Overnight Digest: Top 5 mid and small-cap stocks to watch out for November 17, 2023

The Nifty 50 commenced the trading session on a subdued note, opening at 19,674.7 and later achieving a peak at 19,875.25. Despite the initial flatness, the market sustained a bullish sentiment throughout the day. However, a pullback in the second half from the day’s high was observed. Ultimately, the index concluded positively at 19,765.2, marking an 89-point increase (+0.46%) from the previous session’s close.

Top gainers like Hero Motocorp, Tech Mahindra, Infosys, HCL Tech, and TCS demonstrated notable strength. Conversely, Axis Bank, Coal India, Adani Enterprises, Tata Consumer, and ICICI Bank emerged as the top losers. The market saw 32 stocks advancing, 18 declining, and none remaining unchanged.

Turning our attention to sectoral indices, the Nifty IT and Nifty Healthcare emerged as the top-performing segments, while the Nifty PSU Bank Index and Nifty FMCG lagged. Of particular note, the Nifty IT index showcased significant resilience, accumulating more than 1400 points over the past two consecutive trading days.

In the broader market indices, the Nifty Smallcap 100 posted a 0.58% gain, influenced notably by Suzlon Energy and KEI. Meanwhile, the Nifty Midcap 100 closed up by 0.78%, primarily propelled by Coforge and KPI Industries.

Top 5 mid and small-cap stocks to watch out tomorrow, 17 November 2023:

1. RPP Infra Projects Ltd (Current Market Price: Rs 97.72): The RPP Infra Projects Ltd has successfully secured orders worth Rs 133.48 crore, receiving letters of acceptance for new projects from Rites, SRPO Bangalore, Tamil Nadu Water Supply and Drainage Board, and Chief Engineer TWAD, Thanjavur.
2. KPI Green Energy Ltd (Current Market Price Rs 1,145.65): Consider adding this stock to your watchlist as it achieved its 52-week high price today. With an impressive 150% return in the past year and compelling TTM compounded profit and sales growth of 103% and 83%, respectively, this stock warrants close attention.
3. CFF Fluid Control Limited (Current Market Price: Rs 448): The company has secured a contract for the procurement of spares of TWA MCA 62.5 System from the Indian Navy, Cpro, Material Organisation, Mumbai, totalling approximately Rs. 11.30 crore.
4. The Hi-Tech Gears Ltd (Current Market Price: Rs 496.55): This stock broke the Darvas box pattern today, experiencing significant buying interest with a 20% surge, hitting the upper circuit. The volume surged by more than 23 times, making it a strong contender for your watchlist.
5. Cressanda Solutions Ltd (Current Market Price: Rs 23.09): The Cressanda Solutions Ltd has actively participated in the Train Communications Systems Conference in London on 14th & 15th November 2023, focusing on the topic of “WiFi on Trains.” This participation aligns with the Eastern Railway Agreement for the provision of Concierge Services.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.