Overnight Digest: These small caps will be in focus on Wednesday
On Tuesday, markets were unable to hold on to their intra-day highs and witnessed a fall after a choppy session. Headline indices Nifty and Sensex ended with gains of 0.14 per cent and 0.12 per cent respectively. The BSE Smallcap index bucked the trend and jumped by 0.63 per cent to close the session at 28,042.45.
Top gainers were Zee Learn, Aarti Surfactants, Cosmo Films, Man Infraconstruction and Tamilnadu Petro-products. Top losers included Ajmera Realty, Borosil, Apcotex Industries and Liberty Shoes.
The following small-cap and mid-cap stocks are likely to be in focus on Wednesday:
SREI Infrastructure Finance – The company’s CEO Rakesh Bhutoria has resigned. The SREI group presently is in the midst of negotiations with lenders for a debt recast.
AF Enterprises – The company has qualified as an L1 bidder and has received a work order for the Financial Year 2021-22 from Uttar Pradesh State Agro Industrial Corporation Limited for the supply of plastic crates.
Bharat Wire Ropes – The company has announced that they’ve built a healthy order book of Rs 200 crore from various exports and the domestic market.
Amber Enterprises – The company has invested USD 100,000 in Amber Enterprises USA Inc. and has been allotted 100,000 common stock at a par value of USD 1 per share. Post the allotment of shares, Amber Enterprises USA Inc. is now a wholly-owned subsidiary of Amber Enterprises India Limited.
Gravita India – The company’s subsidiary situated in Mozambique, East Africa has started commercial production of Aluminium from its new recycling plant having an annual capacity of around 4,000 MTPA (Million Tonnes Per Annum). The company expects additional revenues of approximately Rs 50 crore per annum along with gross margins of close to 18 per cent from this aluminium recycling plant.
CarTrade Tech – The company has launched ‘CarWale abSure’, a tailor-made platform to provide a hassle-free buying and selling experience to customers, all under one roof.
BLS International – The company has partnered with National Health Authority as a service provider to process Ayushman Bharat Cards across India. Effective immediately, they will start processing Ayushman Bharat cards across India for the people to avail themselves of healthcare services at any of the empanelled hospitals in their respective regions. The cover includes paperless and cashless access to healthcare services for the beneficiary at the point of service in any of the empanelled hospitals.
DCM Shriram – The company is set to acquire a 50 per cent stake in Shriram Axiall Private Limited which was a 50:50 joint venture with Axiall LLC (USA) for Rs 24 crore.
52-week High Stocks – Cosmo Films, Man Infraconstruction, Solar Industries India, Sarla Performance Fibers, Seamec Limited and Akash Exploration Services have made a fresh 52-week high today. These stocks will likely be in focus on Wednesday, September 15, 2021.