Nykaa, Voltas, Titagarh Rail and More: HSBC Recommends Top Midcap Stocks With Upto 55 pc Upside Potential
Nykaa, Voltas, Titagarh Rail among others from multiple sectors have been recommended by global broking firm HSBC as the top midcap stocks that can yield upto 55 returns this year on the back of strong valuations and earnings outlook. The analysts at the brokerage, however, preferred bluechip stocks but maintained midcap opportunities in the sell-off. The brokerage also pointed out that the recent declines in mid-cap and small-cap stocks stem from their exceptional performance which was witnessed last year.
The brokerage stated that a more significant correction of 20% to 30% in small and midcap sectors, akin to that observed in 2018, is improbable at present. This is attributed to a robust domestic economy, a reasonably priced broader market, and increased inflows from Systematic Investment Plans (SIPs). “Our outlook remains positive for the overall market… The likelihood of a substantial downturn in midcaps from their current levels appears slim, with investors likely to seize such opportunities to invest in midcaps,” the company asserted.
Top Midcap Stocks to BUY Recommended by HSBC
| Stock | Sector | Target Price (Rs) | Upside Potential (%) |
| Fsn E-Commerce Ventures (Nykaa) | Retail | 240 | 47.06 |
| Equitas Small Finance Bank | Private Bank | 143 | 54.18 |
| Phoenix Mills | Real Estate | 3130 | 22.72% |
| Voltas | Consumer Durables | 1250 | 16.96 |
| Titagarh Rail Systems | Capital Goods | 1200 | 35.46 |
| Ipca Laboratories | Pharma | 1335 | 11.75 |
| Kalyan Jewellers | Retail | 420 | 9.09 |
Meanwhile, in the 2023-24 financial year, Sensex jumped 14,659.83 points or 24.85 per cent, while the Nifty soared 4,967.15 points or 28.61 per cent. Small and midcap space was the top performing in the fiscal year 2024.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of TN Network.)
