000*

SRF remains well-positioned to capture structural growth in fluorochemical applications due to its strong R&D capabilities.

 

Astral Poly Technik

Target Price: Rs. 1,100

The underlying growth remains strong and the consolidation sector would receive enough opportunities to grow faster than the industry and increase its market share after the end of the lockdown.

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