Overnight Digest: Top 5 mid and small-cap stocks to watch out for March 14

On Wednesday, the stock market witnessed a widespread decline, with broader indices experiencing the most significant drops. The Sensex ended the day lower by 1.23 per cent, closing at the level of 72,761.89, while the Nifty also closed lower by 1.51 per cent at the level of 21,997.70.

Among the top gainers were ITC, ICICI Bank, and Kotak Bank, whereas Power Grid, Coal India, and Adani Ports were among the top losers in the Nifty 50.

In terms of sectors, only Nifty FMCG traded marginally positive, while Nifty Metal, Nifty Media, Nifty Energy, and Nifty Realty were among the top losers.

BSE-listed companies collectively lost more than Rs 14 lakh crore in market capitalization. The market breadth strongly favored declines, with the advance-decline ratio at 1:23.

Both the Midcap and Small Cap indices turned negative for the year 2024, with the broader market experiencing substantial declines. The Nifty Midcap closed significantly lower by 4.4 per cent, while the Nifty Smallcap plummeted by 5.28 per cent.

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

• Intellect Design Arena Ltd (Rs 1,129.75)

  Intellect Design Arena Limited works globally in the fields of Financial Technology for Banking, Insurance and other Financial Services. The shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by almost 9 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

• HCC Ltd (Rs 32)

  HCC Ltd primarily operates in engineering, construction services, real estate, infrastructure, and urban development. The company plans to launch a rights issue to raise approximately Rs 350 crore in funds. Therefore, it’s advisable to keep an eye on this stock for potential investment opportunities.

• Sanofi India Ltd (Rs 8,028.50)

  Sanofi India is engaged in Business of Manufacture and sale of pharmaceutical products.Sanofi India is engaged in Business of Manufacture and sale of pharmaceutical products. agreement between Sanofi India Limited (SIL) and Emcure Pharmaceuticals Limited for promotion and distribution of SIL’s Cardiovascular products in India for an initial period of five (5) years

• Power Mech Projects Ltd (Rs 4,591.85)

  Power Mech Projects Ltd, an engineering and construction firm, has formed a new subsidiary focusing on technology development for construction and other industries, including ERP and monitoring systems. This strategic move suggests potential growth and warrants monitoring of the company’s stock. Given this development keep the stock in your watchlist

• Paisalo Digital Ltd (Rs 112.2)

  Paisalo Digital Ltd, established in 1992, is a Non-Deposit Taking Non-Banking Financial Company with its registered office in Delhi and head office in Agra. The company plans to consider issuing Bonus shares at its upcoming board meeting, making it a stock worth monitoring.

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.