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

Bigbloc Construction Limited, TV Today Network, Sirca Paints India, Indo Thai Securities, S. P. Apparels, TCNS Clothing and TD Power Systems made a fresh 52-week high today.

On Tuesday, markets ended in the red, post a volatile trading session. BSE Sensex fell by 396.34 points i.e. 0.65 per cent to end at 60,322.37. On the contrary, BSE Small-cap index gained 0.18 per cent to end at 29,228.34. TV Today Network, JBM Auto, Greaves Cotton and TD Power System were among the top small-cap gainers during the session. 

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

Hilton Metal Forging – The company has recently announced that it has become the first company MSME to develop, receive approval and supplied 100 per cent indigenous Solid Forged Railway Wheels (Narrow Gauge). The Forged IR Bogies Railway Wheels are also being in demand due to short supply as pure import substitutes and the annual demand for wheels amounts to Rs 300 Crore. These wheels are very complex to manufacture and there are very few players globally to develop these wheels. 

To quote Mr Yuvraj Malhotra, Chairman and Managing Director of Hilton Metal Forging form a filing with the exchange, “Developing solid forged railway wheels is a very big achievement for us. We became the first Indian MSME company to do so. We have supplied our first consignment of wheels duly inspected and approved by “RITES” We are also developing an alternate source for the imports of LHB Wheels. It is the beginning of a new era not only for Hilton but also for Indian Railways as dependency on imported products end.” 

Shalimar Paints – The company has recently declared its unaudited financial statements for the quarter ended September 30, 2021. The company has reported strong growth in the revenue on the back of good demand from both industrial and decorative segments during the quarter. Revenues for Q2FY22 stood at Rs 90.9 crore as compared to Rs 76.8 crore in Q2FY21 and 65.2 crore in Q1FY21. 

The festive season augured well for the company resulting into sales volume growth of 29 per cent compared to the last quarter and did similar level of volumes compared to same period last year.  During the quarter, the company has also taken a price hike of approximately 40 per cent compared to the last quarter and 20 per cent compared to same period last year to partially offset the increase in the raw material prices.   

52-week High Stocks – Bigbloc Construction Limited, TV Today Network, Sirca Paints India, Indo Thai Securities, S. P. Apparels, TCNS Clothing and TD Power Systems made a fresh 52-week high today. These small-cap stocks will likely be in focus on Wednesday, November 17, 2021.