Overnight Digest: Top 5 mid and small-cap stocks to watch out for November 13, 2023

As the trading day concluded, the Nifty50 exhibited a positive trajectory, opening at 19351.85 and reaching a high of 19451.3. Despite a brief dip to a low of 19329.40, the index closed at 19425.35, marking an incremental gain of 30.05 points or 0.15% from the previous day’s close. Notable performers among the top gainers included NTPC, ONGC, Tata Consumer, Tech Mahindra, and Ultratech Cement, while Hero Motocorp, Mahindra and Mahindra, HCL Tech, Titan, and Hindalco faced some downward pressure. 

The market exhibited a balanced play, with 30 advancing stocks and 20 in decline. Sectoral dynamics played a crucial role, with Nifty Metal and Nifty Oil and Gas emerging as notable gainers, contrasting with the decline observed in Nifty Media and Nifty Auto. In the broader market, the Nifty Smallcap 100 closed up by 0.47%, and the Nifty Midcap 100 closed up by 0.48%, adding a layer of diversity to the day’s overall market performance. 

As we reflect on today’s market movements, the interplay of sectoral dynamics and individual stock performances underscores the nuanced nature of market forces. Investors will undoubtedly continue to closely monitor these trends, weighing opportunities against risks in this ever-evolving financial landscape. 

Here are the Top 5 Mid and Small-cap Stocks to Watch for Monday, 13 November 2023 :    

1. NESCO Ltd (Current Market Price: Rs 756.45): Having reached its 52-week high at Rs 770 today, the stock experienced an extraordinary surge in trading volume, surpassing 52 times its average. This substantial increase positions it as a potential candidate for inclusion in the watchlist. 
2. Jindal Photo Ltd (Current Market Price: Rs 683.75): Notably, the stock demonstrated a 10% upswing today, hitting its upper circuit. With an impressive 3-year Compound Annual Growth Rate (CAGR) of 273% and a 3-year Return on Equity (ROE) of 26%, it merits consideration for tomorrow’s watchlist. 
3. Tide Water Oil Co (I) Ltd (Current Market Price: Rs 1187.75): With the impending announcement of its Q2FY2024 financial results tomorrow, this stock, which has delivered returns of 16% over the past year, deserves attention. The company boasts a 14% Trailing Twelve Months (TTM) sales growth and a commendable ROE of 16%. 
4. MBL Infrastructure Ltd (Current Market Price: Rs 51.35): As company prepares to unveil its Q2FY2024 results on November 11, the stock showcased a robust 4.9% surge today, indicative of substantial buying interest. Consider adding it to your watchlist. 
5. Nitta Gelatin India Ltd (Current Market Price: Rs 792.5): In a recent press release, the Board of Directors, during its meeting on November 10, 2023, reviewed the expansion plans for the Collagen Peptide plant. The decision has been made to increase the capacity by 550 MT per year, in addition to the ongoing debottlenecking activities that will contribute an extra 150 MT per year. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary