Neutral valuations on Indian midcaps: Credit Suisse

Credit Suisse has launched a new Indian midcap product, says valuations, as a group, are in "neutral territory."

* Initiates coverage of tea producer McLeod Russel India and travel company Cox and Kings with "outperform" ratings, citing growth, cash flows, and valuations.

* Other buy ideas in midcap space include: Ashok Leyland, Gujarat Pipavav Port, Hexaware Technologies, ING Vysya Bank, Max India and MindTree.
* Sell ideas include Lanco Infratech and Petronet LNG.

* BSE's Midcap Index has gained 21.6 per cent in 2012 against BSE Sensex 10.8 per cent gain as of Thursday's close.

Copyright Thomson Reuters 2012