Overnight Digest: These Small and Mid-Cap stocks will be on radar for October 6, 2023

Overview after market close October 5, 2023
The Nifty 50 index opened with a gap-up at 19521.85 with day low of 19487.3 and high of 19576.95. 
On daily timeframe Nifty made a small bodied bullish candle with wicks on both sides indicating current indecision in the market. It is often seen as a neutral pattern, but it can also be a sign of a possible trend reversal. 
Nifty closed around 109.65 points (0.56 per cent) higher from yesterday’s close.
The S&P Global India Services PMI Business Activity Index rose from 60.1 in August to 61.0 in September, signalling a sharp upturn in output that was one of the strongest in over 13 years. Investors are looking forward to the RBI Interest rate decision scheduled for October 6, 2023 and also the forthcoming Q2FY24 results. 

The advanced to decline ratio for the day was around 2.33 indicating bullish sentiment in the market for the day. Bajaj Auto, L&T, M&M, Titan, TCS were among the Top Gainers meanwhile PowerGrid, Cipla, Hindalco, NTPC, Nestle India were the top losers. 
Nifty Midcap50 and Nifty Smallcap50 were constantly under pressure throughout the day closing mildly positive to flat  

Here are the top 5 Mid-Small cap stocks to keep on the radar for tomorrow 

K&R Rail Engine (CMP – Rs. 822.25)

Company has signed an MOU with M/s. Muktinath Darshan Private Limited on 04/10/2023 for execution of Cable Car Project in Gandaki province of Nepal valued at Rs. 4161 crore (500 Million US Dollars). The total length of the Cable Car Project is about 84.32 Kilometres. 
Company’s Revenue grew by 15.38 per cent YOY to Rs. 340.73 crore. Profit after tax grew by 16.21 per cent YOY to Rs. 15.21 crore. Order book stood at Rs. 1,520 crore at the end of the quarter.

Axiscades (CMP – Rs. 522..65)

Tech veteran, former MD & CEO of Wipro, Abidali Neemuchwala has been appointed Chairman of the Board and Non-Executive Director at Axiscades Company is an established provider of engineering design and manufacturing software solutions. 
Axiscades reported strong quarterly results for the quarter ended June 30, 2023, with revenue and profit growing by 16.49 per cent and 5.86 per cent year-on-year, respectively. 

The company’s consolidated revenue stood at Rs. 214.63 crore, while its profit after tax was Rs. 5.71 crore. 

Arrow Greentech (CMP – Rs. 381.75)

The stock is currently trading near its 52 weeks high, Company reported strong financial results for the quarter ended June 30, 2023, with consolidated revenue at Rs. 43.86 crore, up from Rs. 11.97 crore (up 265.2 per cent YOY). PAT came in at Rs. 9.34 crore, from Rs. 0.96 crore YOY (up 934.3 per cent). This stellar performance was attributed to strong demand for the company’s electric vehicle components, such as battery management systems, motor controllers, and power converters. The company also benefited from the government’s focus on promoting electric vehicles in India. 

Infibeam Avenue LTD (CMP – Rs. 19.7) 

Stock saw a spurt in Volume by more than 4.93 times on October 5, 2023. Infibeam Avenues Limited (IAL) smashed its revenue and profit estimates for the quarter ended June 30, 2023, posting a whopping 77.47 per cent and 40.34 per cent growth year-on-year, respectively. 

IAL’s top-line stood at a solid Rs. 742.36 crore, up from Rs. 422.01 crore in the corresponding quarter last year, while its bottom-line surged to Rs. 32.00 crore from Rs. 22.81 crore. 

Vascon engineers LTD (CMP – Rs. 69.9)

Stock recently broke 10-year high levels and is expected to give a good upcoming quarter. 

Vason Engineering, a leading provider of engineering and construction services in India, has reported stellar financial results for the quarter ended June 30, 2023, with revenue and profit surging by 30.24 per cent and 42.56 per cent year-on-year, respectively. 

The company’s consolidated revenue stood at Rs. 1,542.36 crore, up from Rs. 1,184.82 crore in the corresponding quarter last year. The standalone revenue grew by 31.43 per cent to Rs. 1,472.09 crore. 

The company’s profit after tax (PAT) jumped to Rs. 102.34 crore from Rs. 72.23 crore in the corresponding quarter last year. The standalone PAT grew by 41.80per cent to Rs. 98.52 crore.  

Disclaimer: Above information is just for educational purposes. Investments in the securities market are subject to market risks. Please advice a professional before investing.