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Brokerage Axis Securities maintains a positive outlook on Indian equities for the longer term. Here are its top picks from mid and smallcap packs for November month.

Mangalore Refinery And Petrochemicals Ltd., incorporated in the year 1988, is a Mid Cap company (having a market cap of Rs 9665.58 Crore) operating in Gas & Petroleum sector.

While domestic investors have reposed faith in the market even when the market was going through a bad phase, FIIs are now once again showing signs of buying. In the last five trading sessions, foreign investors have bought Indian equities worth over Rs 12,610 crore.

The company reported a total revenue of Rs 331.7 in the July-September 2022 period, which was 37% higher than the total revenue of Rs 242 crore it reported in the same period the previous year.

“It looks very much that regardless of where the pace of the next few rate hikes are going to be, we are in this very high terminal rate environment for a long time. On our part, we have the Fed going 4.75% to 5% by Q1 of next year and the remaining on hold until the end of 2023.”

The core fee-based income declined by 32%. Gross slippages stood at ~3%, while elevated, they moderated on a QoQ basis. Provisioning costs also remained elevated. High overall stress book relative to peers, the brokerage said.

"The numbers for most relevant sectors have been great. For example, auto, BFSI and IT have seen better-than-expected numbers while metal stocks are likely to see downgrades. I think, as more structural sectors (and with higher weight in index) like the former perform better on earnings vs later (like metals, mining, and oil & gas), it will be overall positive for earnings growth."

Global Health is one of the largest private multi-speciality tertiary care providers operating in the North and East regions of India. It has a network of four hospitals in Gurugram, Indore, Ranchi, Patna and Lucknow.

Crypto venture capital company Digital Currency Group has promoted Chief Operating Officer Mark Murphy to president amid a restructuring in which some 13% of its staff departed, Bloomberg reported.

For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 1537.60 Crore, up 3.98 % from last quarter Total Income of Rs 1478.71 Crore and up 7.57 % from last year same quarter Total Income of Rs 1429.34 Crore. Company reported net profit after tax of Rs 129.40 Crore in latest quarter.