Overnight Digest: Top 5 mid and small-cap stocks to watch out for March 6

On Tuesday, major stock market indexes traded within a narrow range but ended a four-day winning streak. The Sensex closed slightly down by 0.26% at 73,677.14 points, while the Nifty also dropped by 0.22% to 22,356.30 points.

Bloomberg included India in its Emerging Markets bond index. Among sectoral indices, Nifty PSU Bank, Nifty Auto, and Nifty Energy saw gains, while Nifty IT, Nifty Media, and Nifty FMCG saw losses.

Top gainers in the Nifty 50 included Tata Motors, Bharti Airtel, and Bajaj Auto, while Bajaj Finserv, Bajaj Finance, and Nestle India were among the top losers.

Market sentiment was negative, with more stocks declining (1527) than advancing (745).

The broader market didn’t perform well either, with the Nifty Midcap falling by 0.27% and the Nifty Smallcap plunging by 1.24%.

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

1. CSB Bank Ltd (Rs 369.2)

   CSB Bank Ltd is engaged in the business of banking Services, the oldest private sector bank in India with a history of over 98 years, and a strong base in Kerala, the bank focuses on SME, retail, and NRI customers. 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.

2. Schneider Electric Infrastructure Ltd (Rs 692.55)

   Schneider Electric Infrastructure Ltd is engaged in the business of manufacturing, designing, building and servicing technologically advanced products and systems for the electricity network. The shares of the company were locked in an upper circuit of 5% for the day and have delivered returns of 68.9% year to date indicating bullish momentum. Hence add this stock to the watchlist.

3. Kirloskar Brothers Ltd (Rs 1,084.25)

   Shares of Kirloskar Brothers Ltd reached a new 52-week high price of Rs 1,147.15 today. The company is engaged in the business of engineering and manufacturing systems for fluid management. The core businesses include large infrastructure projects (Water Supply, Power Plants, and Irrigation), Pumps, Valves, Motors and Hydro turbines. Thus keep this stock on the watchlist.

4. Marine Electricals India Ltd (Rs 106.15)

   Marine Electricals India Ltd is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions. The company has received an order amounting to Rs. 39.53 crores (excluding taxes) from TATA Projects Limited for Installation, Testing and commissioning of BUSDUCT and BUSBAR Trunking system for Micron Pioneer Projects, Sanand Gujarat. Hence keep this stock on your watchlist.

5. Happiest Minds Technologies Ltd (Rs 827.9)

   Happiest Minds Technologies Ltd, a ‘Born Digital. Born Agile’, Mindful IT Company, today announced that it has been recognized by Zinnov as a ‘Niche & Established’ player for Gen-AI Engineering Services as part of the Zinnov Zones Digital Engineering and ER&D Services Ratings 2023. Given this positive development keep this stock in your watchlist.

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.