Overnight Digest: Top 5 mid and small-cap stocks to watch out for June 20

On Wednesday, the market saw a mixed close after hitting record highs intraday. All four frontline indices reached record highs today. Buying in major private banking names helped Nifty Bank achieve a record high.

Sensex gained 0.05% to close at 77,337.60, while Nifty declined 0.15% to close at 23,516.

In the sectoral landscape, Nifty Bank, Nifty Financial Services, and Nifty IT were among the top gainers, while Nifty Realty, Nifty Energy, and Nifty Auto were among the top losers.

HDFC Bank, Axis Bank, and ICICI Bank were among the top gainers, whereas Titan, L&T, and Maruti were among the top losers.

About 868 stocks advanced compared to 1,432 that declined, indicating a negative sentiment in the broader market. The broader market also experienced substantial declines, with Nifty Midcap closing 0.99% lower and Nifty Smallcap plunging 0.47%. Additionally, Nifty Bank surged 1.9%, reaching a new all-time high of 51,398.05.

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

1. EID Parry Ltd (Rs 811.30)
   

   EID Parry Ltd’s shares hit a new high at Rs 833, indicating strong upward momentum. It is engaged in Sugar, Nutraceuticals and ethanol production. It also has a significant presence in the Farm Inputs business including Bio pesticides through its subsidiary, Coromandel International Ltd. Additionally, the stock has provided returns of 14.25 % in past 1 week. Therefore, it is recommended to add this stock to your watchlist.

2. Azad Engineering Ltd (Rs 1,981.80)
   

   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 The company’s shares were locked in an upper circuit of 5% for the day. Over the past month, the stock has delivered impressive returns of 34.82%. Given this momentum, keep this stock in your radar.

3. FINO payments Bank Ltd (Rs 342.05)
   

   FINO payments Bank Ltd is a growing fintech company offering a diverse range of financial products and services that are primarily digital and have a payments focus. It offers such products and services to the target market via a Pan-India distribution network. The company’s shares closed up by 20% today and experienced a significant surge in trading volume, surpassing the weekly average by whopping 70 times. Considering this positive signal, it’s advisable to add this stock to your watchlist.

4. Eimco Elecon India Ltd (Rs 2,041)
   

   Eimco Elecon India Ltd, which manufactures and markets equipment for underground and opencast mines, has secured an order worth Rs 33.11 crores to supply coal mining equipment. Year-to-date, the stock has delivered a 29.66% return, making it advisable to keep this stock on your watchlist.

5. Asahi India Glass Ltd (Rs 671.70)
   

   Asahi India Glass Ltd is India’s leading value-added and integrated glass solutions company and a dominant player both in the automotive and architectural glass segments. The company’s shares experienced a significant surge in trading volume yesterday and today the shares have achieved a new 52-week high price of Rs 690. The stock has delivered 7% returns in past 1 week. Hence considering this positive signal, it’s advisable to add this stock to 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.