Overnight Digest: Top 5 mid and small-cap stocks to watch out for June 18

On Friday, the market continued to hit record highs but remained within a range. The Sensex gained moderately by 0.24% to close at 77,992.78, while the Nifty achieved a life high for the third consecutive session, rising by 0.29% to close at 23,465.60.

In sectoral performance, Nifty Auto, Nifty Realty, and Nifty Metal were among the top gainers, whereas Nifty IT and Nifty Media were among the top losers.

Eicher Motors, M&M, and Adani Ports were among the top gainers, while Tech Mahindra, TCS, and Wipro were among the top losers.

Market breadth showed positive sentiment with 1263 stocks advancing compared to 872 declining. Similarly, the broader market saw significant gains with the midcap index rising for the fifth consecutive day. The Nifty Midcap closed notably higher by 1.05% at a record high of 55,270.95, while the Nifty Smallcap soared by 0.76% to reach its all-time high of 18,043.60.

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

1. Chemplast Sanmar Ltd (Rs 623.70)

Chemplast Sanmar Ltd’s shares hit a new high at Rs 633.90, indicating strong upward momentum. It 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. Additionally, the stock has provided returns of 26.41% over the past week. Therefore, it is recommended to add this stock to your watchlist.

2. Paras Defence and Space Technologies Ltd (Rs 1,156.90)

Paras Defence and Space Technologies Ltd is a private sector company primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions. The company caters to four major segments – Defence & Space Optics, Defence Electronics, Heavy Engineering and Electromagnetic Pulse Protection Solutions. The company’s shares were locked in an upper circuit of 20% for the day. Over the past month, the stock has delivered impressive returns of 58%. Given this momentum, keep this stock in your radar.

3. Amines & Plasticisers Ltd (Rs 259.90)

Amines & Plasticisers Ltd is engaged in the production of alkyl alkanolamines, morpholine, alkyl morpholine and gas treating solvents having end-use in oil refineries, natural gas plants, ammonia plants, petrochemical plants, pharmaceuticals and agrochemicals The company’s shares closed up by 15.66 % today and experienced a significant surge in trading volume, surpassing the weekly average by 18.6 times. Considering this positive signal, it’s advisable to add this stock to your watchlist.

4. Azad Engineering Ltd (Rs 1,797.60)

Azad Engineering Ltd is a manufacturer of aerospace components and turbines and supplies its products to original equipment manufacturers (OEMs) in the aerospace, defense, energy, and oil and gas industries. Over the past one month, the stock has delivered a return of 36.6%. This notable increase in stock price makes the stock a strong contender for the watchlist.

5. Blue Dart Express Ltd (Rs 7,944.65)

Blue Dart Express Ltd has appointed Dipanjan Banerjee as its Chief Commercial Officer starting June 2024. With almost twenty years of experience in business development and market expansion in express delivery and logistics, Dipanjan previously served as Chief Business Officer at Ecom Express and held various strategic roles at FedEx Express, focusing on supply chain management and express delivery solutions. This appointment highlights his strong leadership and strategic capabilities, making Blue Dart a stock to watch.

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.