Overnight Digest: Top 5 mid and small-cap stocks to watch out for April 25

On Wednesday, the market closed with gains for the 4th consecutive session, with the Nifty holding at 22,400 points. The Sensex rose marginally by 0.16%, ending at 73,852.94 points, while the Nifty saw a slight increase of 0.15%, closing at 22,402.40 points.

Market volatility, as measured by the India VIX, increased by 1.5%, indicating higher fluctuations in the market.

In terms of sectors, Nifty Metal, Nifty Realty, Nifty Pharma, and Nifty Financial Services performed well, while Nifty IT, Nifty Media, Nifty PSU Bank, and Nifty Auto witnessed declines.

Top gainers included Hindalco, Cipla, and JSW Steel, while Tata Consumer Product, Grasim, and Tech Mahindra were among the top losers in the Nifty 50 index.

The overall market sentiment remained positive, with 1,303 stocks advancing compared to 783 declining stocks. Additionally, the broader market showed strength, with Nifty Midcap rising by 0.76% and Nifty Smallcap gaining by 0.36%.

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

1. SKM Egg Products Export India Ltd (Rs 306.15)
   

   SKM Egg Products Export India Ltd is engaged in the manufacture and sale of egg powder and liquid egg with varieties of blends used in various segments of the food industry and in the health sector. The shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by almost 18.6 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

2. KPI Green Energy Ltd (Rs 2,008.75)
   

   KPI Green Energy Ltd develops, builds, owns, manages, and maintains renewable power facilities (solar and wind solar hybrid power project) as an Independent Power Producer (IPP) and as a service provider to Captive Power Producers (CPPs) under the ‘Solarism’ brand. Shares of the company were locked in an upper circuit of 5% for the day indicating increased buyer interest. The stock has delivered 29.6% return in past 1 month. Hence given such momentum, keep this stock in your radar.

3. Chennai Petroleum Corporation Ltd (Rs 1,075)
   

   Today, the shares of Chennai Petroleum Corporation Ltd reached a new 52-week high price of Rs 1,098.65, signalling bullish momentum. The company is in the business of refining crude oil to produce & supply various petroleum products and manufacture and sale of lubricating oil additives. Add this stock to the watchlist.

4. ASK Automotive Ltd (Rs 316.30)
   

   ASK Automotive Ltd, India’s largest manufacturer of Brake Shoes and Advanced Braking Systems for Two‐Wheelers, announced a Landmark Joint Venture Agreement with AISIN Group Companies, comprising AISIN Asia (Thailand) Co Ltd and AISIN Automotive Haryana Private Limited, to market and sell the Auto Components in Independent Aftermarket for Passenger Car Product. Thus, keep this stock in your radar.

5. Glenmark Life Sciences Ltd (Rs 826.05)
   

   Glenmark Life Sciences Ltd, a subsidiary of Glenmark Pharmaceuticals Ltd, is one of the leading developers and manufacturers of select high-value Active Pharmaceutical Ingredients. The company further operates in Contract Development and manufacturing operations to offer services to specialty pharmaceutical companies. The company is set to release its Q4FY24 results on Thursday. Given this 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.