Overnight Digest: Top 5 Mid and Small-Cap Stocks to Watch for July 9

On Monday, benchmark indices closed flat with mixed stock movements. The Sensex slipped by 0.05%, closing below the 80,000 mark, while the Nifty saw a marginal decline of 0.01% to settle at 24,320.55.

In sectoral performance, Nifty FMCG, Nifty Energy, and Nifty IT were the top gainers, while Nifty PSU Bank, Nifty Metal, and Nifty Pharma underperformed.

Leading the gainers were ONGC, ITC, and HDFC Life, while Divi’s Laboratories, Titan, and BPCL were among the top losers.

The broader market reflected losses with Nifty Midcap down by 0.35% and Nifty Smallcap declining by 0.17%. Of the stocks traded, 878 advanced compared to 1,335 that declined, indicating prevailing negative sentiment across the broader market.

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

1. Balu Forge Industries Ltd (Rs 395.90)
   

   Balu Forge Industries Ltd’s shares hit a new high at Rs 396, indicating strong upward momentum. It is engaged in the manufacturing of fully finished and semi-finished forged crankshafts and Forged Components. It has the capability to manufacture components conforming to the New Emission Regulations & the New Energy Vehicles. Additionally, the stock has provided returns of 19.8% in the past one week. Therefore, it is recommended to add this stock to your watchlist.

2. Gujarat Mineral Development Corporation Ltd (Rs 423.25)
   

   Gujarat Mineral Development Corporation Ltd is primarily engaged in 2 sectors i.e. mining and power. Its projects include Lignite, Bauxite, Fluorspar, Multi-Metal, Manganese, Power, Wind and Solar. The company’s shares closed up by 5.4% today and experienced a significant surge in trading volume, surpassing the weekly average by 13.8 times. Considering this positive signal, it’s advisable to add this stock to your watchlist.

3. Diamond Power Infrastructure Ltd (Rs 1,242.35)
   

   Diamond Power Infrastructure Ltd, engaged in manufacturing power products and services, has received a letter of intent from Adani Green Energy Limited worth Rs. 409 Crores (inclusive of GST) for various LV/MV cables. With a notable 43.09% return over the past month, considering this momentum and recent development, it may be prudent to keep this stock on your watchlist.

4. Walchandnagar Industries Ltd (Rs 315.33)
   

   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 seventh consecutive day. Over the past one month, the stock has delivered impressive returns of 62.42%. Given this momentum, keep this stock on your radar.

5. Suven Life Sciences Ltd (Rs 140.17)
   

   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 third consecutive day. The stock has achieved a new 52-week high price of Rs 140.17. Over the past week, the stock has delivered impressive returns of 31.90%. 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.