Overnight Digest: Small and Mid-Cap Stocks to Watch on October 13, 2023

On October 12, 2023, the Nifty50 index opened almost flat at approximately 19,822.70 and maintained a range-bound trading pattern throughout the session. The index concluded at 19,794.00, marking a slight dip of 17.35 points (-0.09%) from the previous day’s closing figure. The day’s trading saw the index reach a low of 19,772.65 and a high of 19,843.30.

Top Gainers:

BPCL

Maruti

Coal India

Powergrid

Top Losers:

Infosys

Tech Mahindra

TCS

Apollo Hospitals

Diverse sector performances influenced the overall market dynamics. Bank Nifty, Nifty Energy, and Nifty Metal indices exhibited provisional gains during the day. However, the Nifty IT sector experienced a decline of 544.45 points, primarily due to the underperformance of TCS, which exerted downward pressure on the IT index. Notably, six of the top 10 losers in the Nifty 50 index were IT stocks.

In parallel, Nifty SmallCap 100 showed a gain of 0.65%, while Nifty Midcap 100 registered a 0.17% increase.

Here are the top 5 Midcap and Smallcap stocks to keep an eye on:

Sunteck Realty Ltd (CMP – Rs. 468.8)

Sunteck Realty Limited, a Mumbai-based luxury real estate developer, has achieved a remarkable GRESB (Global Real Estate Sustainability Benchmark) Assessment score of 95, securing a prestigious 5-star rating. This places Sunteck Realty among the top 20% of benchmark performers in ESG dimensions.

Associated Alcohols & Breweries Ltd. (CMP – Rs. 503.8)

This stock is trading at its 52-week high with increased trading volumes, indicating bullish momentum. It’s advisable to monitor this stock closely.

RMC Switchgears (CMP – Rs.770)

The company has announced the allotment of Bonus Equity Shares in a 1:2 ratio, meaning one new equity share of Rs. 10/- each for every two existing equity shares of Rs. 10/- each to shareholders holding shares as of the Record Date, which is October 13, 2023.

Den Networks Ltd. (CMP – 54.15)

The company is trading near its 52-week high and is expected to release its Q2FY2024 results on October 13, 2023. It is advisable to keep a close watch on this stock.

Som Distilleries and Breweries Ltd. (CMP – Rs. 357.95)

This stock is trading near its all-time high of Rs. 390, experiencing a marginal 8.9% decline. The company is set to announce its quarterly results tomorrow.

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.