Overnight Digest: Top 5 Mid And Small-Cap Stocks To Watch Out For May 23

On Wednesday, the market closed largely higher amid volatility, with the Nifty above 22,600. The Sensex saw a moderate gain of 0.36%, closing at 74,221.06, while the Nifty increased by 0.31%, ending at 22,597.80.

Nifty FMCG, Nifty Realty, and Nifty Energy closed positively, whereas Nifty Metal, Nifty Bank, and Nifty Financial Services underperformed.

Among the top gainers were Cipla, Hindustan Unilever, and Tata Consumer Products, while Shriram Finance, SBI, and Apollo Hospitals were the top losers from the Nifty 50.

Approximately 1,017 stocks advanced, compared to 1,081 that declined, indicating a slight negative sentiment in the broader market. The broader market showed mixed performance, with the Nifty Midcap closing higher by 0.19%, while the Nifty Smallcap declined by 0.35%.

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

Bajel Projects Ltd (Rs 267)

Bajel Projects Ltd is a carved out legal entity from Bajaj Electricals Ltd. It’s EPC segment comprises of Power Transmission & Power Distribution. BPL provides end to end solutions ranging from inhouse design, testing, procurement, manufacturing, installation & commissioning of the projects.The company is set to release its Q4FY24 results tomorrow and the stock has closed up 3.37% from its yesterday’s closing price. Given this positive development, it is prudent to closely monitor the stock.

BEML Ltd (Rs 4,550)

Today, the shares of BEML Ltd reached a new 52-week high price of Rs 4,680 signalling bullish momentum. The stock has delivered 31.42% returns in past 1 month. The company manufactures a wide range of heavy earthmoving equipment catering to the mining and construction industry, vehicles for defense forces and coaches for the metro and Indian Railways. Add this stock to the watchlist.

Walchandnagar Industries Ltd (Rs 220.60)

Walchandnagar Industries Ltd is a Heavy Engineering and Project execution company and has diversified business offerings across core sectors with focus on EPC / Turnkey Projects, Hi Tech Manufacturing, Engineering Products and Engineering Services. Shares of the company were locked in an upper circuit of 5% for the day indicating increased buyer interest. The stock has delivered 17.34 % return for the year till date. Hence given such momentum, keep this stock in your radar.

PNC Infratech Ltd (Rs 517.80) 

PNC Infratech Ltd is one of the front-ending infrastructure development, construction, and management companies in the country. The company undertakes infrastructure projects, including highways, bridges, flyovers, power transmission lines and towers, airport runways, industrial area development, and other infrastructure activities. Shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by 24 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

Puravankara Ltd (Rs 451.90)

Puravankara Ltd is in the business of development and sale of real estate. It operates in metro cities like Bengaluru, Hyderabad, Chennai, Kolkata, Mumbai, Pune and Goa. The stock has delivered 140% return for the year till date. The company is set to release its Q4FY24 results tomorrow. Hence, keep this stock in 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.