Overnight Digest: Top 5 mid and small-cap stocks to watch out for March 7

On Wednesday, the market bounced back strongly to achieve a record-high close, with the Sensex rising by 0.55% and reaching a new peak of 74,151.28 points. The Nifty also surged by 0.53%, hitting a new record high of 22,497.20 points.

Among the top performers were Nifty Bank, Nifty IT, and Nifty Pharma, while Nifty Media, Nifty Realty, and Nifty Metal were among the biggest losers.

In terms of individual stocks, Bajaj Auto, Kotak Bank, and Axis Bank saw significant gains, whereas Adani Enterprises, Ultratech Cement, and NTPC experienced notable losses within the Nifty 50 index.

However, the broader market did not fare as well, with Nifty Midcap ending slightly lower by 0.52%, and Nifty Smallcap seeing a more substantial decline of 1.96%.

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

RPG Life Sciences Ltd (1,522.75)

RPG Life Sciences Ltd is engaged in the manufacturing and marketing of Formulations (Finished Dosage Forms) and Active Pharmaceutical Ingredients (APIs) in the domestic and international markets The shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by almost 13 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

Alok Industries Ltd (Rs 29.05)

Alok Industries Ltd is a textile company with a presence in the cotton and polyester segments. The Company is engaged in the manufacturing of textiles, including mending and packing activities, leather, and other apparel products. The shares of the company were locked in an upper circuit of 5% for the day and have delivered returns of 35.75% year to date indicating bullish momentum. Hence add this stock to the watchlist.

Godfrey Phillips India Ltd (Rs 3,164)

Shares of Godfrey Phillips India Ltd reached a new 52-week high price of Rs 3,182.95 today. The company is one of the leading FMCG Companies in India – the flagship company of KK Modi Group. They have many iconic cigarette brands like Four Square, Red & White, and Cavanders to its name. Thus keep this stock on the watchlist.

Subex Ltd (Rs 36.25)

Subex Ltd, a telecom AI company known for enabling connected experiences, announces that it has won a deal with a leading telecom operator in Southeast Asia. This deal involves the deployment of Subex’s state-of-the-art Business Assurance and Fraud Management solutions on HyperSense. This significant development continues the over two-decade-long alliance between Subex and the operator, building on the successful implementation of ROC Revenue Assurance and Fraud Management systems.

Tine Agro Ltd (Rs 392.55)

Tine Agro Ltd, which deals in trading agricultural products, recently held an Extraordinary General Meeting. During the meeting, two topics were discussed: dividing existing shares into smaller units from Rs 10 per share to Rs 1 per share and issuing bonus shares. These favourable decisions suggest potential growth for the company stock. It’s advisable to add this stock to the 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.