Overnight Digest: Top 5 Mid and Small-Cap Stocks to Watch for July 8

On Friday, benchmark indices concluded the last trading day of the week on a mixed note. The market cap of BSE-listed companies hit a record high of Rs 450 lakh crore, with Reliance Industries surging to a record high amid reports related to Jio’s IPO.

The Sensex declined by 0.07% and closed below the 80,000 mark, while the Nifty surged by 0.09% to close at 24,323.85.

Among sectors Nifty Energy, Nifty Pharma, and Nifty PSU Bank were among the top gainers, while Nifty Financial Services, Nifty Bank, and Nifty Realty underperformed.

ONGC, SBI, and Reliance were among the top gainers, whereas HDFC Bank, Titan, and Tata Steel were among the top losers.

The broader market experienced significant gains. Nifty Midcap closed 0.83% higher at a new record high of 57,129.25, while Nifty Smallcap soared 0.79% to an all-time high of 18,993.60. About 1,356 stocks advanced compared to 935 that declined, indicating positive sentiment in the broader market.

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

1. Marksans Pharma Ltd (Rs 188.5)
   

   Marksans Pharma Ltd’s shares hit a new high at Rs 189.25, indicating strong upward momentum. It is engaged in the Business of Formulation of pharmaceutical products. Additionally, the stock has provided returns of 18.2% in the past one week. Therefore, it is recommended to add this stock to your watchlist.

2. Ahluwalia Contracts India Ltd (Rs 1,462)
   

   Ahluwalia Contracts India Ltd is engaged in engineering and contract construction, delivering state of-the-art infrastructure and buildings projects for clients in India. The company’s shares closed up by 11.90% today and experienced a significant surge in trading volume, surpassing the weekly average by 23.6 times. Considering this positive signal, it’s advisable to add this stock to your watchlist.

3. KPI Green Energy Ltd (Rs 1,784)
   

   KPI Green Energy Ltd, a renewable power infra company, has successfully signed a Power Purchase Agreement for a 50MW Solar-Wind Hybrid Power Project with Gujarat Urja Vikas Nigam Ltd. The stock has delivered 80% returns for the year till date, given this momentum and development, consider keeping this stock on your watchlist.

4. Walchandnagar Industries Ltd (Rs 300.32)
   

   Walchandnagar Industries Ltd is a Heavy Engineering and Project execution company and has diversified business offerings across core sectors with focus on EPC / Turnkey Projects, Hi Tech Manufacturing, Engineering Products and Engineering Services. Shares of the company were locked in an upper circuit of 5% for the day for the sixth consecutive day. Over the past one week, the stock has delivered impressive returns of 34%. Given this momentum, keep this stock on your radar.

5. Suven Life Sciences Ltd (Rs 127.43)
   

   Suven Life Sciences Ltd is a clinical-stage biopharmaceutical company focused on the acquisition, development and commercialisation of novel therapeutics for the treatment of neurodegenerative disorders. Shares of the company were locked in an upper circuit of 10% for the second consecutive day. The stock has achieved a new 52-week high price of Rs 129. Over the past month, the stock has delivered impressive returns of 44.97%. 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.