Mid-Cap Indian Stocks to Watch – Buy or Sell?

As an investor, it’s crucial to keep an eye on the market trends and the news surrounding the stocks in your portfolio. Here’s a look at some mid-cap Indian stocks that have been in the news recently, and our take on whether they’re a buy or a sell based on the sentiment derived from the news.

Buy

1. Cummins India: The Company has fixed Wednesday, July 26, 2023, as the Record Date to determine the Members eligibility to receive the Final Dividend as recommended by the Board of Directors. This positive news could potentially lead to an increase in the stock price.
2. Hindustan Aeronautics: Over the past five years, the shares of Hindustan Aeronautics Limited (HAL) have shown a fourfold jump. Prices of the public sector aerospace and defence company’s stock shares are currently trading at Rs 3904.85 against Rs 800 in the year 2018. This positive trend suggests a strong buy.
3. Indraprastha Gas: ICICI Securities is bullish on Indraprastha Gas recommended buy rating on the stock with a target price of Rs 615 in its research report dated July 24, 2023. The positive sentiment from a reputable financial institution makes this stock a potential buy.

Sell

1. Biocon: Biocon shares were down 2 percent after the company received six observations from the US Food and Drug Administration (USFDA). This negative news could potentially impact the stock price negatively.
2. Cadila Healthcare: Cadila Healthcare shares slumped around 4 per cent as the company in its first quarter results mentioned that it expects high single-digit price erosion in the US business for the next two quarters. This negative forecast could potentially lead to a decrease in the stock price.
3. Havells India: Electrical equipment maker Havells India Ltd reported a 38% fall in quarterly profit, missing analysts’ estimates widely, dented by a fall in margins and higher expenses. This negative news could potentially impact the stock price negatively.
4. JSW Energy: JSW Energy has announced a 68% drop in its net profit for Q4 2023. The decline has been attributed to lower margins and increased operational expenses. This negative news could potentially impact the stock price negatively.

Please note that while the news can provide some insight into how a stock might perform, it’s essential to do your own research and consider other factors such as the company’s financial health, the state of the industry it’s in, and the overall economic environment before making an investment decision.