Gautam Chhaochharia, Head of mid-cap research at UBS India said they like Bajaj Electrical, Redington and Exide in the midcap space.
Chhaochharia told CNBC-TV18, “The midcap carnage is a reflection of two things. One is the local liquidity environment for retail public still remains tight and the interest levels remain low. Secondly, the bigger holder of midcaps is beyond retail investors, domestic mutual funds and domestic insurance companies.”
“They continue to see outflows. That has led to this squeeze finally happening. Thankfully, the stocks we cover, bulk of those didn’t fall or get impacted by this carnage in any significant way. From our coverage universe, we like Bajaj Electrical, Redington and Exide.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.