There are stocks and there are businesses. We, at Nirmal Bang Institutional Equities, have tried very hard over the past four years to identify good, solid businesses in the mid-cap space for you, whilst trying to be value additive / contrarian on the large-caps, wherever pertinent. In this brief piece today, we look at some of the stocks wherein our conviction level is high on the upside and downside, our reasons for the same and therein looking to provide an opportunity for a switch trade in certain sectors, wherever applicable. The stocks that we have recommended to buy into in this report, especially the mid-caps, have been secular buys for us and continue to be and similarly for the sells, be in on the large-caps or the mid-caps. We think, at the current prices, the companies that have a buy recommendation in this report offer good prospects of incremental cash flows, strong return ratio profiles, good governance and strong earnings visibility. The rationale for the sell calls in this piece would be the exact converse of the previous stated statement. You can also find on the last page on this report, a list of our top mid-cap stock (business) ideas that we continue to recommend at this price and at every dip as they fulfill the criteria mentioned earlier in the paragraph.