The suggested amount of caution surrounding mid-cap stocks is increasing by the day and justifiably so. However, there is an adage, too, that mid-caps have always been about bottom fishing.

If one can pick good stocks, which can transform into large-caps, the returns can be exciting. Here are 10 mid-cap stocks which reported a decent set of earnings in FY16 and continued to do so in the June quarter, or Q1 of FY17.

These had revenue and net profit growth of 11 per cent to 40 per cent in FY16, compared to the eight per cent average revenue and profit growth of companies constituting the S&P BSE Midcap index. Importantly, they are also expected to do well over the next two years.

Click here for details about these 10 stocks

Although the valuations for some of these (Page Industries, Procter & Gamble, Bajaj Finance) companies are high as has been the case historically, it is largely due to their high earnings growth visibility.

Unless these companies falter on growth or external and domestic factors play spoilsport, analysts expect them to do well.

Photograph: Danish Siddiqui/Reuters

[source;rediff.com]