Overnight Digest: Top 5 mid and small-cap stocks to watch out for June 21

On Thursday, the market posted a record close in a rangebound session. The Sensex gained 0.18% to close at 77,478.93, while the Nifty rose 0.22% to finish at 23,567.

Among sectors, Nifty Realty, Nifty Metal, and Nifty Bank were among the top gainers, while Nifty Pharma, Nifty Auto, and Nifty PSU Bank were the top losers.

Hindalco, Grasim, and BPCL emerged as the top gainers, whereas Hero Motocorp, Sun Pharma, and M&M were among the top losers.

A total of 1,494 stocks advanced compared to 816 that declined, indicating a positive sentiment in the broader market. The broader market also saw substantial gains, with Nifty Midcap closing 0.95% higher and Nifty Smallcap rising by 0.61%.

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

1. Paradeep Phosphates Ltd (Rs 91.54)
   

   Paradeep Phosphates Ltd’s shares hit a new high at Rs 93.90, indicating strong upward momentum. It is a manufacturer of non-urea fertilizers and India’s second largest private sector phosphatic company. The company is engaged in manufacturing, trading, distribution, and sales of a variety of complex fertilizers Additionally, the stock has provided returns of 21.54% in past 1 week. Therefore, it is recommended to add this stock to your watchlist.

2. Best Agrolife Ltd (Rs 699.50)
   

   Best Agrolife is a leading agrochemicals manufacturer in India and is among the top 15 agrochemicals companies in the country. It is one of the fastest growing manufacturers of Technical, Formulations, Intermediates and Public Health products. The company’s shares closed up by 14% today and experienced a significant surge in trading volume, surpassing the weekly average by 28 times. Considering this positive signal, it’s advisable to add this stock to your watchlist.

3. Om Infra Ltd (Rs 193.33)
   

   Om Infra Ltd, is an infrastructure company, having diverse business activities and interests related to Hydro-mechanical equipment, turnkey solutions for steel fabrication, Hydropower developments, Real Estate, Entertainment centres, and Hotels. 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 46.02%. Given this momentum, keep this stock in your radar.

4. Sky Gold Ltd (Rs 1,386.55)
   

   Sky Gold Ltd, engaged in designing, manufacturing, and marketing gold jewellery, has acquired 100% equity in Sparkling Chains and Starmangalsutra Private Limited through a share swap. This strategic move aligns with Sky Gold’s B2B model, enhancing its market presence and offerings. Year-to-date, the stock has delivered a 32.87% return, making it advisable to keep this stock on your watchlist.

5. Balu Forge Industries Ltd (Rs 342)
   

   Balu Forge Industries Ltd is engaged in the manufacturing of fully finished and semi-finished forged crankshafts and Forged Components. The company’s shares achieved a new 52-week high price of Rs 343.60. The stock has delivered 12.76% 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.