Overnight Digest: These small caps will be in focus tomorrow

Overnight Digest: These small caps will be in focus tomorrow

Armaan Madhani
/ Categories: Trending, Mindshare

Nahar Capital and Financial Services, Compuage Infocom, Lagnam Spintex, Manaksia Steels, Banswara Syntex, Mirza International, Kothari Petrochemicals and Nahar Poly Films made a fresh 52-week high today.

On Thursday, Indian equity markets bore the brunt of weak global cues and hawkish minutes from the US Federal Reserve’s latest meeting, released yesterday. Headline benchmark indices Nifty 50 and Sensex fell by 1 per cent each, ending the choppy session at 17,754.90 and 59,601.84, respectively. BSE Small-cap index closed flat at 29,904.78.   

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

ADF Foods – The company has announced that it has received approval from the Government of India under Category III (incentive for branding and marketing expenditure abroad) of the Production Linked Incentive Scheme for Food Processing Industries. This will assist the company in augmenting its export sales through increased branding expenditure. 

The company would be extended a financial incentive at 50 per cent of budgeted outlay on international branding and marketing expenditure or 3 per cent of sales of food products whichever is lower subject to a maximum incentive of Rs 61.35 crore during the scheme tenure from FY21-22 to FY25-26. 

Garment Mantra Lifestyle – The company has recently announced that it is going to set up a new centralized integrated facility in Surat, Gujarat to efficiently cover the western region and scale up the operations of Poorti (textile wholesale surplus division) and also give an impetus to ‘Price Mantra’ (apparel convenience store) which will strengthen their brand visibility in the region. 

The proposed integrated facility will scale up business operations and is expected to add to the company’s revenue in a more significant manner in the next two years and further promote brand loyalty by catering to a large customer base. The facility extends up to approximately 10,000 square feet of area and is equipped with modern facilities to manage operations efficiently. The management of the company expects to commence operations in this quarter i.e. Q4FY22. 

52-week High Stocks – Nahar Capital and Financial Services, Compuage Infocom, Lagnam Spintex, Manaksia Steels, Banswara Syntex, Mirza International, Kothari Petrochemicals and Nahar Poly Films made a fresh 52-week high today.  

These small-cap stocks will likely be in focus on Friday, January 7, 2022.   

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