Overnight Digest: Top 5 mid and small-cap stocks to watch out for April 16

On Monday, the market ended at its lowest point in two weeks due to concerns about geopolitical tensions. The main stock indices dropped by more than 1%, with other market segments experiencing even larger declines.

The Sensex fell by 1.14% to close at 73,399.78 points, while the Nifty also decreased by 1.1% to reach 22,272.50 points. Most major sectors performed poorly, particularly Nifty Media, Nifty PSU Bank, Nifty Financial Services, and Nifty Bank.

Among individual stocks, ONGC, Hindalco, and Maruti saw gains, while Shriram Finance, Bajaj Finserv, and Wipro saw losses within the Nifty 50 index.

In the broader market, both the Nifty Midcap and Nifty Smallcap indices experienced significant declines of 1.57% and 1.73% respectively. Market breadth was skewed towards declines, with a ratio of 1:5 between advancing and declining stocks.

Here is the list of the top 5 mid and small-cap stocks to watch

1. Sula Vineyards Ltd (Rs 564.85)
   

   Today, Sula Vineyards Ltd, an Indian Wine producer and seller, announced the completion of acquisition of N D Wines Private Ltd as the company now holds 100% of the equity share capital of N D Wines Private Ltd. The company is now Sula’s wholly owned subsidiary. Given these positive development, it is prudent to closely monitor the stock.

2. Capri Global Capital Ltd (Rs 245.05)
   

   Capri Global Capital Ltd is a diversified Non-Banking Financial Company (NBFC) with a presence across diverse segments like MSME, Affordable Housing, Construction Finance segments, gold loans and Car Loan distribution. The shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by almost 33 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

3. Dredging Corporation of India Ltd (Rs 807.70)
   

   Dredging Corporation of India Ltd is engaged in providing integrated dredging services to ports, Indian Navy and other maritime organizations in India. The shares of the company were locked in an upper circuit of 5% for the day indicating increased buyer interest. The stock has delivered 23% return in past 1 month. Hence given such price momentum, keep this stock in your radar.

4. Selan Exploration Technology Ltd (Rs 596.20)
   

   Today, the shares of Selan Exploration Technology Ltd reached a new 52-week high price of Rs 625, signalling bullish momentum. The company is engaged in the business of Oil & Gas exploration and production. Additionally, Ace investor Dolly Khanna has appeared on the March 2024 shareholder list with 1.03% stake in the company. Thus, add this stock to the watchlist.

5. Den network Ltd (Rs 49.65)
   

   Den network Ltd is a mass media & entertainment company that provides visual entertainment to its customers through cable TV, over-the-top (OTT) entertainment, and broadband services. The company is set to release its Q4FY24 results on Tuesday. Thus, keep this stock in your radar.

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.