Five midcap stocks that investors should have on their radar today!
Check out the midcap companies making headlines in the morning trade session.
Among the midcap companies, Bharat Dynamics, Fine Organics Ltd, Rajesh Exports, Bombay Burmah Trading Corp and Swan Energy, are among the stocks in the news on Wednesday. Let us see why!
Bharat Dynamics: Bharat Dynamics is flying today just like the missiles as the stock has rallied over 6% on the back of receipt of a big order. The defence company has signed a contract with the Ministry of Defence for the supply of ASTRA MK-1 beyond visual range (BVR) air to air missiles and associate equipment to the Indian Air Force and Indian Navy. The contract value is around Rs 2,971 crore. At 10:30 am on Wednesday, the stock was trading at Rs 831.10, up by Rs 47.35 per share.
Fine Organics: The stock has hit a fresh 52-week high today as it posted healthy growth in financials. In the opening minutes of the market, the stock witnessed a strong spurt in volumes which has led it to create a new 52-week high of Rs 5,094.15. In Q4FY22, revenue grew by 91.05% YoY to Rs 616.87 crore from Rs 322.88 crore in Q4FY21. On a sequential basis, the top-line was up by 33.11%. PBIDT (Ex OI) was reported at Rs 159.67 crore, up by 229.97% YoY and margin was reported at 25.88%, expanding by 1089 basis points YoY. PAT was reported at Rs 122.18 crore, up by 286.66% YoY. At 10:30 am on Wednesday, the stock was trading at Rs 5,045.00, up by nearly 3.6% or Rs 175 per share.
Rajesh Exports: Rajesh Exports is one of the largest gold refiners in the world. The company processes about 35% of gold produced in the world. This midcap stock is in the buzz because of its results and dividend. The board has recommended a 100% dividend or FY22. For Q4, the revenues were up by 33% YoY to Rs 85,806 crore but the PAT declined by 52.7% to Rs 138.5 crore. The management said that the company is confident in achieving strong results in the upcoming quarters. At the time of writing, shares of the company were trading at Rs 549.65, up by 1.8%, or Rs 9.75 per share.
Swan Energy: The stock is in the buzz for its latest quarterly results. In Q4FY22, revenue grew by 194.26% YoY to Rs 312.31 crore from Rs 106.13 crore in Q4FY21. On a sequential basis, the top-line was up by 350.76%. PBIDT (Ex OI) was reported at Rs 23.99 crore, down by 33.93% as compared to the year-ago period and the corresponding margin was reported at 7.68%, contracting by 2653 basis points YoY. PAT was reported at Rs -41.52 crore, up by 29.91% from Rs -59.24 crore in the same quarter of the previous fiscal year. The PAT margin stood at -13.3% in Q4FY22 expanding from -55.82% in Q4FY21. At 10:30 am on Wednesday, the stock was trading almost flat at Rs 283.30.
Bombay Burmah Trading Corp: The company is one of the largest and leading agriculture companies in India. It has been in the news for its exception Q4 results. It posted an increase of 299% in Q4 consolidated net profit of Rs 20.90 crore on a YoY basis. The topline was up by 160% YoY to Rs 145.17 crore. The standalone net profit for the year ended March 31, 2022, was Rs 335.15 crore, up 61.2% against the same day last year. At the time of writing, the stock was trading at Rs 1000, up 0.3% or Rs 3 per share.
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