Overnight Digest: Top 5 Mid and Small-Cap Stocks to Watch for July 15

On Friday, the market extended its gains for six consecutive weeks, marking the longest streak in 2024. Benchmark indices outperformed broader markets, with the market reaching a record high driven by broad-based gains in the IT sector.

The Sensex hit an intra-day record high of 80,894 and surged by 0.78%, closing at a new all-time high of 80,893.51. The Nifty soared by 0.77%, reaching a record high of 24,592.20.

In the sectoral landscape, Nifty IT, Nifty Media, and Nifty FMCG were top gainers, while Nifty Realty, Nifty PSU Bank, and Nifty Auto underperformed. TCS, Wipro, and Infosys were among the top gainers, whereas Maruti, Divi’s Laboratories, and Coal India were top losers.

The broader market also experienced gains, with Nifty Midcap rising by 0.04% and Nifty Smallcap increasing by 0.16%. Despite this, 951 stocks advanced while 1,333 declined, indicating a negative sentiment in the broader market.

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

1. IFCI Ltd (Rs 69.74)
   

   IFCI Ltd’s shares hit a new high at Rs 72, indicating strong upward momentum. It is an Indian Government owned non-banking finance company established to cater to the long-term finance needs of the industrial sector. Additionally, the stock has provided returns of 13.6% in past one week. Therefore, it is recommended to add this stock to your watchlist.

2. NGL Fine-Chem Ltd (Rs 2575)
   

   NGL Fine-Chem Ltd manufactures human and veterinary bulk drugs, intermediates, and formulations. The company’s shares closed up by 7.59% today and experienced a significant surge in trading volume, surpassing the weekly average by 10.8 times. Considering this positive signal, it’s advisable to add this stock to your watchlist.

3. Servotech Power Systems Ltd (Rs 107.29)
   

   Servotech Power Systems Ltd develops tech-enabled EV Charging solutions leveraging their over two decades of experience and expertise in the electronics space. Shares of the company were locked in an upper circuit of 10% for the day. Over the past one week, the stock has delivered impressive returns of 22%. Given this momentum, keep this stock on your radar.

4. Jupiter Wagons Ltd (Rs 697)
   

   Jupiter Wagons Ltd, a top provider of mobility solutions for rail, road, and marine transportation, has successfully completed its Qualified Institutional Placement (QIP), raising Rs 800 crores. The QIP attracted a total demand of approximately Rs 2,800 crores, 3.5 times the QIP size, reflecting strong confidence from institutional investors in the company’s future prospects. Given this development, keep this stock on your radar.

5. Marine Electricals India Ltd (Rs 239.70)
   

   Marine Electricals India Ltd is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions. Over the past one week, the stock has delivered impressive returns of 31%. Given this momentum, keep this stock on your radar.

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.