Overnight Digest: Top 5 Mid and Small-Cap Stocks to Watch for July 1

On Friday, the market experienced profit booking at record levels, causing it to close off intraday highs. The Sensex declined by 0.27% to close at 79,032.73, while the Nifty fell by 0.14% to settle at 24,010.60.

Among the sectors, Nifty Pharma, Nifty Energy, and Nifty PSU Bank emerged as the top gainers. Conversely, Nifty Bank, Nifty Financial Services, and Nifty Media were the leading losers.

Dr Reddy’s Laboratories, ONGC, and Reliance Industries were the top gaining stocks, while IndusInd Bank, Bharti Airtel, and Axis Bank were the major losers.

The broader market displayed a positive sentiment with 1,260 advancing stocks compared to 1,032 declining ones. This positive trend was also reflected in the broader market indices, as Nifty Midcap closed 0.56% higher and Nifty Smallcap surged by 0.84%.

Here is the list of the top 5 mid and small-cap stocks to watch:

1. Praj Industries Ltd (Rs 731)
   

   Praj Industries Ltd’s shares hit a new high at Rs 742, indicating strong upward momentum. The company is a leading biotechnology and engineering company globally, offering sustainable solutions in bioenergy, water purification, process equipment, breweries, and wastewater treatment. Additionally, the stock has provided returns of 45% in the past month. Therefore, it is recommended to add this stock to your watchlist.

2. JK Tyre & Industries Ltd (Rs 429.75)
   

   JK Tyre & Industries Ltd is one of the leading tyre manufacturers in India and amongst the top 25 manufacturers in the world, with a wide range of products catering to diverse business segments, including trucks, buses, LCVs, passenger cars, MUVs, and tractors. The company’s shares closed up by 9.13% today and experienced a significant surge in trading volume, surpassing the weekly average by almost 9.3 times. Considering this positive signal, it’s advisable to add this stock to your watchlist.

3. Asahi Songwon Colors Ltd (Rs 458)
   

   Today, Asahi Songwon Colors Ltd informed that the company’s wholly owned subsidiary, Atlas Life Sciences (India) Private Ltd, has successfully completed the trial runs of API and has commenced commercial production at its plant in Gujarat. Shares of the company are very near its 52-week high price of Rs 466. Over the past month, the stock has delivered a 21.8% return, making it advisable to keep this stock on your watchlist.

4. Solara Active Pharma Sciences Ltd (Rs 544.90)
   

   Solara Active Pharma Sciences Ltd is engaged in the business of manufacturing, production, processing, formulating, sale, import, export, merchandising, and distributing APIs. Shares of the company were locked in an upper circuit of 10% for the day. Over the past week, the stock has delivered impressive returns of 20%. Given this momentum, keep this stock on your radar.

5. Orchid Pharma Ltd (Rs 1,145)
   

   Orchid Pharma Ltd has partnered with Cipla to launch an antibiotic named Cefepime-Enmetazobactam in India. This strategic alliance aims to rapidly deploy Orchid’s novel anti-infective, invented in India, to address the rising threat of antimicrobial resistance (AMR). Orchid Pharma is a pharmaceutical company engaged in the development and manufacture of active pharmaceutical ingredients (APIs) and finished dosage forms. Hence, considering this positive signal, it’s advisable to add this stock to your watchlist.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.