5 midcap stocks that investors should have on their radar on July 6!

Midcap stocks in focus

by 5paisa Research Team Last Updated: 2022-07-06T11:36:53+05:30

Check out the midcap companies making headlines in the morning trade session.    

Among the midcap companies, Kansai Nerolac, Tejas Networks, Welspun Corp, Dalmia Bharat, and Blue Dart Express, are among the stocks in the news on Wednesday. Let us see why!    

Kansai Nerolac: The company is in the news because of the macro factors having a positive effect on the paints industry. Global oil prices witnessed a one-day decline of 9% on Tuesday. It was one of the highest drops since March 2022. Since oil forms a crucial input for manufacturing paint, a drop in input prices would improve margins for paint companies like Nerolac. At 10:40 am on Wednesday, the stock was trading at Rs 382.55, up 4% or Rs 14.60 per share.   

Tejas Networks: Another stock that has been in the news lately is Tejas Networks. The company has announced that as of 4th July 2022, it has acquired 60,81,946 equity shares or a stake of 62.65% of Saankhya Labs Pvt Ltd at an average price of Rs 454.19 per share amounting to Rs 276.24 crore. The company is in process of acquiring the remaining stake in due course of time. At 10:40 am on Wednesday, the stock was trading at Rs 450.00, almost flat. 

Welspun Corp: This iron & steel pipeline manufacturer was in the news because of the global demand scenario. China is gradually coming out of its omicron-hit economy and is planning to infuse $75 billion in capital into the infrastructure sector. This is expected to stir the shunted global demand for commodities and may result in some rally for commodity stocks. For Q4 FY22, the net sales were up by 3.45% YoY but the profitability declined by 37.13%. At the time of writing, shares of the company were trading at Rs 214.35, up by 3%.    

Dalmia Bharat: Although the cement sector as a whole is facing margin pressures with the rising input costs, investors have a positive outlook for this midcap cement stock for the long-term if not short term. The expansion plans of the company are progressing well. The company has a stronghold in eastern and southern parts of India. With rising demand due to the government’s focus on infrastructure and growing real estate space, the company might do well in the H2 FY23 period. At 10:40 am on Wednesday, the stock was trading at Rs 1,341, up 3.12% or Rs 40.60 per share.    

Blue Dart Express: Blue Dart Express is trending today with a positive outlook for the first quarter of FY23. The company filed its annual report on 4th July. At the time of writing, the stock was trading at Rs 34.80, slightly down by 0.3%. In Q4FY22, revenue grew by 20.41% YoY to Rs 1165.91 crore from Rs 968.28 crore in Q4FY21. On a sequential basis, the top line was down by 7.08%. PBIDT (Ex OI) was reported at Rs 291.8 crore, up by 17.51% as compared to the year-ago period and the corresponding margin was reported at 25.03%, contracting by 62 basis points YoY. PAT was reported at Rs 136.97 crore, up by 52.19% YoY. At the time of writing, the stock was trading at Rs 7973, up 2%. 


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