Overnight Digest: Top 5 Mid And Small-Cap Stocks To Watch Out For November 22, 2023

For the third day in a row, the NSE benchmark Nifty 50 index traded within the high and low of the November 16, 2023, candle. Although it moved above the November 17 high on an intraday basis, it was unable to sustain higher levels, shedding almost 45 points from the day’s high. Ultimately, Nifty 50 ended the day up by nearly 0.50%.

Speaking about the sectoral performance, the majority of the sectors ended in green, led by Nifty Metal and Nifty Realty. Meanwhile, profit booking was observed in Nifty PSU Bank, Nifty IT, and Nifty FMCG.

There wasn’t much action seen in the broader markets, as Nifty Mid-cap and Small-cap underperformed the frontline indices, with the small-cap index shedding about 0.11%.

Stock-specific action would continue in the market; hence, here are some interesting stock names from the mid and small-cap segment to keep an eye on.

Top 5 Mid and Small-Cap Stocks to Watch Out for on Wednesday, 22 November 2023:

1. Marine Electricals (India) Ltd (CMP Rs 88.70):

Marine Electricals (India) Ltd has received an order amounting to Rs. 16.50 crores (excluding GST) from Princeton Digital Group, Mumbai, for Supply, Installation, Testing & Commissioning of LT panels. The delivery shall be over a period of 3 months. The stock had pending bids of nearly 1.76 lakh shares as it closed at the upper circuit limit of the day.

2. Automotive Stampings & Assemblies Ltd (Rs 449):

Automotive Stampings & Assemblies mainly manufactures sheet-metal stampings, welded assemblies, and modules for passenger cars and commercial vehicles (largely for Tata Motors Limited); these products account for more than 95% of the total revenue. The stock witnessed a huge spurt in volume and price in the last 75 minutes of trade, with about 50% of the volume seen in the last leg of trade. Hence, this stock demands attention.

3. Dhanuka Agritech Ltd (Rs 920):

The Dhanuka Agriteck stock jumped nearly 5% on Tuesday and logged a fresh 52-week high of Rs 922. The company has an established operational track record, and its promoters have extensive experience of around three decades in the agrochemical industry. The company is one of the few scaled-up players in the industry with a healthy scale of operations and a well-entrenched distribution network spanning across the country. The company undertakes several initiatives for educating and supporting farmers, enabling the company to develop a strong brand recall among end users.

4. Dhunseri Investments Ltd (Rs 1,216.70):

The Dhunseri Investments stock was locked at an upper circuit limit of 20% for the day as it ended the day up by Rs 202.75 at Rs 1,126.70. The company is primarily engaged in investing, acquiring, and trading financial securities issued by corporates, sovereigns, states, municipalities, etc. The stock trades at a single-digit PE of 5.38x.

5. Cosmo First Ltd (Rs 623):

Cosmo Films is a leading global manufacturer of specialty films for packaging, labeling, lamination, and more. The company proudly announces its participation in two major industry events in December 2023. Cosmo Films will be showcasing its innovative products and solutions at the Paperex Exhibition scheduled between December 6-9, 2023, and Label Expo China, which is scheduled to be held between December 5-8, 2023.

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.