Overnight Digest: Top 5 mid and small-cap stocks to watch out for April 23

On Monday, the market continued its upward momentum from Friday, reaching a one-week high. The Sensex surged by 0.77%, closing at 73,648.62 points, while the Nifty also saw significant gains, rising by 0.86% to reach 22,336.40 points.

Notable gainers included Nifty PSU Bank, Nifty Pharma, Nifty Auto, and Nifty FMCG, while no major sectors underperformed.

Among individual stocks, BPCL, Tata Consumer Product, and Eicher Motors were top gainers, while NTPC, HDFC Bank, and JSW Steel faced losses.

The positive sentiment extended to the broader market, with 1571 stocks advancing compared to 539 declining stocks. Nifty Midcap surged by 0.82% and the Nifty Smallcap by 1.31%.

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

1. Cyient DLM Ltd (Rs 669.80)
   

   Cyient DLM Ltd has been a trusted electronics and mechanical manufacturing partner and systems supplier to some of the largest players across multiple industries. The company is set to release its Q4FY24 financial results on April 23. Thus, keep this stock in your radar.

2. Triveni Engineering and Industries Ltd (Rs 359.90)
   

   Triveni Engineering and Industries Ltd is an Integrated and diversified conglomerate in areas of sugar, ethanol and engineering. The shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by almost 23 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

3. Sandur Manganese & Iron Ores Ltd (Rs 493.30)
   

   Sandur Manganese & Iron Ores Ltd, the flagship company of the Karnataka based Sandur Group is involved in mining of low phosphorous manganese and iron ore in the Hosapete Ballari region of Karnataka. Shares of the company were locked in an upper circuit of 5% for the day indicating increased buyer interest. The stock has delivered 35% return in past 1 month. Hence given such price momentum, keep this stock in your radar.

4. Va Tech Wabag Ltd (Rs 1,005.15)
   

   Today, the shares of Va Tech Wabag Ltd reached a new 52-week high price of Rs 1,017.05, signalling bullish momentum. The company is engaged in the business of water treatment field. Its principal activities include design, supply, installation, construction and operational management of drinking water, waste water treatment, industrial water treatment and desalination plants. Add this stock to the watchlist.

5. Nelco Ltd (Rs 793.65)
   

   Nelco Ltd, a part of Tata Group, started in 1940 as a electronics company. Nelco offers solutions in areas of VSAT connectivity, Satcom Projects and Integrated Security & Surveillance Solutions. The company is set to release its Q4FY24 results on Tuesday and the stock closed up 6.92% for the day. 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.