Five midcap stocks to keep on your radar in today’s session!

Check out the midcap companies making headlines in the morning trade session.

Among the Midcaps companies, Angel One, Motilal Oswal Financial Services, MNGL, KEC International and IIFL Finance are among the stocks to watch out for. Let us see why!

Angel One: The company has released its key business parameters for the year ended on March 31, 2022. The client base of the company stood at 9.21 million which saw a growth of 123.7% compared to FY 2021 driven by client acquisition of 5.29 million (gross) in FY 2022. Angel One’s Average Daily Turnover(ADTO) stood at Rs 6474 billion which was 226.3% higher than last year. At 9.50 am Wednesday, the stock was trading at Rs 1684.85 with a gain of 1.5% or 24.85.

Motilal Oswal Financial Services: US International Development Finance Corporation (DFC) has committed a USD 50 million long term loan (For 15 years) to a material subsidiary of the company i.e. Motilal Oswal Home Finance Limited (MOHFL) via External Commercial Borrowing (ECB) route, out of which MOHFL has now received 1st tranche of USD 10 Million from DFC. DFC has committed this funding under its 2X Women’s Initiative, as the funding will be utilized to support women borrowers in owning their first “Pucca House”, advancing gender equity in India. At market opening the shares of Motilal Oswal were trading at Rs 916.85 up 0.82% or Rs 7.5 per share.

Mahanagar Gas: MNGL has increased the MRP of Compressed Natural Gas (CNG) by Rs 7/kg and Domestic Piped Natural Gas(PNG) by Rs 5/SCM in and around Mumbai, effective from midnight of April 5, 2022. At 9:45, on Wednesday, shares of MNGL were trading at Rs 843.50up 1.79% or Rs 14.85.

KEC International: A global infrastructure EPC major, KEC International, has secured new orders of Rs 945 crore across its various businesses. The company in its exchange filing informed that it has secured orders for T&D and Cabling projects in India, SAARC, Middle East, and Americas; an order for setting up of power supply system, including receiving substation, high voltage cabling and associated civil works, from Delhi Metro Rail Corporation (DMRC)and orders for various types of cables in India and overseas. With these orders, the total order inflow for FY22 stands at an all-time high of Rs. 17,202 crore, a growth of 45% on YoY basis. The stock was trading with a gain of 1.5% at Rs 408.05 at 9:45 am.

IIFL Finance: The company has bought back USD 50 million worth of overseas bonds at par, funded by a corresponding loan of the same amount from a global bank, which will reduce its cost of funds by approximately 225 basis points on this transaction. The buyback was done under a modified Dutch auction process, which is a reverse book building mechanism. All accepted bids were settled at a uniform price of USD 1000 per face value on March 30, 2022. After this buyback, bonds of USD 323.7 million (of the total USD 400 million raised ) remain outstanding. At 9.45 am, the shares of IIFL Finance were trading at Rs 300.70 down by 0.68% or Rs 2.05.