 "Web Special: Ten stocks to buy from Midcap space")
The broader markets are performing in line with benchmark indices. The BSE mid-cap index has advanced 0.55% or 6,459 and the small-cap index is up 0.7% or 41 points at 6,009.
The overall breadth of the BSE mid-cap index is positive as 168 stocks are advancing while 75 are declining.
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Polaris Financial Technology has surged over 14% to Rs 137 on reports that many software majors have evinced interest in acquiring the company's software services business.
RPG Life Sciences were up nearly 8% at Rs 70.55 in early trades after the company late Thursday announced that it has sold part of its land at Navi Mumbai.
Shipping Corporation of India were up over 3% at Rs 36.40 in early trades after the company said it has signed a deal with state-owned GAIL (India) for transportation of liquid natural gas (LNG).
Other notable gainers are Mahindra & Mahindra Financial Services, ALSTOM India, Indian Infotech and Software, Rallis India, Gujarat Fluorochemicals, Thermax, Page Industries and Pfizer, all gaining between 3-6%.
According to Gaurav Ratnaparkhi, technical analyst, Sharekhan, “M&M Fin has formed a bullish triangular pattern & is on the verge of a breakout. As long as the swing low of 235 holds the stock can move up till 300 from short to medium term perspective. L&T FH is forming an Inverted H&S – a bullish pattern. Unless 77 breaks it can target 90 – 92”.
Adds AK Prabhakar, Senior Vice President - Equity Research, Anand Rathi “There is a major valuation gap between Midcap and the largecap segment. Once Nifty braches 6,357 mark, Midcap segment will outperform and one could start accumulating value stocks. Among NBFCs, LIC Housing Fin, M&M Finance and L&T Finance can give good returns and are the top contenders that are likely to get the banking license.
Some monsoon special, agro based stocks that look good at current levels from long term perspective are Bayer Crop, GSFC, Rallis India, Coromandal International, Tata Coffee and Bajaj Corp.
Ravi Shenoy, Asst Vice President (Midcap Research), Motilal Oswal Securities recommends Swaraj Engines from 2-3 months perceptive. From growth perspective, he is bullish on Exide Inds, Time Technoplast and Sundram Fasteners.