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

On Tuesday, domestic frontline indices Nifty and Sensex ended the session in the red territory down by 0.60 per cent and 0.68 per cent respectively. On similar lines, BSE Small-cap index also witnessed profit booking and fell by 0.62 per cent i.e. 173.21 points to end at 27,814.98. Future Consumer, Future Retail, Stove Kraft and Finolex Industries were among the top gainers of the index. While Tube Investments, Marathon Realty and Prestige Estates were among the top losers.  

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

 Bal Pharma - The company has announced that it is further strengthening its market-leading position in Gliclazide (API) with higher capacity utilization at the existing facility and plans to streamline the new facility that commenced production of Gliclazide in September 2020. In terms of volume, Bal Pharma controls over 25 per cent of the world's Gliclazide market of 415 tonnes as per IQVIA report and is growing at the rate of 5 per cent per annum. The company is one of the largest producers and exporters of an API Gliclazide, which is used to treat type-2 diabetes. The company has a total capacity to manufacture 17.5 MT Gliclazide per month. The Company expects to achieve an average utilization of 70 per cent of its Gliclazide capacity in FY22. 

Larsen & Toubro Infotech – The company has announced that it has entered into a strategic partnership with eClinicalHealth to accelerate digital innovation in the research and development clinical trials management process for patient-centric drug development. The partnership will help clients decentralize clinical trials setting new benchmarks of excellence in the clinical research space. As part of this strategic partnership, Larsen & Toubro Infotech with its digital, technical and life sciences domain capabilities, will help accelerate joint go-to-market pursuits and faster deployment for ‘Clinpal Adopters’. 

Anupam Rasayan - The company has signed a Letter of Intent (LOI) worth Rs 145 crore with an existing long-term European multinational customer which is one of the top ten multinational companies across the globe for supplying a new life science-related active ingredient. The company will enter into a long-term contract for the next three years to supply this life science-related speciality chemical product. 

52-week High Stocks – Confidence Petroleum India, Stove Kraft, Finolex Industries, Cera Sanitaryware, Golden Tobacco and Jindal Worldwide have made a fresh 52-week high today. These stocks are likely to be in focus on Wednesday, September 29, 2021.