On Thursday, the market reached a record high after the RBI announced its highest-ever dividend for the government. The Sensex rose by 1.61% to close at 75,418.04, and the Nifty increased by 1.33% to finish at 22,898.70. The market cap of BSE-listed companies hit a record Rs 420 lakh crore.
Nifty Auto, Nifty Bank, and Nifty Financial Services performed well, while Nifty Pharma lagged.
Top gainers included Adani Enterprises, Adani Ports, and L&T, while Sun Pharma, Power Grid, and Hindalco were the top losers on the Nifty 50.
Despite 971 stocks advancing and 1,126 declining, indicating overall negative sentiment, the broader market saw gains with Nifty Midcap up 0.43% and Nifty Smallcap rising by 0.18%.
Here is the list of the top 5 mid and small-cap stocks to watch
Today, the shares of Max Estates Ltd reached a new 52-week high price of Rs 388 signalling bullish momentum. The stock has delivered 26.32% returns in past 1 month. It is the real estate arm of the Max Group. With the purpose of ‘Enhancing Quality of Life through spaces it creates’, it has chosen to create premium commercial and residential spaces in Delhi NCR. Add this stock to the watchlist.
D.B. Corp Ltd is engaged in the business of publishing newspapers, radio broadcasting, providing integrated internet and mobile interactive services and event management. Its major brands include Dainik Bhaskar, Divya Bhaskar, Saurashtra Samachar and Divya Marathi. Shares of the company were locked in an upper circuit of 5% for the day indicating increased buyer interest. The stock has delivered 14.10% return for the year till date. Hence given such momentum, keep this stock in your radar.
Precision Camshafts Ltd is manufacturer and supplier of camshafts in India and globally. It supplies more than 150 varieties of camshafts for passenger vehicles, tractors, light commercial vehicles and locomotive engine applications. Shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by 25 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.
Navin Fluorine Advanced Sciences Ltd, a wholly-owned subsidiary of Navin Fluorine, has signed a five-year Material Supply Agreement to provide a fluoro intermediate for a patented agrochemical product by a Japanese company. This project, with an investment of Rs 15 crore funded through internal accruals, is expected to generate Rs 20-30 crore in annual incremental revenue and will be operational within 12 months, strengthening product offerings and expanding the customer base in new markets. Hence, keep this stock in your watchlist.
Happy Forgings Ltd is an Indian manufacturer specializing in designing and manufacturing heavy forgings and high-precision machined components. The company is set to release its Q4FY24 results tomorrow and the stock has closed up 3.69% from its yesterday’s closing price. Given this positive development, it is prudent to closely monitor the stock.
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.
Published on: May 23, 2024, 5:36 PM IST
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