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Jan 17, 2007, 08.04 PM IST
So far the claim made by experts that 2007 will be the year of the midcaps is coming out true. But how long will it last is yet to be seen.
It was another flat trading day for the markets due to a lack of buying interest in scrips. However banking stocks made smart gains. The Sensex closed up 16.61 points or 0.12% at 14131.34, while the Nifty ended 4.05 points down or 0.10% at 4076.45.
The mid-cap index was up 0.62% today. The top gainers in this space were CMC , 3i Infotech , NIIT Tech, HFCL , Rolta , IFCI , Hikal , United Phos , Divis Labs , Bilcare , Hind Motors , IBP Company , Voltas , Triveni Engg and Texmaco, which gained more than 5%.
So far the claim made by experts that 2007 will be the year of the mid-caps is coming out true. But how long will it remain is yet to be seen.
So how do experts view the mid-caps today?
Jagdish Malkani, Member of NSE, thinks that January will be the month of mid-caps. He says, "The info-tech mid-caps have taken the breath away for a long time; they had done nothing and now they are playing catch up. I think this month and till the Budget we are going to have a good mid-cap run. In IT services space the top five to six are way ahead of the rest of the pack." But the midcaps have moved too fast for his liking.
Sanjay Jain of Taj Capital too is very positive on mid-caps. According to him, "Mid-cap technology is something that we hold a very positive view on. We have seen the follow-up action coming in the mid-cap technology stocks. I think with the frontline stocks already having run ahead of the results, there is a value play still in the mid-caps and as the investors find the Group A stocks expensive, they are looking for secondline plays in Group B and also in the the smallcaps."
Which are the stocks that the experts would pick? For Malkani the main pick is Ultratech, besides which, he likes Tech Mahindra too as he feels that it has taken one's breath away but he advises caution. Apart from that Infotech Enterprises, NIIT Tech and Sonata, are all his favourite picks and in IT he feels HCL Tech and TCS are very good.
Jain says, "I would generally be positive on NIIT Technology and Mphasis-BFL . In the mid-cap technology stocks, certain stocks might be some strategic plays in the offering and that may also have a positive effect on the valuations going forward."
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