Overnight Digest: Top 5 Mid and Small-cap Stocks to Watch out for May 16

On Wednesday, the market closed with a mixed performance following a session characterized by trading within a limited range. The Sensex experienced a moderate decline of 0.16%, settling at 72,987.03, while the Nifty also saw a slight dip of 0.08%, closing at 22,200.55.

In terms of sectoral performance, Nifty PSU Bank, Nifty Energy, and Nifty Realty ended on a positive note, while Nifty FMCG, Nifty Media, and Nifty Auto were among the top losers.

Among individual stocks, Coal India, Cipla, and BPCL emerged as the top gainers, whereas Asian Paints, Tata Motors, and Bajaj Auto were the top losers among Nifty 50 stocks.

The broader market sentiment remained positive, with 1246 stocks advancing compared to 847 stocks declining. Additionally, the Nifty Midcap index closed higher by 0.96%, while the Nifty Smallcap index saw a notable increase of 0.58%.

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

1. HPL Electric & Power Ltd (Rs 410.80)
   

   HPL Electric & Power Ltd, a leading electrical equipment manufacturer, through a press release today announced that it has reinforced its market dominance in the smart metering sector, showcasing a significant 27.25% year-over-year growth in its Metering, Systems & Services segment. This growth was fuelled by a steady influx of orders for conventional meters along with substantial contracts from leading Advanced Metering Infrastructure Service Providers (AMISPs). Hence, given such development it warrants the inclusion tomorrow’s watchlist

2. Associated Alcohols & Breweries Ltd (Rs 607.00)
   

   Associated Alcohols & Breweries Ltd is in business of manufacturing and trading of ENA, Indian Made Indian Liquor (Country Liquor), Indian Made Foreign Liquor and Hand sanitizer. Shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by 30 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

3. Macpower CNC Machines Ltd (Rs 1,438.30)
   

   Macpower CNC Machines Ltd is engaged in the manufacture of Computerized Numerically Controlled (CNC) machines and Lathe Machines. Shares of the company were locked in an upper circuit of 10% for the day indicating increased buyer interest. The stock has delivered 153.3% return in the year till date. Hence given such momentum, keep this stock in your radar.

4. D-Link India Ltd (Rs 435.00)
   

   Today, the shares of D-Link India Ltd reached a new 52-week high price of Rs 455.90 signalling bullish momentum. The company is engaged in marketing and distribution of networking products. It operates through a distribution network with a wide range of product portfolio and solutions with a nationwide reach across India. Add this stock to the watchlist.

5. Remus Pharmaceuticals Ltd (Rs 8,202.10)
   

   Remus Pharmaceuticals Ltd is engaged in the marketing and distributing of finished formulations of pharmaceutical drugs. The company is set to release its Q4FY24 results tomorrow and the stock has closed up by 11.13% today. Given this positive development, it is prudent to closely monitor the stock.

 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.