These Small and Mid-Cap stocks will be on radar for October 10, 2023

The Nifty opened lower at 19,539 and attempted a recovery during the initial hour of trading, reaching the day’s high of 19,589. However, it failed to surpass the 19,600 level. The Nifty lost its recovered gains and remained volatile for the rest of the session with a negative bias before closing at 19,512, down 141 points. It formed a bearish candlestick pattern with long upper and minor lower shadows on the daily chart. This pattern indicates a lower top formation for the stock price with a selling opportunity on rallies.

The Nifty Midcap 100 and Nifty Smallcap 100 also fell victim to the turmoil, closing down by 1.34% and 1.78%, respectively.

Top 4 mid-cap & small-cap stocks likely to be in focus on October 10, 2023:

1. Vascon Engineers LTD (CMP – 73.8)

    Vascon Engineers Limited has received a Letter of Intent amounting to Rs. 262.19 crore from BRIDGE AND ROOF CO. INDIA LTD (A Government of India Enterprise) for Planning, Designing, Construction, IT (Networking), and Maintenance of Government Medical College at District Kanker, Chhattisgarh, under Chhattisgarh Medical Services Corporation Ltd. (Government of Chhattisgarh). The work has been awarded on an ‘EPC Basis,’ and it must be completed within 24 months from the date of commencement. None of the Promoter/Promoter Group has any interest in the aforementioned work.

2. Dilip Buildcon (CMP – 308.75)

   Dilip Buildcon Limited has received a letter of acceptance (LOA) and signed the agreement for the new Project “Planning, Design, and Construction of Dewas III and IV Dams, Tehsil-Gogunda, Udaipur District in Rajasthan, India, on an Engineering, Procurement, and Construction (E.P.C.) single Responsibility turn-key basis, costing Rs. 396 crore, including 10 years O & M.

3. Care Ratings Ltd (CMP – 942)

   The care ratings ltd stock is trading with rising volumes and has formed a bullish engulfing candle on daily charts. The company has posted decent financial performance for Q1FY24, with revenues at Rs. 77.9 crore, up 26%. PBT and PAT came in at Rs. 26.4 crore (up 25%) and Rs. 18.4 crore (up 30%), respectively.

4. Maharashtra Seamless LTD (CMP – 620.5)

   The Maharashtra seamless ltd stock is trading at an all-time high with rising volumes. The company is performing well in terms of profitability. The company’s revenue growth was driven by strong demand for its products, particularly its seamless pipes and tubes. Maharashtra Seamless is a leading manufacturer of seamless pipes and tubes in India, and its products are used in a wide range of industries, including oil and gas, petrochemicals, power, and automotive.

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