Overnight Digest: Top 5 mid and small-cap stocks to watch out for February 9, 2024

Market closes at day’s low with financials remain a drag RBI’s status quo policy & healthy growth estimates fail to boost mkt sentiment Sensex closed substantially lower by 1% concluding at 71,428.43 level, while Nifty also significantly plunged by 0.97% and closed at 21,717.95 level.

Four of 5 top 5 Nifty contributors to the downside are private banks

Nifty PSU Bank, Nifty Media, Nifty Energy and Nifty IT were among the top gainers while Nifty FMCG, Nifty Financial Services, Nifty Bank and Nifty Auto were among the top losers. FMCG stocks under pressure following mixed Q3, Nifty FMCG down 2%. all constituents of Nifty Bank end in the red

SBI, Power Grid and BPCL were among the top gainers while Britannia, ITC and Kotak Bank were among the top losing stocks from the Nifty 50. RIL along with SBI & TCS lend support to Nifty Except PSU Banks

Similarly, the Broader market also experienced a decline as Nifty Midcap closed marginally lower by 0.05%, while Nifty Smallcap plummeted by 0.39%.

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

1. Supriya Lifescience Ltd (Rs 351.35)
   Supriya Lifescience Ltd is engaged in the manufacturing of Active pharmaceutical ingredients (APIs). The stock experienced a significant surge in trading volume today, surpassing its weekly average by almost 22 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.
2. Ethos Ltd (Rs 2,623.65)
   Ethos Ltd was incorporated on November 5, 2007 and promoted by KDDL Limited. Ethos is India’s largest luxury and premium watch retail player. The stock reached a new 52-week high price of Rs 2,660.00. The stock has delivered 25% returns YTD. Hence it is a potential contender for watchlist
3. GE T&D Ltd (Rs 810.75)
   GE T&D is the listed entity of GE’s Grid Solutions business in India. It has been in the power transmission and distribution business for more than 100 years and provides a versatile range of solutions for connecting and evacuating power from generation sources onto the grid. Today, the shares of the company were locked in an upper circuit of 10% showcasing strong bullish momentum. Thus, keep this stock on your watchlist.
4. Balmer Lawrie & Company Ltd (Rs 280.30)
   Balmer Lawrie & Company Ltd is engaged in the business of Industrial Packaging, Greases & Lubricants, Leather Chemicals, Logistic Services and Infrastructure, Refinery & Oil Field and Travel & Vacation Services in India. Today, in a board meeting the company approved the proposal for setting up a 200 KLPD 1st Generation Grain Based Ethanol Plant in Andhra Pradesh. The proposed investment on the project will be around Rs. 339 crore which will be funded by mix of internal accruals and debt. Add the stock to the watchlist
5. Vishnu Prakash R Punglia Ltd (Rs 219.20)
   Vishnu Prakash R Punglia Ltd is set to release its Q3FY2024 results on February 8. Thus, it is advisable to add this stock to the watchlist. The company is one of India’s fastest-growing Infrastructure Development Companies and is engaged in the business of designing and constructing infrastructure projects for the Central and State Governments, autonomous bodies, and private bodies across 9 States and 1 Union territory in India

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.