Analysts said investors need to be selective while picking midcap stocks following the sharp rally. A couple of them suggested a few midcap stocks that investors can keep an eye on in 2024.
JM Financial said Tata Power is tapping high-margin group captive renewables opportunities, exiting low-value businesses, venturing into brownfield pumped hydro storage, and expanding transmission business.
Promoters held 46.86 per cent stake in the company as of 30-Jun-2023, while FII and DII ownership stood at 10.01 per cent and 3.97 per cent, respectively.