Overnight Digest: Top 5 mid and small-cap stocks to watch out for July 23

On Monday, the market displayed muted sentiment with the benchmark indices ending the trading day on a negative note. The Sensex dipped by 0.13% to close at 80,502.08, while the Nifty fell by 0.09% to 24,509.25.

Despite the downturn in the benchmark indices, the broader market saw a positive surge. The Nifty Mid-cap closed up by 1.28%, and the Nifty Small-cap rallied by 0.90%, indicating robust performance in these segments.

Market volatility increased, as reflected by a 4.13% rise in the India VIX, which closed just below 16, signifying heightened market volatility.

In terms of sectoral performance, Nifty Pharma and Nifty Auto emerged as the top gainers. In contrast, Nifty Realty, Nifty Media, and Nifty IT were among the top losers.

The broader market sentiment was positive, with 2,190 stocks advancing compared to 1,822 stocks declining, showcasing an overall optimistic outlook.

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

Alembic Pharmaceuticals Ltd (Rs 1124.90)

Alembic Pharmaceuticals Ltd’s shares hit a new high at Rs 1,165, indicating strong upward momentum. With a 24.64% return in the past month, the company is in the business of development, manufacturing, and marketing of Pharmaceuticals products i.e. Formulations and Active Pharmaceutical Ingredients.. Add this stock to the watchlist.

Cochin Shipyard Ltd (Rs 2,670.35)

Cochin Shipyard Ltd is a leading player in construction of all kinds of vessels, repairs and refits of all types of vessels including periodic upgradation and life extension of ships. Shares of the company were locked in an upper circuit of 5% for the day indicating increased buyer interest. The stock has delivered year till date returns of whopping 291.87%. Hence given such momentum, keep this stock in your radar.

Chemplast Sanmar Ltd (Rs 532)

Chemplast Sanmar Ltd is a major manufacturer of Speciality Chemicals such as Specialty Paste PVC resin and Custom Manufactured Chemicals for agro-chemical, pharmaceutical and fine chemicals sector. Shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by 11.71 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

Antony Waste Handling Cell Ltd (Rs 663.10)

Shares of Antony Waste Handling Cell Ltd closed up by 12.53% today, indicating heightened investor activity. The stock has delivered a year-to-date return of 33.42% and reached a new 52-week high of Rs 699. The company engaged in the business of mechanical power sweeping of roads, collection and transportation of waste, waste to energy project and undertake the designing, construction, operation and maintenance of the integrated waste management facility in Kanjurmarg, Mumbai. It is advisable to keep this stock on your watchlist.

TARC Ltd (Rs 199.40)

TARC Ltd,started out as a construction and contracting company and evolved to become one of the largest real estate development companies and land bank holders in the New Delhi Metropolitan Area. TARC Limited Appoints Arabian Construction Company as Principal Contractor for more than 4.5 million square feet Luxury Residential Development. The stock closed up by 5%, and has given year to date returns of 45.49%. Given this positive development, it is prudent to closely monitor the stock.

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.