Overnight Digest: Top 5 mid and small-cap stocks to watch out for May 7

On Monday, the stock market mostly went down with a lot of ups and downs. The Sensex, which tracks 30 large companies, went up slightly by 0.02% and closed at 73,895.54 points. On the other hand, the Nifty, which follows 50 major companies, went down by 0.15% and ended at 22,442.70 points.

Some sectors like real estate, IT, FMCG, and pharmaceuticals saw gains, while others like PSU banks, media, energy, and metal companies experienced losses. The RBI’s proposed rules on lending for infrastructure projects dragged down the stocks of public sector companies, as well as PSU banks and public sector enterprises, causing their indices to fall by 3-4%.

Among individual stocks, Britannia, Kotak Bank, and TCS did well, while Titan, Adani Enterprises, and BPCL didn’t perform as well.

More stocks fell than rose, with 552 advancing and 1576 declining. This indicates a negative feeling in the overall market sentiment. In the broader market, the Nifty Midcap, which tracks medium-sized companies, went down by 0.54%, while the Nifty Smallcap, which follows smaller companies, dropped by 1.5%.

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

1. Asahi India Glass Ltd (Rs 640.20)
   

   Asahi India Glass Ltd is India’s leading value-added and integrated glass solutions company and a dominant player both in the automotive and architectural glass segments. The shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by 32.4 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

2. Hindustan Motors Ltd (Rs 42)
   

   Hindustan Motors Ltd manufactures and sells vehicles, spare parts of vehicles, steel products and components. It also does trade of spare parts of vehicles. Shares of the company were locked in an upper circuit of 5% for the day indicating increased buyer interest. The stock has delivered 115.9% return since past 1 month. Hence given such momentum, keep this stock in your radar.

3. Bigbloc Construction Ltd (Rs 264.55)
   

   Today, the shares of Bigbloc Construction Ltd reached a new 52-week high price of Rs 270, signalling bullish momentum. The company is primarily engaged in manufacture, sale and marketing of AAC (Aerated Autoclaved Concrete) Blocks. . Add this stock to the watchlist.

4. BASF India Ltd (Rs 4,271.25)
   

   Consider adding BASF India Ltd to your watchlist for tomorrow. The chemical company’s launch of Efficon Insecticide, powered by Axalion Active, underscores its commitment to Indian farmers. Efficon belongs to a novel class of insecticides with potent control over piercing and sucking pests. Its unique mode of action effectively targets multiple life stages of pests like Aphids, Jassids, and White flies, providing swift cessation of feeding and long-lasting residual control. Given its innovative chemistry and potential impact on agricultural solutions, BASF India Ltd warrants inclusion in tomorrow’s stock watchlist.

5. Suraj Estate Developers Ltd (Rs 430.80)
   

   Suraj Estate Developers Ltd is a real estate construction company that develops residential and commercial real estate in the South-Central Mumbai region. The company is set to release its Q4FY24 results on Tuesday. The stock closed up by 6.12% today. 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.