The Nifty Midcap 100, a barometer of the midcap companies listed on NSE, has given a return of -7.66% so far in 2022 YTD and -10.10% in the last year six months. In the bear market of 2022, many midcap stocks are trading at significant discounts compared to their previous highs.
Here is the list of a few of the top midcap companies that are trading at a big discount of over from their 52-week highs in the Indian stock market.
IndiaMART
IndiaMART InterMESH Ltd, founded in 1996, is a publically listed midcap Indian e-commerce company that provides B2B and customer-to-customer sales services via its web portal. Being India’s first and largest B2B digital marketplace, it focuses to connect Indian manufacturers with buyers.
IndiaMart’s stock is currently trading at the share price of Rs 4,268. The stock has declined over -35.12% so far in 2022 YTD and plunged by -55.99% from its 52-week high of Rs 9,700.
On 2nd May, Axis Direct has given a “Buy” Call on IndiaMart with a Target Price of Rs 6,800.
Dr Lal PathLabs Ltd
Dr. Lal PathLabs Limited is a midcap public company and India’s leading consumer healthcare brand in diagnostic services. It offers a broad range of tests on blood, urine, and other human body viscera. The company has 200 laboratories and diagnostic centers with approximately 1,500 collection centers across India.
Dr Lal Pathlabs stock is currently trading at the share price of Rs 2,053. The stock has declined over -46.78% so far in 2022 YTD and plunged by -51.61% from its 52-week high of Rs 4,243.
Zensar Technologies Ltd
Zensar Technologies Limited is an Indian publicly listed mid cap company that operates in the digital solutions and technology industry. It is a subsidiary of RPG Group, and the company’s chairman is Harsh Goenka. Zensar operates in two segments, Application Management Service and Infrastructure management service, and has offices in India, the USA, the UK, Europe, and Africa.
Zensar Technologies stock is currently trading at the share price of Rs 302. The stock has declined over -43.37% so far in 2022 YTD and plunged by -48.48% from its 52-week high of Rs 587.
Brokerages are bullish on Zensar Technologies with IDBI Capital giving a buy call with a target price of Rs 410, ICICI Direct has set the target price of Rs 365, and HDFC Securities given a long term buy a call with the Target of Rs 440.
CAMS
Computer Age Management Services Limited or CAMS, incorporated in 1988, is a mutual fund transfer agency to Indian asset management companies. It provides distributor, and asset management companies (AMC) services. With an approx market share of 70% based on Mutual Funds AAUM, CAMS is India’s largest registrar and transfer agent. It also has a 40% market share as an insurance repository.
CAMS stock is currently trading at the share price of Rs 2,171 with the 52-week low price of Rs 2,141. The stock has declined over -20.81% so far in 2022 YTD and plunged by -46.56% from its 52-week high.
ICICI Direct has given a ‘BUY’ call for a Target price of Rs 2,760 on CAMS shares, whereas HDFC Securities has set a target price of Rs 2,885.
ICICI Securities
ICICI Securities Limited is a subsidiary of ICICI Bank Ltd. The company began its operation in May 1995 and is listed on Indian stock exchanges. ISec is engaged in the business of broking, distribution of financial products, merchant banking, and advisory services.
ICICI Securities stock is currently trading at the share price of Rs 489.90. The stock has declined by -45.30% from its 52-week high of Rs 895.
Hatsun Agro Products Ltd
Hatsun Agro Product Ltd, founded in 1970, is a publically listed midcap company that operates in the dairy industry. It is the largest private-sector company in the Dairy sector manufacturing and marketing Milk and Milk products, Ice-Cream, etc, and is known for its popular brand Arun Icecreams.
Hatsun Agro Products stock is currently trading at the share price of Rs 878. The stock has declined over -30.28% so far in 2022 YTD and plunged by -42.70% from its 52-week high.
Happiest Minds Technologies
Happiest Minds Technologies, founded in 2011, is a publically listed midcap company that works in the IT sector in India. It operates in disruptive technologies such as artificial intelligence, blockchain, cloud, digital process automation, internet of things, robotics, augmented reality, etc. The company has operations in the U.S, UK, Canada, Australia, and the Middle East.
Happiest Minds stock is currently trading at the share price of Rs 944. The stock has declined over -28.38% so far in 2022 YTD and plunged by -40.25% from its 52-week high of Rs 1,580.
Disclaimer
The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
