Overnight Digest: These small caps will be in focus on Friday

On Thursday, the benchmark indices ended on a flat note with Nifty at 17,204 level and Sensex at 57,794 level. In today’s choppy session, good buying interest is seen in selected IT and pharma stocks while some selling pressure is seen in metal and real estate names. 

The global markets were mixed as investors remained cautious regarding the consequences of surging Covid 19 cases in different parts of the world. 

NTPC, IndusInd Bank, Cipla, HCL Technologies and Dr Reddy's Laboratories were among the top Nifty gainers. Losers included Bajaj Auto, JSW Steel, Reliance Industries, UPL and Tata Steel. In the broader markets, the BSE midcap index down 0.22 per cent and the small cap index ended flat.

The following small-cap stocks are likely to be in focus on Friday: 

Rama Steel Tubes – The company has recently announced that it has received a new order from Uttar Pradesh Power Corporation Limited (UPPCL), total aggregating to Rs 4.33 crore. This order is mainly for the supply of 2,500 electrical poles amounting to 580 MT. This order is in addition to the previous order received from UPPCL for 7,000 poles amounting to 1624 MT. These orders will further strengthen the company’s order book and credibility in the market. 

Gensol Engineering – The company has informed the exchange that it has received purchase orders from its reputed clients for the development of solar power projects aggregating to a capacity of around 10.7 MWp in the states of Gujarat, Karnataka and Madhya Pradesh, during December. The cumulative price of these projects is pegged at over Rs 22.5 crore exclusive of taxes. The company has said that most of the projects are for captive use of the clients, one of the projects is for third-party sale in the state of Gujarat.  As of December 29, 2021, the cumulative order book stands at more than Rs 131 crore following the closure of these projects. 

52-week High Stocks – Apollo Micro Systems, Cybertech Systems and Software, Websol Energy System, Rama Steel Tubes, Pasupati Acrylon and Patel Engineering made a fresh 52-week high today.  

These small-cap stocks will likely be in focus on Friday, December 31, 2021.