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

Arihant Foundations and Housing, Ugro Capital, Transport Corporation of India, Mukta Arts, AMD Industries, Sangam (India), Art Nirman, Oriental Hotels and Rajnandini Metal made a fresh 52-week high today.

On Wednesday, post a volatile session, headline benchmark indices Sensex and Nifty ended with losses of 0.74 per cent and 0.83 per cent. Consumer durables, metal and utility stocks saw steep corrections. BSE Smallcap cap index fell by 683.87 points i.e. 2.31 per cent to end at 28,878.73.   

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

Intellect Design Arena – Intellect Global Transaction Banking (iGTB), the transaction banking specialist from the company has recently announced that Jordan-headquartered Jordan Kuwait Bank (JKB) has signed a transformative deal with iGTB to digitize and streamline its transaction banking offerings. This is the third major digital transformation deal in Jordan for iGTB, making it a significant 50 per cent coverage amongst active transaction banks in the country. 

iGTB’s integrated transaction banking platform enables banks to be disruptive in the digital financial industry through its fully integrated transaction banking platform. Leveraging the platform, Jordan Kuwait Bank will be able to offer seamless digital experiences across the corporate financial supply chain. 

Ramkrishna Forgings – The company has announced that it has won an order worth more than USD 7 million per annum in the mining and earthmoving segment for the supply of engine components to one of the biggest engine component manufacturers in the world. 

Lalit Khetan, Executive Director and CFO of Ramkrishna Forgings states in a filing with the exchange, “This order win further substantiates our technical capabilities for mining and earthmoving segment. With this order win, we can further strengthen our presence in this segment and we are very optimistic that this segment will grow with current buoyancy in the sector.”   

52-week High Stocks – Arihant Foundations and Housing, Ugro Capital, Transport Corporation of India, Mukta Arts, AMD Industries, Sangam (India), Art Nirman, Oriental Hotels and Rajnandini Metal made a fresh 52-week high today. These small-cap stocks will likely be in focus on Thursday, October 21, 2021.