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

On Tuesday, the market demonstrated positive sentiment, with the Sensex rising by 0.12% to reach 81,455.40, while the Nifty increased by 0.09%, breaking through the 24,857.30 mark. The broader market experienced a significant uptick, with the Nifty Mid-cap closing up by 0.45% and the Nifty Small-cap rallying by 0.86%.

Reflecting a decrease in market volatility, the India VIX plunged by 0.50%, closing below 13. Within the sectoral landscape, Nifty Energy and Nifty Realty emerged as top gainers, whereas Nifty Pharma and Nifty FMCG underperformed.

In the broader market, 2,295 stocks advanced compared to 1,606 that declined, indicating a generally positive sentiment.

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

Ajanta Pharma Ltd (Rs 2,534.00)

Ajanta Pharma Ltd’s shares hit a new high at Rs 2,579.90 indicating strong upward momentum. With a 12.31% return in the past month, the company is primarily engaged in development, manufacturing and marketing of specialty pharmaceutical quality finished dosages. Add this stock to the watchlist.

Suzlon Energy Ltd (Rs 68.22)

Suzlon Energy Ltd Is one of the leading global renewable energy solutions providers. It is a vertically integrated WTG manufacturer. It also undertakes installation and O&M of all WTG sales. Shares of the company were locked in an upper circuit of 5% for the day indicating increased buyer interest. The stock has delivered a return of 29% in the past month. Hence given such momentum, keep this stock in your radar.

Jindal Drilling & Industries Ltd (Rs 684.00)

Jindal Drilling & Industries Ltd is a leading Indian company in offshore drilling and allied services, including directional drilling and mud logging. Shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by 45.72 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

FSN E-Commerce Ventures Ltd (Rs 198.85)

Shares of FSN E-Commerce Ventures Ltd closed up by 8.75% today, indicating heightened investor activity. The stock has delivered a year-to-date return of 15.68% and reached a new 52-week high of Rs 201.93. FSN E-commerce Ventures Ltd. popularly known as “Nykaa” is a digitally native consumer technology platform, delivering a content-led, lifestyle retail experience to consumers. It is advisable to keep this stock on your watchlist.

NBCC (India) Ltd (Rs 184.84)

NBCC (India) Ltd, operates in three major segments – Project Management Consultancy, Engineering Procurement & Construction, and Real Estate. Intimation of work orders received by Hindustan Steelworks Construction Limited (HSCL), a subsidiary of NBCC, in normal course of business, amounting Rs. 443.61 crore (Approx.). The company has delivered year till date returns of 125.83%. 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.