Overnight Digest: These small caps will be in focus on Friday
Mahanagar Telephone Nigam, BCL Industries, Rajdarshan Industries, Bedmutha Industries, PDS Multinational Fashions, Alicon Castalloy and Tanla Platforms made a fresh 52-week high today.
On Thursday, headline equity indices Nifty and Sensex ended the session in the green territory with gains of 0.27 per cent each, amid a choppy trading session. Nifty Bank corrected by 0.54 per cent to close at 37,082.4. BSE Small-cap index outperformed broader markets by gaining 0.80 per cent to close at 29,014.46.
The following small-cap stocks are likely to be in focus on Friday:
Sinclairs Hotels – The company has announced that it has signed an agreement to acquire on lease an 18 room brand new boutique property in Yangang, Sikkim. This property in South Sikkim will be the ninth property in the Sinclairs chain and its second property in Sikkim. Spread over one acre of land, the property has a picturesque location with a panoramic view of the Maenam Hills popularly known as Bhalay-Dhunga.
The Sikkim Government is building a Ropeway to the famous Bhalay-Dhunga cliff, where a Sky Walk at a height of around 10,000 feet, the first of its kind in India is being constructed. The company is targeting to commence operations from April 2022, to take advantage of the high summer season.
Jindal Stainless – KfW IPEX-Bank is providing USD 82 million in financing to support Austrian companies Primetals Technologies Austria GmbH and Andritz AG in supplying products and services to Jindal Stainless Limited (JSL).
Jindal Stainless is procuring capital equipment from Europe as part of its plan for an expansion of its production facilities in Jajpur in the Indian state of Odisha. The expanded facility is expected to increase stainless steel production capacity from 1.1 million tons per annum (MTPA) to 2.1 MTPA. Part of this capacity expansion is a new facility for producing and casting stainless steel. Additionally, a new combo line – or direct rolling, annealing and pickling line – will be installed to increase the cold rolling mill capacity.
52-week High Stocks – Mahanagar Telephone Nigam, BCL Industries, Rajdarshan Industries, Bedmutha Industries, PDS Multinational Fashions, Alicon Castalloy and Tanla Platforms made a fresh 52-week high today. These small-cap stocks will likely be in focus on Friday, December 10, 2021.