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Who’s Fueling the Midcap Momentum? Ola, Paytm, MphasiS Break the Pattern

Swarnadwip Nath Published Jul 28, 2025, 07:00 PM Updated Sep 18, 2026, 02:54 AM

In a session marked by selective optimism and sectoral resilience, Ola Electric, MphasiS, and Paytm emerged as standout performers on the Nifty Midcap 150 index. Despite mixed earnings and ongoing structural challenges, these stocks posted notable gains, reflecting investor confidence in longterm...

Market Snapshot and Key Movers:

As of midday trading on July 28, 2025, the following stocks led the midcap rally:

Ola Electric surged 4.8 percent
MphasiS gained 3.95 percent
Paytm rose 2.98 percent
COFORGE and Global Health also posted gains of 2.11 percent and 2.04 percent respectively

Ola Electric: Losses Persist, Sentiment Improves

Ola Electric’s rally comes despite a widening net loss and declining quarterly revenue.

Financial Overview

Quarterly revenue for June 2025 stood at Rs 828 crore, down from Rs 1,644 crore in June 2024
Net loss deepened to Rs 428 crore from Rs 347 crore yearonyear
Annual revenue for FY25 was Rs 4,514 crore, a decline from Rs 5,009.83 crore in FY24
Net loss for the year widened to Rs 2,276 crore from Rs 1,584.40 crore

Investor Sentiment

Despite red ink, Ola’s book value per share improved from Rs 4.88 to Rs 11.66
Debttoequity ratio remains moderate at 0.59
Investors appear to be betting on longterm EV adoption and asset value recovery

MphasiS: Steady Growth and Dividend Cheer

MphasiS continues to deliver consistent financial performance, making it a reliable midcap pick.

Quarterly Performance

Revenue for June 2025 rose to Rs 3,732.49 crore from Rs 3,422.46 crore
Net profit increased to Rs 441.70 crore from Rs 404.51 crore
EPS for the quarter stood at Rs 23.22

Annual Metrics

FY25 revenue reached Rs 14,229.99 crore, up from Rs 13,278.52 crore
Net profit climbed to Rs 1,702.14 crore from Rs 1,554.82 crore
Final dividend of Rs 57 per share declared, continuing a strong payout tradition

Financial Strength

P/E ratio stands at 27.82, P/B ratio at 4.94
Debttoequity ratio remains low at 0.12, reinforcing fiscal discipline

Paytm: Narrowing Losses, Renewed Optimism

Paytm’s stock movement reflects cautious optimism as the company shows signs of financial turnaround.

Quarterly Snapshot

Revenue for June 2025 rose to Rs 1,917.50 crore from Rs 1,501.60 crore
Net profit of Rs 122.10 crore recorded, reversing a loss of Rs 838.80 crore in the same quarter last year

Annual Trends

FY25 revenue declined to Rs 6,900.40 crore from Rs 9,977.80 crore
Net loss narrowed to Rs 665.70 crore from Rs 1,384.70 crore
EPS improved, and debttoequity ratio remains at zero

Market Interpretation

Investors are encouraged by improved cost management and operational efficiency
The company’s strategic focus on profitability is beginning to reflect in quarterly numbers

Conclusion:

The midcap rally led by Ola Electric, MphasiS, and Paytm underscores the market’s appetite for growth stories with longterm potential. While Ola and Paytm continue to navigate financial volatility, their strategic pivots and improving metrics are drawing investor interest. MphasiS, with its consistent performance and shareholder rewards, remains a pillar of stability in the midcap space. As earnings season unfolds, these stocks will be closely watched for signs of sustained momentum.

Sources: Moneycontrol, NiftyTrader, Economic Times, Financial Express, BSE India, company investor disclosures

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