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

On Wednesday, benchmark indices concluded the trading day on a flat note, with the Sensex marginally declining by 0.06% to close at 73,466.39, while the Nifty closed unchanged at 22,302.50.

Nifty Auto, Nifty Energy, and Nifty Metal closed as Top gaining sectors, whereas Nifty Bank, Nifty Financial Services, and Nifty IT were among the top losers.

Hero Motocorp, BPCL, and Tata Motors were among the top gainers, while Dr. Reddy’s Laboratories, Asian Paints, and Grasim were among the top losing stocks from the Nifty 50.

About 1187 stocks advanced compared to 908 stocks that declined, indicating a positive sentiment in the broader market. Similarly, the broader market experienced substantial gains, with Nifty Midcap closing higher by 0.85%, while Nifty Smallcap surged by 0.6%.

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

1. Balaji Amines Ltd (Rs 2,312.00)
   

   Balaji Amines Ltd specialises in manufacturing Methylamines, Ethylamines, Derivatives of specialty chemicals and Pharma Excipients. It is also into manufacturing of derivatives, which are down-stream products for various pharma/pesticide industries apart from user specific requirements. Shares of the company experienced a significant surge in trading volume today, surpassing its weekly average by 23 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.

2. Transformers and Rectifiers India Ltd (Rs 604.95 )
   

   Transformers and Rectifiers India Ltd. is a manufacturer of Power, Furnace and Rectifier Transformers. Shares of the company were locked in an upper circuit of 5% for the day indicating increased buyer interest. The stock has delivered 160.02% return since year till date. Hence given such momentum, keep this stock in your radar.

3. Ingersoll Rand India Ltd (Rs 4,444.00)
   

   Today, the shares of Ingersoll Rand India Ltd reached a new 52-week high price of Rs 4,449 signalling bullish momentum. The company is engaged in the business of manufacturing and selling industrial air compressors and offers related services such as installation, commissioning and maintenance. Add this stock to the watchlist.

4. PVR INOX Ltd (Rs 1,321.95)
   

   PVR INOX Ltd, India’s leading cinema exhibitor, unveils its latest 7-screen multiplex at KOPA Mall, Koregaon Park, Pune. With a capacity for 751 guests, this upscale addition enhances PVR INOX’s footprint in Maharashtra, boasting 277 screens across 55 cinemas. This move solidifies its position in West India, with a total of 367 screens in 79 cinemas. Such expansion merits consideration for tomorrow’s stock watchlist.

5. Alkyl Amines Ltd (Rs 2103.35)
   

   Alkyl Amines Ltd is a leading manufacturer of aliphatic amines in India. Aliphatic amines are products derived from Ammonia by displacement of H2 in the Ammonia molecule by other radicals such as Methyl, Ethyl and Propyl. The company is set to release its Q4FY24 results on Thursday. The stock closed up by 4.79% 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.