Overnight Digest: These small caps will be in focus tomorrow

On Monday, domestic equity markets ended on a positive note. Frontline indices Nifty 50 and Sensex closed at 18,308.10 and 61,308.91, recording gains of 0.29 per cent and 0.14 per cent respectively. BSE Small-cap index relatively outperformed broader markets by climbing 0.61 per cent, ending the first trading session of the week at 31,140.28.

The following small-cap stocks are likely to be in focus on Tuesday, January 18, 2022:  

Ajmera Realty & Infra India – The company has announced that it is developing the next phase of its residential project in Wadala, part of the 100 acres master layout of Ajmera i-land in Mumbai. The project has an approximately 5,00,000 sq. ft. carpet area for sale, with funding avenues for the said project coming in from a mix of internal accruals, construction finance loans from HDFC limited, and sales advances. 

With an estimated sales value of Rs 1500 crore, the project plot will comprise 540 residential flats and 18 retail shops. Construction of the project has begun and is expected to be completed in five years. The project is designed by prominent architect Hafeez Contractor.  

SVP Global Ventures – The company has informed the exchange that it will now be known as, SVP Global Textiles Ltd. The company plans to be a fully integrated textile company from fibre to fashion with a forward integration into fabric and garments. It has already declared its venture into technical textiles with a capex of Rs 100 crore in setting up a green-field facility at Jhalawar, Rajasthan with a capacity of 4,375 MT per annum. 

To quote Chirag Pittie Director of SVP Global, from a filing with the exchange, “The change of name of the company will provide it an exclusive identity of a leading textile manufacturer as we are also venturing into the complete value chain of textiles.”  

52-week High Stocks – Salona Cotspin, Khaitan Chemicals & Fertilizers, North Eastern Carrying Corporation, Precision Wires India, SPL Industries, The Ruby Mills, Metro Brands and Ginni Filaments made a fresh 52-week high today.  

These small-cap stocks will likely be in focus on Tuesday, January 18, 2022.