Overnight Digest: Top 5 mid and small-cap stocks to watch out for June 24

On Friday, the market failed to maintain its opening gains, with profit booking seen at record levels. The Sensex declined by 0.35%, closing at 77,209.90, while the Nifty fell by 0.47%, ending at 23,501.10.

Within the sectoral landscape, Nifty Media, Nifty IT, and Nifty Metal were among the top gainers, while Nifty FMCG, Nifty PSU Bank, and Nifty Realty were the top losers.

Among the top gainers were Bharti Airtel, LTIMindtree, and Hindalco. Conversely, Ultratech Cement, Adani Enterprises, and BPCL were among the top losers.

Approximately 984 stocks advanced, compared to 1,307 that declined, indicating a negative sentiment in the broader market. The broader market also experienced losses, with the Nifty Midcap closing 0.18% lower and the Nifty Smallcap dropping by 0.24%.

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

1. Time Technoplast Ltd (Rs 334.95)
   

   Time Technoplast Ltd’s shares hit a new high at Rs 352.25, indicating strong upward momentum. The company is a multinational conglomerate involved in the manufacturing of technology and innovation driven polymer & composite products. Additionally, the stock has provided returns of 9.69% in past 1 week. Therefore, it is recommended to add this stock to your watchlist.

2. Poly Medicure Ltd (Rs 2,061)
   

   Poly Medicure Ltd is an India-based manufacturer and exporter of medical devices. The Company exports plastic medical disposables/surgical devices. The company’s shares closed up by 2.99% today and experienced a significant surge in trading volume, surpassing the weekly average by almost 24 times. Considering this positive signal, it’s advisable to add this stock to your watchlist.

3. Eimco Elecon India Ltd (Rs 2,265.65)
   

   Eimco Elecon India Ltd manufactures and markets equipment for underground and opencast mines. Shares of the company were locked in an upper circuit of 5% for the day. For the year till date, the stock has delivered impressive returns of 42.94%. Given this momentum, keep this stock in your radar.

4. Blue Cloud Softech Solutions Ltd (Rs 171.68)
   

   Blue Cloud Softech Solutions Ltd is in the business of computer software and data processing services. The company has bagged a strategic ‘Digital Transformation’ project from Rachana Grammar High School, a reputed 25-year-old educational institution. Year-to-date, the stock has delivered a 113.33% return, making it advisable to keep this stock on your watchlist.

5. Inox Green Energy Services Ltd (Rs 168.65)
   

   Inox Green Energy Services Ltd is one of the major wind power operation and maintenance service providers within India. The company’s shares achieved a new 52-week high price of Rs 174. The stock has delivered 19.7% 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.