Overnight Digest: These small caps will be in focus tomorrow

Oriental Hotels, Arihant Capital Markets, ARSS Infrastructure Projects, Hind Rectifiers, Swelect Energy Systems and Alpa Laboratories made a fresh 52-week high today.  

On Monday, the first trading day of the new calendar year, Indian equity markets witnessed bulls soaring high to end in the green territory. Frontline indices Nifty 50 and Sensex recorded gains of ~1.60 per cent, closing at 17,625.70 and 59,183.22 respectively. BSE Small-cap index relatively underperformed broader markets by rising 1.19 per cent i.e. 350.19 points ending the session at 29,807.95.  

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

Fino Payments Bank – The company has informed the exchange that it has received the RBI’s approval for commencing the International Remittance business under the Money Transfer Service Scheme (MTSS). The Bank will be undertaking inward cross-border money transfer activities and will be partnering with an overseas principal. It has also received the approval to partner with one of the largest global remittance service providers as its overseas principal.

The customer segment of Fino Bank at the middle of the pyramid is targeted to families of many of the people working in foreign countries. They typically remit money back home to meet regular family expenses. They would already be using the services of Fino Bank like micro-ATM or Aadhaar Enabled Payment Services (AEPS) in some form. With this product, they will now be able to directly withdraw money remitted by their family members abroad at the nearest Fino Bank neighbourhood merchant point.

Olectra Greentech – The company has announced that it has received a Letter of Award (LoA) from one of the state transport authorities (i.e for inter-city operations) under the FAME-II scheme of the Government of India. This order for the supply of 50 electric buses is on Gross Cost Contract (GCC)/OPEX model basis (i.e for inter-city operations) is for a period of 12 years. These buses shall be delivered in 12 months. 

The maintenance of these buses shall also be undertaken by the company contract period. Value of this contract is approximately Rs 125 crore to the company. With this, the total order book of the company for electric buses against above and earlier orders are around 1,523 electric buses after considering the deliveries already made. 

52-week high stocks – Oriental Hotels, Arihant Capital Markets, ARSS Infrastructure Projects, Hind Rectifiers, Swelect Energy Systems and Alpa Laboratories made a fresh 52-week high today.  

These small-cap stocks will likely be in focus on Tuesday, January 4, 2022.