Overnight Digest: Top 5 mid and small-cap stocks to watch out for May 18

In the current trading session, benchmark indices are trading positively, with the Sensex up by 0.38% and the Nifty gaining 0.33%.

Nifty Auto, Nifty Metal, and Nifty Realty are the leading sectors in positive territory, while Nifty IT and Nifty Pharma are among the top losers.

M&M, JSW Steel, and Ultratech Cement are among the top gainers, whereas Cipla, TCS, and Britannia are the leading losers from the Nifty 50.

Approximately 1438 stocks are advancing compared to 574 stocks that are declining, indicating positive sentiment in the broader market. In the broader indices, Nifty Midcap has gained 0.82%, while Nifty Smallcap has soared 1.49%.

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

1. D.P. Abhushan Ltd (Rs 1,334)
   

   D.P. Abhushan Ltd, a prominent player in the retail jewellery industry in Central India, today announced the initiation of construction for a brand-new showroom in Ajmer, Rajasthan. With 8 existing showrooms, including 4 in Madhya Pradesh (Ratlam, Bhopal, Indore, Ujjain) and 4 in Rajasthan (Udaipur, Banswara, Kota, Bhilwara), this expansion marks a significant milestone in the company’s growth strategy. Hence, given such development it warrants the inclusion tomorrow’s watchlist.

2. Dolat Algotech Ltd (Rs 156)
   

   Today, the shares of Dolat Algotech Ltd reached a new 52-week high price of Rs 156.45 signalling bullish momentum. The stock has delivered 77% returns in past 1 month. It is a trading cum clearing member of NSE India and carries on the business of securities broking and securities trading Add this stock to the watchlist.

3. The Indian Hume Pipe Company Ltd (Rs 322)
   

   The Indian Hume Pipe Company Ltd is in the business of manufacturing, laying and joining of pipelines. The Company has also been undertaking infrastructure development programmes by way of execution on turnkey basis the combined water supply projects. The company also manufactures and supplies Concrete Railway Sleepers to Indian Railways. Shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by whopping 59 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

4. MOIL Ltd (Rs 524.85)
   

   MOIL Ltd is primarily engaged in mining of manganese ore and is the largest manganese ore producer in the country. It is a miniratna state-owned company owned by Government of India. Shares of the company were locked in an upper circuit of 20% for the day indicating increased buyer interest. The stock has delivered 62.09% return in the past 1 month. Hence given such momentum, keep this stock in your radar.

5. ASK Automotive Ltd (Rs 320)
   

   ASK Automotive Ltd is a manufacturer of Advance Braking Systems for two-wheelers in India. The company is set to release its Q4FY24 results tomorrow and the stock has closed up 5% from its yesterday’s closing price. 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.