Overnight Digest: Top 5 mid and small-cap stocks to watch out for January 16

On Monday, the primary stock indices wrapped up the day on a positive note, achieving new record highs. The Sensex surged significantly by 1.05%, hitting an all-time high at 73,402.16, while the Nifty also marked a new peak at 22,115.55, registering a gain of over 0.93%.  

Top-performing sectors included Nifty IT, Nifty Energy, Nifty Pharma, and Nifty PSU Bank, while Nifty Media and Nifty Metal faced declines. 

In terms of individual stocks, Wipro, ONGC, and HCL Technologies stood out as notable gainers, whereas HDFC Life, Bajaj Finance, and Hindalco experienced declines within the Nifty 50. 

The broader market saw moderate gains, with Nifty Midcap rising by 0.67% and Nifty Smallcap climbing by 0.41%. 

Here are the Top 5 Mid and Small-cap Stocks to watch for the next trading session:     

Shalimar Paints Ltd (CMP Rs 208.40)

Shalimar Paint Ltd is the first paint company in India. It was acquired by the Ratan Jindal faction of the O.P. Jindal Group and S. S. Jhunjhunwala Group in 1989. It manufactures decorative paints and industrial coatings.  The stock experienced a significant surge in trading volume today, surpassing its weekly average by over 23 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.  

Tourism Finance Corporation of India Ltd (CMP Rs 171.10)

Tourism Finance Corporation of India Ltd provides financial assistance to the tourism sector comprising hotels, resorts, restaurants, food courts, amusement parks, ropeways, multiplexes, etc. Today, the shares of the company were locked in an upper circuit of 20% signalling bullish momentum. Thus, it is advisable to add this stock to your watchlist

Vascon Engineers (CMP Rs 84)

Vascon Engineers Ltd is a Construction Engineering company, operating in the Real Estate sector. The shares of the company achieved a new 52-week high price of Rs 84.80. The stock is about to give a breakout after 3 months of consolidation with increased volume. Thus keep this stock on your watchlist

Himadri Speciality Chemical Ltd (CMP Rs 374.80)

Himadri Speciality Chemical is primarily engaged in the manufacturing of carbon materials and chemicals. It is the No.1 coal pitch manufacturer in India and is the only company to manufacture advanced carbon material in India. The company is releasing its Q3FY2024 results on January 16. Thus, it is advisable to add this stock to the watchlist.

Newgen Software Technologies Ltd (CMP Rs 858.15)

Newgen Software Technologies Ltd is set to release its Q3FY2024 results on January 16. Thus, it is advisable to add this stock to the watchlist. Newgen is a global software company and is engaged in the business of software product development including designing and delivering end-to-end software solutions covering the entire spectrum of software services from workflow automation to Document management to imaging. 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.