Overnight Digest: Top 5 mid and small-cap stocks to watch out for January 31

On Tuesday, the major indices witnessed a negative trend with Sensex closing down by 1.11% at 71,139.90, and Nifty falling by 0.99% to 21,522.10. In the broader market, the Nifty Midcap declined by 0.39%, while the Nifty Small cap saw a marginal rise of 0.23%. Market volatility, gauged by India VIX, increased by 2.69%.

Nifty PSU Bank, Nifty Media, Nifty Realty, and Nifty Metal showed positive momentum, whereas Nifty Energy, Nifty FMCG, Nifty Pharma, and Nifty Financial Services experienced losses.

Gainers included BPCL, Tata Motors, and Grasim, while Bajaj Finance, Titan, and Ultratech Cement were among the top losers in Nifty 50.

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

Dolat Algotech Ltd (CMP Rs 73.90)

Established in 1987, Dolat Investments operates as an investment and trading company, situated at Veera Desai Road, Andheri. Its revenue streams include the sale of shares, securities, mutual fund investments, dividends, and commodity trading. With a remarkable 34.56-fold surge in trading volume and a substantial 14.57% price change, it is prudent to consider adding this stock to your watchlist for potential opportunities.

Orchid Pharma Ltd (CMP Rs 863.85)

Orchid Pharma is a pharmaceutical company specialising in the development and manufacturing of active pharmaceutical ingredients (APIs) and finished dosage forms. Additionally, it actively researches new drugs. Today, the company’s shares witnessed a substantial surge, reaching the upper circuit of 20%, indicating a noteworthy uptick in buyer interest. Investors should consider adding this stock to their watchlist.

Ahluwalia Contracts Ltd (CMP Rs 870.40)

Today, Ahluwalia Contracts Ltd witnessed a surge, reaching a new 52-week high of Rs 870, signalling a bullish trend. Specializing in engineering and contract construction, the company excels in delivering cutting-edge infrastructure and building projects across India. Its diverse portfolio spans residential, commercial, institutional, and corporate offices, power plants, hospitals, hotels, IT parks, Metro stations, depots, and automated car parking lots, serving both governmental and private clients.

Suzlon Energy Ltd (CMP Rs 43.80)

Incorporated in 1995, Suzlon Energy Ltd is a leading renewable energy solutions provider, specializing in the manufacturing, project execution, and maintenance of wind turbine generators, along with the sale of related components. The company has secured a new order of 642 MW from Evren, as announced in the attached press release. Consider adding this stock to your watchlist in light of this development.

Kalyan Jewellers India Ltd (CMP 367.40)

Kalyan Jewellers India Ltd. is a leading jewellery brand, recognized for designing, manufacturing, and selling a diverse range of gold, studded, and other jewellery products catering to various price points. The company is set to release its Q3FY2024 results on January 31. 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.