Overnight Digest: These small caps will be in focus on Wednesday
Network18 Media and Investments, Times Guaranty, Accuracy Shipping, IFB Agro Industries, GOCL Corporation, Arman Financial Services and CL Educate made a fresh 52-week high today.
On Tuesday, domestic frontline indices Sensex and Nifty ended in the green territory up by approximately 0.25 per cent each respectively. BSE Mid-cap index outperformed the broader markets by climbing 169.60 points i.e. 0.65 per cent, to end at 26,147.96. Converse, BSE Small-cap index realtively underperformed by ending only 0.26 per cent higher.
The following small-cap and mid-cap stocks are likely to be in focus on Wednesday:
Tourism Finance Corporation of India – The company has recently secured Rs 65.18 crore via preferential allotment of 96,55,700 fully paid-up equity shares of the face value of Rs 10 per share at an issue price of Rs 67.50 per share including a premium of Rs 57.50 each. The financing round was led by the Promoter group. Other marquee investors included entities led by Anurag Bagaria (Chairman & CEO, Kemwell Biopharma Private Limited) and PS Jayakumar (ex-MD & CEO, Bank of Baroda).
The company will use the funds to boost its strong position in the lending ecosystem and to accelerate its strategic priorities. The company provides a long-term line of credit to tourism-related projects and has a vision to ‘play the role of an investment catalyst for the Indian tourism sector.’
To quote Anirban Chakraborty, Managing Director of TFCI from a filing with the exchange, “We at TFCI are well-capitalized with a CAR of 41.95 per cent as of June 30, 2021, and believe that our healthy financials complemented with a strong recovery path makes us well-positioned for achieving sustained growth momentum in the coming quarters as we continue to focus on business growth in diversified sectors while maintaining our leadership position in the hospitality sector.”
Sharika Enterprises – The company has announced that it has received a contract valued at Rs 42.10 crore. The contract has been awarded by General Electric Company’s India Entity - GE T and D India Limited as an associate partner.
The contract is to design, supply, install, commission and maintain Feeder Automation System as part of the Distribution Management System (DMS) to improve the reliability of the power distribution in Jammu and Kashmir. This happens to be one of the largest feeder automation contracts in the country this year.
The company has said in a filing with the exchange that, “This gives Sharika Enterprises Limited an opportunity to take forward, its commitment to ‘Make in India’ effort and look forward to manufacturing considerable part of smart feeder Automation Products in India replacing huge imports at the moment to meet the technology demand.”
52-week High Stocks – Network18 Media and Investments, Times Guaranty, Accuracy Shipping, IFB Agro Industries, GOCL Corporation, Arman Financial Services and CL Educate made a fresh 52-week high today. These small-cap stocks will likely be in focus on Wednesday, October 13, 2021.