Overnight Digest: Top 5 mid and small-cap stocks to watch out for March 12

On Monday, the market started strong but couldn’t maintain its record high, ending the day on a low note. The Sensex, a key stock market index, closed down by 0.83% at 73,502.64, while the Nifty, another important index, also fell by 0.72% to 22,332.65

Some stocks like Apollo Hospitals, Nestle India, and SBI Life saw gains, but others like Tata Consumer Product, Bajaj Auto, and Power Grid faced losses

Among sectors, only the pharmaceutical sector saw gains, while media, PSU banks, metal, and energy sectors experienced losses

The broader market also saw declines, with the Nifty Midcap down moderately by 0.39% and the Nifty Smallcap down significantly by 1.99%.

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

KEC International Ltd (Rs 748.4)

KEC International Ltd is primarily engaged in Engineering, Procurement and Construction business (EPC) relating to infrastructure interalia products, projects and systems and related activities for power transmission, distribution, railway and other EPC businesses. The shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by almost 15 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

Macpower CNC Machines Ltd (Rs 897.75)

Macpower CNC Machines Ltd is engaged in the manufacture of Computerized Numerically Controlled (CNC) machines and Lathe Machines. The shares of the company were locked in an upper circuit of 10% for the day and have delivered returns of 58.10% year to date indicating bullish momentum. Hence add this stock to the watchlist.

Kirloskar Brothers Ltd (Rs 1,155.20)

Shares of Kirloskar Brothers Ltd reached a new 52-week high price of Rs 1,240.90 today. The company is a part of the Kirloskar Group engaged in the business of engineering and manufacturing of systems for fluid management. The core businesses include large infrastructure projects (Water Supply, Power Plants, and Irrigation), Pumps, Valves, Motors and Hydro turbines. Thus keep this stock on the watchlist.

Pitti Engineering Ltd (Rs 750.85)

Pitti Engineering Ltd manufactures electrical steel laminations, motor cores, and other metal components. In a recent board meeting, they approved acquiring 100% of Bagadia Chaitra Industries Private Ltd, aiming to expand their presence in South India. This move aligns with their growth strategy, adding to their assets and production capacity while strengthening operations and reaching new customers.

ESAF Small Finance Bank Ltd (Rs 59.5)

ESAF is a Small Finance Bank that focuses on providing loans to rural and semi-urban customers. Recently, its Board of Directors approved raising funds by issuing Tier II Bonds worth up to Rs. 135 Crores through private placement. Considering this development, it’s recommended to add ESAF stock to the watchlist for potential investment opportunities.

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.