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

On Wednesday, the stock market stayed mostly unchanged after a day of trading where prices moved within a narrow range. The Sensex, a key index of the Bombay Stock Exchange, increased by 0.12%, closing at 72,101.69 points, while the Nifty, another important index, rose by 0.16% to close at 21,839.10 points.

Some of the top-performing stocks included Eicher Motors, Maruti, and Power Grid, which saw their prices go up, while Tata Steel, Tata Consumer Products, and Tata Motors saw declines. Maruti’s stock reached a new high as investors anticipated a potential tax reduction for hybrid vehicles.

In terms of sectors, Nifty Energy, Nifty Realty, Nifty FMCG (Fast Moving Consumer Goods), and Nifty Auto performed well, while Nifty Metal, Nifty Financial Services, Nifty Pharma (Pharmaceuticals), and Nifty Media struggled.

The broader market also saw slight increases, with the Nifty Midcap index rising by 0.09% and the Nifty Smallcap index increasing by 0.12% .

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

1. LT Foods Ltd (Rs 179.20)

   LT Foods Ltd is primarily engaged in the business of milling, processing and marketing of branded and non-branded basmati rice and manufacturing of rice food products in the domestic and overseas market. The shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by almost 8 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

2. Salzer Electronics (Rs 781.65)

   Salzer Electronics Ltd is engaged in offering Total and Customised Electrical Solutions in Switchgears, Wires & Cables and Energy Management business. The shares of the company were locked in an upper circuit of 10% for the day indicating increased buyer interest. Hence add this stock to the watchlist.

3. eMudhra Ltd (Rs 623.35)

   Today, the shares of eMudhra Ltd reached a new 52-week high price of Rs 625 signalling bullish momentum. The company is a licensed certifying authority involved in issuing digital signature certificates in India under its eMudhra brand. Hence, Keep this stock in your watchlist.

4. Prince Pipes and Fittings Ltd (Rs 530)

   Prince Pipes and Fittings Ltd is an integrated piping solution & multi polymer manufacturer. Today the company disclosed that it has approved the acquisition of the ‘Aquel’ brand, including all its patents and rights, as well as land, buildings, machinery, and office equipment, in two parts. The total cost of this acquisition won’t exceed Rs 55 Crores. Given this development keep the stock in your watchlist

5. Gensol Engineering Ltd (Rs 881.2)

   Gensol Engineering Ltd specializes in solar consulting and EPC services. After announcing the completion of a 160 MW ground-mounted solar project in Gujarat, their stock has been consistently rising, hitting the upper circuit for three consecutive days and delivering a return of 15.75%. Over the past year, the stock has seen an impressive return of around 80%, indicating strong bullish momentum. It’s advisable to keep an eye on this stock for potential investment opportunities. Thus keep this stock in 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.