Top 10 Mid-cap Stocks in India (2024)

Last Updated on Jan 19, 2024 by Harshit Singh

Listed companies are classified into three major categories based on their market capitalisation – large-cap, mid-cap and small-cap. Companies valued between Rs. 5,000 cr. and Rs. 20,000 cr. are called mid-cap companies and their associated stocks are known as mid-cap stocks. In this blog, we will delve deeper into understanding the advantages and risks of investing in mid-cap stocks and also identify the top 10 mid-cap stocks in 2024 using different parameters.

10 Best mid-cap stocks in 2024 based on 1Y return

Stock Name Sub-Sector Market Cap (Rs. in cr.) Close Price (Rs.) PE Ratio 1Y Return (%)
Suzlon Energy Ltd Renewable Energy Equipment & Services 55,617.30 42.90 19.52 337.76
BSE Ltd Stock Exchanges & Ratings 30,960.57 2,297.70 140.30 336.12
ITI Ltd Telecom Equipments 35,230.92 347.05 -97.90 229.90
Rail Vikas Nigam Ltd Specialized Finance 50,123.88 243.60 35.28 211.71
Mazagon Dock Shipbuilders Ltd Shipbuilding 48,185.76 2,319.55 43.06 204.42
Kalyan Jewellers India Ltd Precious Metals, Jewellery & Watches 37,303.37 361.95 86.13 204.16
Mangalore Refinery and Petrochemicals Ltd Oil & Gas – Refining & Marketing 30,004.49 177.60 11.30 199.49
SJVN Ltd Renewable Energy 39,848.12 100.60 29.31 195.01
Prestige Estates Projects Ltd Real Estate 51,667.06 1,302.10 54.86 194.76
NLC India Ltd Metals – Diversified 32,135.30 227.00 23.02 175.15

Note: The information is dated 18th January 2024. The above mid-cap share list is derived using Tickertape’s Stock Screener based on the following parameters:

Market cap – Midcap

Sorted by 1Y Return – Highest to Lowest

10 Mid-cap stocks with highest dividend yield

Stock Name Sub-Sector Market Cap (Rs. in cr.) Close Price (Rs.) PE Ratio Dividend Yield (%) Dividend Per Share (Rs.)
Embassy Office Parks REIT Real Estate 32,216.06 354.78 63.67 6.39 21.71
Oil India Ltd Oil & Gas – Exploration & Production 41,353.79 395.45 4.74 5.24 20.00
Oracle Financial Services Software Ltd Software Services 44,064.54 6,545.50 24.40 4.41 225.00
Petronet LNG Ltd Oil & Gas – Storage & Transportation 34,912.50 240.20 10.50 4.30 10.00
Indraprastha Gas Ltd Gas Distribution 30,299.53 438.00 18.48 3.00 13.00
IRB Infrastructure Developers Ltd Construction & Engineering 27,477.45 46.90 38.16 2.92 1.33
Housing and Urban Development Corporation Ltd Specialized Finance 27,576.17 137.70 16.21 2.79 3.85
Torrent Power Ltd Power Transmission & Distribution 48,153.00 997.10 22.74 2.60 26.00
Bank of Maharashtra Ltd Public Banks 35,300.65 51.95 13.55 2.48 1.30
3M India Ltd Stationery 38,690.33 34,092.75 85.78 2.47 850.00

Note: The information is dated 18th January 2024. The above list of high dividend mid-cap stocks is derived using Tickertape’s Stock Screener based on the following parameters:

Market cap – Midcap

Sorted by Dividend Yield – Highest to Lowest

List of 10 mid-cap companies with positive net income (Q)

Stock Name Sub-Sector Market Cap (Rs. in cr.) Close Price (Rs.) PE Ratio Net Income (Q)
Hindustan Petroleum Corp Ltd Oil & Gas – Refining & Marketing 63,707.01 454.60 -9.13 5,826.96
Indian Bank Public Banks 59,468.46 443.55 10.67 2,007.28
General Insurance Corporation of India Insurance 54,289.91 305.70 7.86 1,688.95
Bank of India Ltd Public Banks 60,436.67 134.35 15.75 1,488.18
Jindal Steel And Power Ltd Iron & Steel 72,573.05 719.70 22.87 1,387.82
Steel Authority of India Ltd Iron & Steel 46,716.24 113.05 21.46 1,305.59
Indus Towers Ltd Telecom Infrastructure 56,922.51 215.95 27.90 1,294.70
LIC Housing Finance Ltd Home Financing 31,642.37 576.15 10.95 1,193.48
NLC India Ltd Metals – Diversified 32,135.30 227.00 23.02 1,084.70
Muthoot Finance Ltd Consumer Finance 56,886.74 1,380.30 15.75 1,059.62

