Overnight Digest: Top 5 mid and small-cap stocks to watch out for April 9

On Monday, the market ended on a record high, with the Sensex rising by over 0.67% to reach a new peak of 74,869.30, while the Nifty also closed higher by 0.68% at 22,697.30.

BSE-listed companies collectively reached a market capitalization of Rs 400 lakh crore for the first time.

Among sectors, Nifty Auto, Nifty Realty, Nifty Energy, and Nifty Metal performed well, while Nifty PSU Bank, Nifty Media, and Nifty IT lagged behind.

Top gainers in the Nifty 50 included Eicher Motors, Maruti, and M&M, while Adani Ports, Nestle India, and Apollo Hospitals saw declines.

In the broader market, Nifty Midcap edged up by 0.04%, and Nifty Smallcap surged by 0.32%.

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

1. Amara Raja Energy & Mobility Ltd (Rs 869.05)
   

   Amara Raja Energy & Mobility Ltd is the technology leader and is one of the largest manufacturers of lead-acid batteries for both industrial and automotive applications in the Indian storage battery industry. The shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by almost 31 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

2. KPI Green Energy Ltd (Rs 1,737.50)
   

   KPI Green Energy Ltd is part of KP Group. They develop, build, own, manage, and maintain 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. The shares of the company were locked in an upper circuit of 5% for the day indicating increased buyer interest. Hence add this stock to the watchlist.

3. Mahindra Logistics Ltd (Rs 470.10)
   

   Today, the shares of Mahindra Logistics Ltd reached a new 52-week high price of Rs 476.05, signalling bullish momentum. The company is an integrated logistics & mobility solutions provider. The company offers Supply Chain expertise to diverse industry verticals such as Automotive, Engineering, Consumer Goods, Pharmaceuticals, Telecommunications, Commodities, and E-commerce. Thus, add this stock to the watchlist.

4. Anand Rathi Wealth Ltd (Rs 3,737.35)
   

   Anand Rathi Wealth Ltd is an AMFI registered mutual fund distributor and is one of the leading non-bank wealth solutions firms in India, being ranked amongst the top three non-bank mutual fund distributors in the country. The company in a recent press release disclosed that the board will be considering buyback of shares in its board meeting scheduled on April 12, 2024. The shares of the company were up almost 3% for the day. Given this positive development keep the stock in your watchlist.

5. Shilpa Medicare Ltd (Rs 506.05)
   

   Shilpa Medicare Ltd manufactures niche APIs, intermediates, and formulations and also undertakes contract research and manufacturing service for some of its customers. The company’s Securities Issue Committee, as per board and shareholder approvals, authorized the opening of a Qualified institutions placement of equity shares today, April 8, 2024, at a floor price of Rs 477.33 per share. 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.