Overnight Digest: Top 5 mid and small-cap stocks to watch out for February 2, 2024

On Thursday, major stock indices showed a positive trend as the Sensex slightly decreased by 0.15% to close at 71,645.30, and the Nifty dipped by 0.13% closing at 21,697.45.

Gainers for the day included Nifty PSU Bank, Nifty Auto, Nifty Energy, and Nifty Bank, while Nifty Media, Nifty Metal, Nifty Realty, and Nifty Pharma faced losses. The surge in PSU banks was attributed to potential treasury gains following a decline in bond yields.

Top-performing stocks comprised Maruti, Cipla, and Power Grid, while Ultratech Cement, L&T, and Grasim faced losses within the Nifty 50.

In the broader market, Nifty Midcap experienced a modest decline of 0.56%, while Nifty Smallcap saw a rise of 0.63%.

Here is the list of the Top 5 Mid and Small-cap stocks to watch

Quess Corp Ltd (Rs 508)

Quess Corp Ltd is set to release its Q3FY2024 results on February 2. Thus, it is advisable to add this stock to the watchlist. It is India’s leading business services provider, leveraging its extensive domain knowledge and future-ready digital platforms to drive client productivity through outsourced solutions.

Pfizer Ltd (Rs 4,578.20)

Pfizer Ltd is engaged in manufacturing, marketing, trading and export of pharmaceutical products. The stock experienced a significant surge in trading volume today, surpassing its weekly average by almost 20 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

GE Power India Ltd (Rs 296.70)

GE Power India Ltd is engaged in the business of engineering, procurement & construction (EPC) of key equipment for thermal and hydropower plants. Today, the shares of the bank were locked in an upper circuit of 20%. The stock has delivered 30.42% year to date showcasing strong bullish momentum. Thus, keep this stock on your watchlist.

B.L. Kashyap & Sons Ltd (Rs 74.85)

Today the shares of B.L. Kashyap & Sons Ltd achieved a new 52-week high of Rs 77.65. It is an EPC company engaged in the business of Construction of Buildings High-Rise Residential and Commercial Complexes, IT Parks, Institutional Buildings, etc. Hence, keep this stock on watchlist.

Divgi Torqtransfer System (Rs 948.15)

Divgi Torqtransfer System is one of the leading players supplying transfer case systems to automotive OEMs and the largest supplier of transfer case systems to passenger vehicle manufacturers in India. The company is set to release its Q3FY2024 results on February 2. Thus, add this stock to the 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.