Mid-cap stocks, representing companies with market capitalizations between $2 billion and $10 billion, often strike a balance between the stability of large-cap stocks and the growth potential of small-cap stocks. In 2024, several mid-cap companies have garnered attention for their robust performance and promising outlooks. Here are eight mid-cap stocks that have received high analyst ratings and are projected to deliver substantial returns: Upstox – Online Stock and Share Trading
- Cochin Shipyard Ltd
- Market Capitalization: ₹40,803 crore Upstox – Online Stock and Share Trading
- Year-to-Date (YTD) Return: 146% Upstox – Online Stock and Share Trading
- Overview: Cochin Shipyard, India’s largest shipbuilding and maintenance facility, has experienced a significant surge in its stock price, driven by a healthy order book and new contract acquisitions. The company’s recent order from a European client for a Hybrid Service Operation Vessel underscores its expanding global footprint. Upstox – Online Stock and Share Trading
- Puravankara Ltd
- Market Capitalization: ₹10,200 crore Barron’s+4Upstox – Online Stock and Share Trading+4Barron’s+4
- YTD Return: 141% Upstox – Online Stock and Share Trading+1Angel One+1
- Overview: This Bengaluru-based real estate developer achieved its highest annual sales value in FY24, marking a 90% increase compared to the previous fiscal year. The company’s expansion into the Delhi NCR market and record sales have contributed to its impressive stock performance. Upstox – Online Stock and Share Trading
- Force Motors
- Market Capitalization: ₹11,730 crore Upstox – Online Stock and Share Trading
- YTD Return: 158%
- Overview: Known for manufacturing commercial and utility vehicles, Force Motors reported a 35% revenue growth in the March quarter. The announcement of a ₹20 per share dividend further boosted investor confidence.
Upstox – Online Stock and Share Trading
- Transformers and Rectifiers (India) Ltd
- Market Capitalization: ₹8,900 crore
- YTD Return: 166%
- Overview: Specializing in power transformers, the company reported a 333% jump in consolidated net profit in the last quarter. The growing demand for electricity in India and recent supply order wins have propelled its stock price.
Upstox – Online Stock and Share Trading
- IFCI Ltd
- Market Capitalization: ₹16,570 crore
- YTD Return: 110%
- Overview: This financial sector firm turned profitable in FY24, reporting a consolidated profit after tax of ₹157.32 crore for the March quarter. A government infusion of ₹500 crore has further strengthened its financial position.
Upstox – Online Stock and Share Trading
- Lloyds Metals and Energy Ltd
- Market Capitalization: ₹39,711.85 crore Angel One
- 5-Year Compound Annual Growth Rate (CAGR): 132.31% Angel One
- Overview: Specializing in sponge iron production, power generation, and mining operations, Lloyds Metals has expanded its iron ore mining capacity significantly, positioning itself as one of India’s largest iron ore merchant miners. Angel One
- Dixon Technologies (India) Ltd
- Market Capitalization: ₹77,953.02 crore Angel One
- 5-Year CAGR: 91.61% Angel One
- Overview: As an Electronic Manufacturing Services company, Dixon Technologies operates across various electronic sectors, including consumer electronics and mobile phones. A joint venture to design and manufacture wireless audio solutions in India highlights its innovative approach. Angel One
- Jindal Stainless Ltd
- Market Capitalization: ₹62,823.94 crore Angel One
- 5-Year CAGR: 83.72% Angel One
- Overview: A leading producer of stainless steel flat products, Jindal Stainless caters to industries like automobiles and construction. The company’s robust financial performance underscores its market leadership. Angel One
Conclusion
These mid-cap stocks have demonstrated strong performance metrics and have been recognized by analysts for their growth potential. Investors seeking to diversify their portfolios may consider these companies, keeping in mind the inherent risks associated with stock market investments.
