Overnight Digest: These small-caps will be in focus on Monday

BGR Energy Systems, Alpa Laboratories, Swelect Energy Systems, Ginni Filaments, Oricon Enterprises, Tokyo Plast International, and Rama Steel Tubes made a fresh 52-week high today. 

On Friday, the last trading session of the year, frontline equity benchmark indices Nifty 50 and Sensex ended in the green territory at 17,354 and 58,253.82, recording gains of 0.87 per cent and 0.80 per cent respectively. BSE Small-cap index outperformed broader markets by climbing 1.16 per cent i.e. 336.72 points to close at 29,457.56.  

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

Nitin Spinners – The company, at its recent board meeting, has approved the capacity expansion at a total cost of Rs 950 crore. The expansion is being undertaken to capture the benefit of the growing market opportunity in international as well as domestic markets and to further strengthen the market position. The Capex is targeted to be completed in the next 20 months.    

The company has said in a filing with the exchange that the capacity expansion shall happen across all the segments i.e. spinning, knitting, weaving, and finishing, at its existing plant locations. The capital expenditure will be funded through a combination of the term loans as well as internal accruals and the same is eligible for interest subsidy along with other benefits under Rajasthan Investment Promotion Scheme (RIPS).     

Steel Strips Wheels – The promoters of the company along with the persons acting in concert possess a holding of 62.77 per cent in the company. Out of which, 15.67 per cent of the total paid-up capital of the company i.e. 24.97 per cent of the total promoter shareholding were pledged. The company has informed the exchange that a portion of the pledged shares has been released. The currently reduced pledge stands at 12.26 per cent of the total paid-up capital of the company along with 19.54 per cent of the total promoter shareholding.     

52-week high stocks –BGR Energy Systems, Alpa Laboratories, Swelect Energy Systems, Ginni Filaments, Oricon Enterprises, Tokyo Plast International, and Rama Steel Tubes made a fresh 52-week high today.   

These small-cap stocks would likely be in focus on January 3, 2022 (Monday).

Wishing all readers a joyful end to 2021 and a prosperous 2022.