Overnight Digest: Top 5 mid and small-cap stocks to watch out for June 13

On Wednesday, the market hit a record high intraday but ended off its highs. The market cap of BSE-listed companies reached a record Rs 429 lakh crore ($5.14 trillion), with an increase of more than Rs 2 lakh crore.

The Sensex gained 0.2% to close at 76,696.57, while the Nifty rose by 0.25% to close at 23,322.95.

Among sectors, Nifty Media, Nifty PSU Bank, and Nifty Energy were the top gainers, while Nifty FMCG, Nifty Auto, and Nifty Realty were the top losers.

Top gainers included Coal India, Power Grid Corporation, and Eicher Motors, whereas M&M, Britannia, and Hindustan Unilever were among the top losers.

The broader market showed positive sentiment with 1,465 stocks advancing compared to 672 declining. The Nifty Midcap surged 1.04% to a record 54,308.80, and the Nifty Smallcap soared 1.23% to an all-time high of 17,809.15.

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

1. Saurashtra Cement Ltd (Rs 135.99)
   

   Saurashtra Cement Ltd’s shares hit a new high at ₹136.90, indicating strong upward momentum. The company is engaged in the manufacturing and selling of cement, marketing its products under the brand name ‘HATHI’. Additionally, the stock has provided returns of 26.42% over the past week. Therefore, it is recommended to add this stock to your watchlist.

2. Om Infra Ltd (Rs 160.32)
   

   Om Infra Ltd, an infrastructure company with diverse business activities and interests in hydro-mechanical equipment, turnkey solutions for steel fabrication, hydropower developments, real estate, entertainment centres, and hotels, has garnered significant buyer interest. The company’s shares were locked in an upper circuit of 20% for the day. Over the past week, the stock has delivered impressive returns of 46.10%. Given this momentum, keep this stock in your radar.

3. Crest Ventures Ltd (Rs 447)
   

   Crest Ventures Ltd, a non-deposit taking NBFC registered with the RBI, is engaged in real estate and related services, financial services, investment, and credit operations. The company’s shares closed up by 16.04% today and experienced a significant surge in trading volume, surpassing the weekly average by 41 times. Considering this positive signal, it’s advisable to add this stock to your watchlist.

4. Dredging Corporation of India Ltd (Rs 1,129.20)
   

   Dredging Corporation of India Ltd, trading at a 52-week high of Rs 1,129.20, is engaged in providing integrated dredging services to ports, the Indian Navy, and other maritime organizations in India. The company’s shares closed in the upper circuit of 10% today, with a one-month return surpassing 52%. This significant surge in stock price, backed by recent order receipts, positions the stock as a strong contender of the watchlist.

5. Redtape Ltd (Rs 776.50)
   

   Redtape Ltd, a prominent player in the retail segment of footwear and garments for men, women, and kids, primarily focuses on the domestic market with minimal exports. Today, the company commenced operations at its newly constructed warehouse in West Bengal, which boasts a storage capacity of 62,500 square feet. This new facility is expected to enhance the efficiency of delivering products to online shopping customers. Given this positive momentum, it is advisable to keep this stock on your 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.