A couple of mid-cap stocks, which investors can nibble at for smart gains on a short term are Mumbai based Lupin Laboratories Limited and Delhi based Surya Roshni Limited, at current prices.

Transnational pharmaceutical company Lupin has over the years emerged as the fifth largest and fastest growing pharmaceutical in the US and the only Asian company to achieve this distinction. With market capitalization growing 11 times in the last 7 years and foreign institutional investors (FII) raising their stake in the company ,Lupin is amongst the country’s top five pharma companies. This research oriented company has spent as high as 7.5% of net sales on R&D activities last year. For the current year, the performance so far has been highly encouraging and the bottom line growth should be at least 40%. The Compounded Annual Growth Rate (CAGR) in revenue for the last couple of years is 20% and net profit is 16%. Compared to this, the current year results are going to be way ahead of the trend. On the expected earning per share (EPS) of Rs 30, at the current market price of Rs 600 and a price earnings(PE) ratio of 20, Lupin seems to be set for a dream run of at least 20% gain in the next six months. Surya is the second largest lighting company of India and a diversified one at that. It has bagged several orders recently,thus increasing the group turnover and export profits in FY 13. With the promoters stake at 64% and a book value of Rs 110, the stock currently quoting at Rs 75 is an attractive buy with a price target of Rs 100 in six months.