5 midcap stocks that investors should have on their radar on August 3

Check out the midcap companies making headlines in Wednesday’s session.

Among the midcap companies, Persistent Systems, Kansai Nerolac, Indraprastha Gas, Bharat Heavy Electricals Ltd and Vodafone Idea are among the stocks in the news on Wednesday. Let us see why! 

Persistent Systems

Persistent Systems and Monument Bank have entered into a partnership to build a bespoke, cloud-native digital banking platform for lending and deposit services to support Monument’s ongoing operations. Monument Bank is UK’s first neo bank focused on the needs of the 4.8 million ‘mass affluent’. Monument’s target clients are usually pressed for time and often feel underserved and undervalued by other banking providers. Monument’s mission is to help its clients prosper and optimize their time by offering smart, efficient and flexible solutions.

Kansai Nerolac

Kansai Nerolac is one of the gainers from the S&P BSE Midcap index constituents. On Monday, the company reported its results for the quarter ended June 2022. As per the exchange filing, on a sequential basis, the company’s consolidated revenue increased 33.5% to Rs 2051 crore. The PBIDT (ex OI) grew 203.91% to Rs 255 crore. Subsequently, the PAT jumped by a stellar 693% to Rs 152 crore.

Indraprastha Gas Ltd 

The shares of Indraprastha Gas Ltd (IGL) have tanked on the bourses today. This decline in share price comes ahead of the company’s Q1FY23 results, which are set to be announced today. Today, the scrip opened at Rs 358.45 and has touched a high and low of Rs 362.45 and Rs 348.40, respectively. So far 34,064 shares have been traded on the bourses.

Bharat Heavy Electricals Ltd

The shares of Bharat Heavy Electricals Ltd (BHEL) have plunged on the bourses today. The shares of the company are witnessing a huge sell-off, owing to which the share price is moving downwards. This sell-off comes ahead of the company’s Q1FY23 results, which are going to be announced tomorrow, i.e., 04 August 2022.

Vodafone Idea

The share price of Vodafone Idea Ltd has declined on the bourses today. The company’s shares are witnessing a major sell-off on the bourses today. Today, the scrip opened at Rs 9.41 and has touched a high and low of Rs 9.5 and Rs 8.95, respectively. So far 2,24,55,168 shares have been traded on the bourses.