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

Palred Technologies, Sarthak Metals, Nitiraj Engineers, SBC Exports, Marshall Machines and Greenlam Industries made a fresh 52-week high today

On Friday, Indian equity markets witnessed a sharp correction on account of new coronavirus variants. Headline indices Nifty and Sensex plunged 2.91 per cent and 2.87 per cent to close the session at 17,026.50 and 57,107.15 respectively. Nifty Bank index slipped 3.58 per cent to end at 36,025.50. BSE Small-cap index lost 751.34 points i.e. 2.61 per cent amid a volatile trading session. 

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

 Aurionpro Solutions – The company has announced that it has entered into a definitive agreement for the acquisition of a majority stake (i.e. 51 per cent) in Toshi Automatic Systems Pvt Ltd (“TASPL”), a Ghaziabad based company that is an innovator with products and solutions in Industrial, Public Safety, Mass Transit segments. 

TASPL is a leading manufacturer and supplier of automatic gates required in BRTS, Metro and Airport Transit projects and has a large manufacturing plant at Ghaziabad, Uttar Pradesh. It has an established track record of successfully manufacturing, delivering, commissioning and servicing multiple projects in the public transportation domain. The transaction will be funded through internal accruals.  

Ramkrishna Forgings – The company has recently announced that it has won a domestic order worth Rs 90 million (i.e. USD 1.2 million) from a Multinational Oil and Gas Tier-1 component supplier in India. This order validates the company’s oil and gas technical capabilities and marks our entry into a new product category. 

To quote Lalit Khetan, Executive Director and CFO, Ramkrishna Forgings Limited from a filing with the exchange, “We are also expecting an additional order of approximately USD 2.50 million during the current fiscal year which improves revenue visibility for the segment. This order win is in line with our strategy to strengthen our non-auto business and new product offerings that will enable us to increase content per vehicle and sustainably improve our profitability in the future.” 

52-week High Stocks – Palred Technologies, Sarthak Metals, Nitiraj Engineers, SBC Exports, Marshall Machines and Greenlam Industries made a fresh 52-week high today. These small-cap stocks will likely be in focus on Monday, November 29, 2021.