Overnight Digest: Top 5 mid and small-cap stocks to watch on November 7, 2023

The Nifty 50 index had quite a day, starting strong with an impressive gap-up at 19,345.85 and reaching a peak at 19,423.00. It had its low point at 19,309.7 but ultimately wrapped up the day at 19,411.75, marking a significant climb of 181.15 points or 0.94% from the previous day’s close.

The day’s price action told a bullish story, hinting at a substantial market rebound. Among the Top winners today were Divis Labs, Eicher Motors, Hero Motocorp, Larsen and Toubro, and Axis Bank. On the flip side, the State Bank of India, Hindustan Unilever, Cipla, Tata Motors, and Titan were the top losers.

In the sectoral landscape, all indices concluded in positive, demonstrating a bullish momentum. Notably, Nifty Oil and Gas and Nifty Pharma secured the top positions, both registering a gain of 1.28%, underscoring the strength in these sectors.

Turning our attention to the broader market, Nifty Smallcap 100 stood out with a solid 1.39% gain, while Nifty Midcap 100 also posted a positive close, albeit with a slightly more modest gain of 0.88%.

Top 5 mid and small-cap stocks that deserve your attention this Tuesday:

1. Transport Corporation of India Ltd (CMP Rs 879.9): Marking an all-time high today at Rs 890, this stock delivered a noteworthy 8.81% return to investors for the day. The company’s three-year sales and profit growth figures stand at 12% and 29%, respectively, further substantiating its presence on your watchlist for the upcoming trading session.
2. Cantabil Retail India Ltd (CMP Rs 208.5): Founded in 1989, Cantabil Retail India Ltd has ventured into the realm of manufacturing and retailing readymade garments. In a press release, the company announced the addition of new product categories, including footwear and athleisure wear, coinciding with the grand opening of a new showroom in Hapur, Uttar Pradesh. Be sure to incorporate this stock into your watchlist.
3. Neuland Laboratories Ltd (CMP Rs 4,038.45): The company is scheduled to unveil its Q2FY2024 results on November 7, during market hours. Notably, Foreign Institutional Investor (FII) holdings have surged from 17.68% in September 2022 to 21.67% in September 2023, making this stock an intriguing addition to your watchlist.
4. Dilip Buildcon Ltd (CMP Rs 326.6): Preparing to release its Q2FY2024 results on November 7, this company has provided investors with a substantial 43% return over the past year. Thus, it warrants careful observation.
5. Chembond Chemicals (CMP Rs 442.45): Achieving a new 52-week high today at Rs 445.20 and closing with an impressive 20% gain, this stock witnessed a remarkable surge in trading volume, exceeding expectations. This performance is a noteworthy indicator for inclusion in your watchlist.

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.