Note: The information is dated 18th January 2024. The above list of top mid-cap stocks in India is derived using Tickertape’s Stock Screener based on the following parameters:

Market cap – Midcap

Sorted by Net Income (Q) – Highest to Lowest

Features of a mid-cap stock

  • Mid-cap stocks have immense growth potential, which can offer the investors good returns.
  • Mid-cap stocks are less affected by market fluctuations than small-cap stocks. However, they are considered to be highly risky in comparison with large-cap stocks.
  • Mid-cap companies lie in a broad spectrum. Some companies can be in the development stage, which is stable but offers minimal returns. While some mid-cap companies can be in a growing phase and offer high returns.


Advantages of mid-cap stocks

  • Mid-cap stocks are flexible, accommodating both low and high-risk investment strategies. They provide investors with a versatile avenue to enhance portfolio growth and stability.
  • Mid-cap companies have higher growth potential and chances of raising funds through credit than small-cap companies. These companies also expand aggressively, which can translate into higher return on investment.
  • By staying invested in a mid-cap company with strong fundamentals and financials, you can generate good returns in the long term.
  • Mid-cap stocks strike a balance by presenting a moderate level of risk. They offer superior returns compared to large-cap stocks while maintaining a higher degree of stability than small-cap stocks.

Disadvantages of midcap stocks 

  • Large-cap companies are considered stable due to their proven experience and track record. In the case of mid-cap companies, the stability is not proven as they are in the growth phase. Hence, an investor needs to analyse the company’s management and financial history. 
  • Mid-cap stocks are highly volatile when compared to large-cap stocks. Though the probability of providing good returns is high, there are equal chances of generating negative returns. 
  • Low-ranking mid-cap companies are highly prone to value-trap. When a company operates with limited cash flow and low profits, it is considered a value trap. In simple terms, the company can be in a stagnant position. Such mid-cap companies may not even trade.

Who should invest in midcap stocks?

Though mid-cap stocks may appear as a balance in terms of risk and returns, compared to small-cap and large-cap, these stocks may not suit everyone. Investors who can consider investing in mid-cap stocks are as follows:

  • Investors looking for long-term investment options can consider mid-cap stocks as they help gain favourable returns in the long term. 
  • Investors looking for capital appreciation can consider mid-cap stocks. 
  • Investors with a moderate risk appetite can consider investing in mid-cap stocks. 

Conclusion

Mid-cap stocks, positioned between larger and smaller companies, present a strong potential for growth and demonstrate resilience in the face of market fluctuations. For investors aiming for long-term returns with a moderate risk appetite, considering mid-cap stocks is a prudent choice. However, before making any investments, it’s essential to conduct thorough research using Tickertape Stock Screener

This powerful tool can help you filter stocks based on various parameters and provides comprehensive data on each stock, allowing you to make informed investment decisions. So why not give it a try today and take your investment portfolio to the next level?

FAQs

What is a mid-cap stock in India?

As the name suggests, mid-cap stocks are the stocks in between large-cap and small-cap. Mid-cap companies have a market value between Rs. 5,000 cr. to Rs. 20,000 cr. In the stock exchanges, these companies are ranked from 101 – 250.

How to get the list of best mid cap IT stocks?

You can get the list of midcap IT stocks on Tickertape by following the steps below: 
– Login to Tickertape 
– Open the Stock Screener 
– Select ‘Nifty Midcap 100’ under the ‘Stock Universe’
– Select ‘Informational Technology’ in ‘Sector’

What are the 100 best mid cap stocks companies? 

You can get the list of the 100 best mid-cap stocks on Tickertape. 
– Login to Tickertape
– Open the Stock Screener
– Select ‘Nifty Midcap 100’ under the ‘Stock Universe’

How to identify the best mid-cap IT stock for long-term investment?

– Login to Tickertape
– Open the Stock Screener
– Select ‘Nifty Midcap 100’ under the ‘Stock Universe’
– Select ‘Informational Technology’ in ‘Sector’
– Select any filter that aligns with your criteria

Harshit Singh
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