There is impressive momentum in the midcap stocks, and this index has surged beyond the 38,000 mark to reach an all-time high. An expert has handpicked 3 excellent midcap stocks for investors in this rally, projecting potential returns of up to 40%. Discover the provided targets for these selections.
There is pressure on the stock market in the final trading session of the week. The Sensex is witnessing a decline of around 300 points. Nifty has slipped below the crucial level of 19,500. Amidst the rally in midcap stocks, there has been an observed pressure of profit booking over the past two days. NIFTY Midcap 100 is trading at around 37,900 points, marking a drop of nearly 100 points. Independent market expert Ambareesh Baliga has selected 3 excellent midcap stocks for investors. These stocks are recommended for short-term, positional, and long-term investments. Let’s delve into the complete details.
Tatva Chintan Share Price Target: For the long term, the expert has chosen Tatva Chintan Limited. The share of this specialty chemical company is currently trading at around ₹1690 (Tatva Chintan share). Its 52-week high is ₹2650 and the low is ₹1600. The company is expected to perform well for FY2024-25. The estimated EPS (Earnings Per Share) is ₹67, while it is currently around ₹18. The expert has provided a target of ₹2345 for the next 9-12 months, which is approximately 40% higher than the current level.
Tatva Chintan Q1 Results:
Recently, the company released its results for the quarter ending in June. A growth of 29.3% was recorded in net sales, totaling INR 114.3 crore. The net profit stood at INR 9.5 crore. EBITDA reached INR 22.36 crore, marking a robust increase of 31.2%. The EPS (Earnings Per Share) experienced a decline, reaching INR 4.3.
Sundram Fasteners Share Price Target:
For positional investors, the expert has chosen Sundram Fasteners. The stock is currently trading at around INR 1205. Its 52-week high and low are INR 1275 and INR 800, respectively. The company specializes in critical high-precision components. Its products find application in sectors such as automotive, infrastructure, windmill, and aviation. Apart from India, its customers hail from countries including China, Germany, the United States, the UK, Italy, France, and Brazil. The company’s margins are expected to improve with growth in EV (electric vehicle) demand. The target for the next 3-6 months is set at INR 1435, representing a potential increase of approximately 20% from the current level.
Harsha Engineers Share Price Target:
For short-term investors, the expert recommends Harsha Engineers. The share closed at INR 420. This company is engaged in core engineering activities, specifically in manufacturing precision bearings. It produces brass cages, steel cages, and polymer cages. The target for the next 1-3 months is set at INR 475.
(Disclaimer: The investment advice provided here is from a brokerage house/expert. These are not the views of amolbonde.com. Prior to investing, it is recommended to consult with your advisor.)