Stocks to watch: These small-cap stocks will be in focus on Wednesday!
The NSE's sectoral indices all closed in the green.
On Tuesday, the major equity indices finished near the day's high, with strong gains. The market closed near the day's high; the Nifty reclaimed 18k; and the Sensex went up 786 points. The NSE's sectoral indices all closed in the green.
The following Small-Cap stocks are likely to be in focus on Wednesday, November 02, 2022:
HFCL: The company announced that it has received an approval under PLI Scheme that will avail an incentive up to Rs.652.79 crores. The shares of HFCL rose by nearly 1 per cent and closed at Rs 73.40 per share. HFCL has committed an investment of about Rs 425 crore in PLI scheme for manufacturing of telecom products including 5G radio equipment, routers, switches, Wi-Fi products and backhaul radios etc.
RMC Switchgears Ltd: The company declared that it entered in a contract worth Rs 230 crores with the Maharashtra State Electricity Distribution Company Limited under the EPC Division. The project will be completed within the next 12-18 months. On the back of this news, shares of RMC switchgears have surged and locked in the upper circuit along with making a new 52-week high of Rs 284.10 per share.
Gateway Distriparks: Gateway Distriparks Limited (GDL) has agreed to buy Kashipur Infrastructure and Freight Terminal Private Limited in a share purchase agreement (SPA) (KIFTPL). In Kashipur, Uttarakhand, KIFTPL owns and operates a rail-connected inland container depot (ICD). The 41-acre facility includes three rail sidings and 17,000 square feet of warehousing space. Paper products, wastepaper, chemicals, home furnishings, handicrafts, automotive parts, poly films, soda ash and other industrial goods are among the industries targeted in the region.
Solara Active Pharma Sciences: Solara Active Pharma Sciences Limited is a leading pure play active pharmaceutical ingredient provider. The European Directorate for the Quality of Medicines (EDQM) has granted approval for the manufacturing of Ibuprofen API at Solara Active Pharma Sciences Limited's new, cutting-edge multipurpose API manufacturing facility in Vishakhapatnam, Andhra Pradesh. This is the first international regulatory approval for this facility.
52-week high stocks: Blue Star, Craftsman Automation, Ganesha Ecosphere, Safari Industries (India), and Godfrey Phillips India.
Keep an eye out for the above-listed small-cap stocks on November 02, 2022.