Overnight Digest: Top 5 Mid and Small-Cap Stocks to Watch for July 2

On Monday, the market reclaimed most of Friday’s losses with the Sensex surging by 0.56% to close at 79,476.19, and the Nifty gaining 0.55% to close at 24,141.95.

In sectors, Nifty Media, Nifty IT, and Nifty Financial Services led gains, while Nifty PSU Bank, Nifty Energy, and Nifty Realty were the top losers.

Tech Mahindra, Wipro, and Bajaj Finance were top gainers, while NTPC, SBI, and Eicher Motors saw declines.

The broader market saw strong performance, Nifty Midcap rose by 1%, and Nifty Smallcap soared by 1.51%. Advancing stocks outnumbered declining ones significantly, with 1703 advancing against 618 declining, reflecting positive market sentiment.

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

1. PG Electroplast Ltd (Rs 3,941.15)
   

   PG Electroplast Ltd’s shares hit a new high at Rs 3,948.80, indicating strong upward momentum. The company is a trusted one-stop solution provider for Electronic Manufacturing Services (EMS) and contract manufacturing catering to 70+ leading consumer durable, electronics, sanitaryware and automotive brands in India. Additionally, the stock has provided returns of 52.89% in the past month. Therefore, it is recommended to add this stock to your watchlist.

2. Indo Count Industries Ltd (Rs 450)
   

   Indo Count Industries Ltd is engaged in the home textiles & bedding industry. The company is a manufacturer and exporter of bed sheets, bed linen and quilts. It is also the largest global bed linen player. The company’s shares closed up by 15.5% today and experienced a significant surge in trading volume, surpassing the weekly average by almost 15.7 times. Considering this positive signal, it’s advisable to add this stock to your watchlist.

3. Dredging Corporation of India Ltd (Rs 1,157.65)
   

   Dredging Corporation of India Ltd is engaged in providing integrated dredging services to ports, Indian Navy and other maritime organizations in India. Shares of the company were locked in 5% upper circuit today and are very near its 52-week high price of Rs 1,212. Over the past month, the stock has delivered a 26% return, making it advisable to keep this stock on your watchlist.

4. Wockhardt Ltd (Rs 823.90)
   

   Wockhardt Ltd is a global pharmaceutical and biotechnology organization engaged in manufacturing finished dosage formulations, injectables, biopharmaceuticals, orals and topicals. Shares of the company were locked in an upper circuit of 20% for the day. Over the past week, the stock has delivered impressive returns of 42%. Given this momentum, keep this stock on your radar.

5. Ashima Ltd (Rs 47.10)
   

   Ashima Ltd, engaged in textiles, real estate, and treasury, has approved the issuance of 500 secured, unrated, redeemable, non-convertible debentures worth Rs.5 crores. This fund raising could potentially benefit the company in the future. Following this announcement, the stock closed up 5%, upper circuit, from the previous closing, making it advisable to keep Ashima Ltd on the 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.