Overnight Digest: Top 5 mid and small-cap stocks to watch out for December 29, 2023

During Thursday’s trading session, the main stock indices ended the day positively, reaching new all-time highs. The Sensex increased by 0.52%, setting a new record at 72,484.35, and the Nifty rose by 0.57%, hitting its all-time high at 21,801.45. The broader market also performed well, with the Nifty Midcap rising by 0.56%, and the Nifty Smallcap gaining 0.79%.

Market volatility, measured by India VIX, decreased by 2.65%, indicating a more stable market environment.

Leading sectors like Nifty Energy, Nifty FMCG, Nifty Pharma, and Nifty PSU Bank experienced gains, while Nifty IT was the only major sector that didn’t perform as well.

Notable gainers included Coal India, M&M, and Hero Motocorp, whereas Adani Enterprises, Adani Ports, and L&T were among the top losers in the Nifty 50.

The broader markets also closed positively, with the Nifty Small Cap index up by 0.79%, and the Midcap index rising by 0.56%.

Here are the top 5 mid and small-cap stocks to watch on Friday:

Equitas Small Finance Bank Ltd (CMP Rs 106.77)

Equitas Small Finance Bank Ltd announced today through a press release that it has received communication from RBI regarding the approval granted to ICICI AMC. The approval allows ICICI AMC to acquire an “aggregate holding” of up to 9.95% of the paid-up equity capital or voting rights in ESFBL. This development positions the stock as a potential candidate for inclusion in your watchlist.

Dishman Carbogen Amcis Ltd (CMP Rs 177)

Dishman Carbogen Amcis Ltd specializes in Contract Research and Manufacturing Services (CRAMS), producing and supplying marketable molecules like speciality chemicals, vitamins & chemicals, and disinfectants. Today, the stock witnessed a substantial increase in trading volume, exceeding its weekly average by over 17 times. Noteworthy is the stock’s closure for the day with a remarkable 12% gain. With these favourable indicators, it would be prudent to contemplate the inclusion of this stock in your watchlist.

National Fertilizer Ltd (CMP Rs 91.5)

National Fertilizers Limited operates in the manufacturing and promotion of Neem Coated Urea, Bio-Fertilizers (both solid and liquid), and various other related industrial products. The company is also actively involved in the trade of Imported and Domestic Fertilizers, Compost, Seeds, and other agricultural products. Notably, the stock recently achieved a new 52-week high, reaching Rs 94.25. This noteworthy milestone indicates that it could be a compelling candidate for consideration in your watchlist.

Gensol Engineering Ltd (CMP Rs 806.60)

The shares of Gensol Engineering Ltd, a company specializing in Solar consulting & EPC, experienced a significant surge today, hitting the upper circuit of 5%. This suggests a notable increase in buyer interest. Impressively, the stock has yielded a solid return of 7.55% over the last five days. It is advisable to consider adding this stock to your watchlist for potential opportunities.

Marine Electricals India Ltd (CMP Rs 96.80)

Marine Electricals (India) Limited has secured an order worth Rs. 31.85 crores (excluding GST), inclusive of a 5-year Annual Maintenance Contract (AMC) valued at 6 Crores. The Ministry of Defence has placed the order for the procurement of 6 Integrated Bridge Systems (IBS) designated for TEG and Shivalik Classes of Ships. Given this development, it is advisable to consider adding the stock to your watchlist.

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 sources on the internet and is subject to changes. Please consult an expert before making related decisions.