Stocks to watch: These small-cap stocks will be in focus on Tuesday!
The following Small-Cap stocks are likely to be in focus on Tuesday, October 03, 2023
In Friday's trading session, both the Sensex and Nifty closed positively, with the Sensex gaining 0.49 per cent and the Nifty surging by 0.59 percent. This positive sentiment extended to broader indices, where the Nifty Midcap rose by 1.08 per cent, and the Nifty Smallcap recorded a notable 0.99 per cent increase.
In the Nifty 50 index, Top Gainers included Hindalco, NTPC, and Hero Motocorp, while Adani Enterprises, LTIMindtree, and HCL Tech faced losses.
However, there's an air of uncertainty due to discussions about a potential US government shutdown. Observing how this unfolds in upcoming trading sessions will be intriguing.
If a US government shutdown occurs, especially given recent Republican Party developments, US stocks may face brief selling pressure. Although the Indian stock market might experience short-term fluctuations in response to US market movements, it's expected to remain relatively resilient and less impacted by the US shutdown.
The following Small-Cap stocks are likely to be in focus on Tuesday, October 03, 2023:
Godrej Agrovet: In a recent exchange filing, the company has revealed its plans to establish an Integrated Palm Oil Complex in Telangana. Alongside this initiative, the company will set up a nursery capable of producing up to 7 lakh saplings annually, in addition to its existing seed production and research unit. This ambitious project will see Godrej Agrovet Limited investing Rs 300 crore over the next 3-4 years to bring the integrated palm oil complex to fruition.
Godrej Agrovet Limited is a diversified agri-business company with a strong focus on research and development. It is committed to enhancing the agricultural productivity of Indian farmers by introducing innovative products and services that lead to sustainable increases in crop and livestock yields.
Kirloskar Ferrous Industries: The company has announced its acquisition of Oliver Engineering, a move that opens doors for geographic expansion and enables them to better serve the growing demands of customers in Northern India.
Kirloskar Ferrous Industries specializes in the manufacturing of pig iron and ferrous castings, including components like cylinder blocks, cylinder heads, transmission parts, and various housings required by the automobile, tractor, and diesel engine industries.
Sterling and Wilson Energy: The company has secured the Notification of Award for an EPC project involving 300 MWac, awarded by NTPC Renewable Energy Limited (NTPC REL) at Khavda RE Power Park in the Rann of Kutch, Gujarat. The comprehensive contract, which also encompasses a 3-year operation and maintenance (O&M) component, is valued at Rs 1,535 crore.
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Sterling and Wilson Solar Ltd, a leading global provider of end-to-end solar engineering, procurement, and construction (EPC) solutions, is actively engaged in the operation and maintenance (O&M) of solar power projects.
52-week high: Ashoka Buildcon, Brand Concepts, GVK Power, Ramco System and REC.
Keep an eye out for the above-listed small-cap stocks on October 03, 2023.
Disclaimer: The article is for informational purposes only and not investment advice.