Mirae Asset Sharekhan identifies six mid and smallcap stocks for 2025 including HAL and IPCA Laboratories

Mirae Asset Sharekhan has identified six mid and smallcap stocks for 2025, including Hindustan Aeronautics Ltd (HAL) and IPCA Laboratories. The Indian equity market showed strong gains in 2024, but momentum slowed in the last quarter. HAL is noted for its strong order book in the aerospace and defense sector, while IPCA Laboratories is recognized for its growth in pharmaceuticals. Both companies are rated as buys, with expected returns on equity of 21.8% and 13.0%, respectively, in FY25. Other recommended stocks include L&T Technology Services, Persistent Systems, Mastek, and Wonderla Holidays, all rated as buys with projected returns on equity ranging from 11.7% to 25.6% in FY25.