Overnight Digest: Top 5 mid and small-cap stocks to watch out for February 13

On Monday, the primary stock market indices ended the trading session on a downward trend, unable to sustain the early gains as selling pressure intensified across the broader markets, particularly impacting public sector undertakings (PSUs).

The Sensex, representing the top companies on the stock exchange, closed lower by 0.73%, settling at 71,072.49 points, while the Nifty, which tracks the performance of the top 50 companies, fell by 0.76%, closing at 21,616.05 points.

In terms of individual stock movements, Dr. Reddy’s Laboratories, Apollo Hospitals, and Divi’s Laboratories were notable gainers, while Coal India, Hero Motocorp, and BPCL faced significant losses among the Nifty 50 constituents. Sectors like Information Technology (IT) and Pharmaceuticals performed relatively better, while Media, PSU Banks, Realty, and Energy sectors witnessed notable declines.

PSU companies collectively witnessed a substantial erosion in market capitalization, losing more than Rs 3.5 lakh crore in value during the trading session. Additionally, four out of the top five losers in the Nifty were PSU stocks, including Coal India, BPCL, ONGC, and NTPC.

The broader market also mirrored the negative sentiment, with the Nifty Midcap index closing significantly lower by 2.48%, and the Nifty Smallcap index witnessing an even steeper decline of 4.01%.

Here is the list of the Top 5 Mid and Small-cap stocks to watch

1. Rane Madras Ltd (Rs 838.25)
   Rane (Madras) Ltd. was founded in 1929, it manufactures steering and suspension linkage products, steering gear products and specialised aluminium high-pressure die-casting products and provides connected mobility solutions. The stock experienced a significant surge in trading volume today, surpassing its weekly average by almost 50 times. Considering this positive signal, it’s advisable to consider adding this stock to your watchlist.
2. Jubilant Industries Ltd (Rs 722.15)
   Jubilant Industries Ltd is engaged in the business of Manufacturing Agri Products and Performance Polymers through its wholly owned subsidiary Jubilant Agri and Consumer Products Limited (JACPL). Today, the shares of the company were locked in an upper circuit of 20% showcasing strong bullish momentum. Hence it is a potential contender for the watchlist.
3. Fineotex Chemicals Ltd (Rs 391.3)
   Fineotex Chemicals Ltd has reached its new 52-week high price of Rs 409.20. The company is engaged in the business of manufacturing auxiliaries and speciality chemicals for textiles, construction, water treatment, fertilizer, leather, and paint industries. Add the stock to the watchlist.
4. Antony Waste Handling Cell Ltd (Rs 488.4)
   Antony Waste Handling Cell Ltd is set to release its Q3FY2024 results on February 13. Thus, it is advisable to add this stock to the watchlist. The company is engaged in the business of mechanical power sweeping of roads, collection and transportation of waste, waste to energy projects and undertaking the designing, construction, operation and maintenance of the integrated waste management facility in Kanjurmarg, Mumbai.
5. Prakash Pipes Ltd (Rs 415.85)
   Prakash Pipes Ltd is engaged in the manufacturing of PVC pipes & fittings and packaging products. It was incorporated in June 2017 and created out of a demerger from Prakash Industries Limited. The company is set to release its Q3FY2024 results on February 13. Thus, it is advisable to add this stock to the watchlist.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.