Overnight Digest: Top 5 Mid and Small-Cap Stocks to Watch Out for April 5

On Thursday, the primary stock market indices concluded the trading session with gains. The Sensex, a crucial index, rose moderately by 0.47% to close at 74,227.64 points, while the Nifty, another significant index, also increased by 0.36% to end at 22,514.65 points. The total market capitalization of companies listed on the Bombay Stock Exchange (BSE) reached nearly Rs 400 lakh crore.

In terms of sectors, the IT, banking, Financial Services, and Automotive sectors saw notable gains, while the PSU Banks, Energy, FMCG, and pharmaceutical sectors performed relatively poorly.

Among individual stocks, HDFC Bank, Eicher Motors, and Tech Mahindra were among the top performers, whereas ONGC, Shriram Finance, and Adani Ports were among the biggest losers in the Nifty 50 index.

In the broader market, the mid-cap index saw a marginal increase of 0.01%, while the small-cap index surged by 0.45%. Notably, the mid-cap index surpassed the 50,000 mark for the first time and closed higher for the ninth consecutive day.

Here is the list of the top 5 mid and small-cap stocks to watch

KEC International Ltd (Rs 769.75)

KEC International Ltd is primarily engaged in Engineering, Procurement, and Construction business (EPC) relating to infrastructure related products, projects, and systems and related activities for power transmission, distribution, railway, and other EPC businesses. The shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by almost 55 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

Gensol Engineering Ltd (Rs 995.65)

Gensol Engineering Ltd is engaged in the business of Solar consulting & EPC. The shares of the company were locked in an upper circuit of 5% for the day indicating increased buyer interest. Hence add this stock to the watchlist.

SMS Pharmaceuticals Ltd (Rs 197.4)

Today, the shares of SMS Pharmaceuticals Ltd reached a new 52-week high price of Rs 206.20, signalling bullish momentum. The company is a diversified and integrated pharmaceutical company with interests in Active Pharmaceutical Ingredients (API) and Intermediates Thus, add this stock to the watchlist.

Praveg Ltd (Rs 1,020)

Praveg Ltd, specializing in Exhibition and Event Management, plans to raise funds via equity shares and convertible warrants. This strategic move aims to boost financial capacity for expansion across sectors. Given this development keep the stock on your watchlist

ESAF Small Finance Bank Ltd (Rs 62.35)

ESAF Small Finance Bank primarily focuses on lending to rural and semi-urban clients. In Q4 updates, total deposits surged by 35.47% YoY to Rs. 19,868 Crore, with CASA deposits rising by 43.47% YoY to Rs. 4,502 Crore. Gross advances increased by 33.72% YoY to Rs. 18,878 Crore. GNPA% and NNPA% as on March 31, 2024, were 5.29% and 2.65% respectively. The bank’s network includes 753 branches and 614 ATMs. It operationalised the Authorised Dealer Category 1 Licence for Foreign Exchange operations. It’s advisable to keep this stock on the watchlist.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.