Stocks to watch: These small-cap stocks will be in focus tomorrow!
Wendt (India), EID Parry India, Kohinoor Foods, Raymond, Blue Dart Express, Mukand Engineers, Accuracy Shipping, Madhya Bharat Agro Products, Medico Remedies, and Ethos made a fresh 52-week high today
On Monday, Indian equity markets kicked off the week on a strong note with healthy gains. Nifty 50 and Sensex climbed ~1.90 per cent each to close the session at 16,661.40 and 55,925.74 respectively.
BSE Smallcap index outperformed broader markets gaining 2.23 per cent to close at 26,192.30. Top Gainers of the index include Technocraft Industries (India), Unichem Laboratories, Ashoka Buildcon, PG Electroplast and Gujarat Ambuja Exports. Top Losers comprise JSW Ispat Special Products, Techno Electric & Engineering, Mangalam Drugs & Organics, Xelpmoc Design & Tech and Venus Remedies.
The following small-cap stocks are likely to be in focus on Tuesday, May 31, 2022:
Meghmani Finechem – The company announced that it has entered into an agreement with Renew Green Energy Solutions Pvt Ltd for setting up a wind-solar hybrid power project. The company has executed an energy subscription agreement (ESA) along with a share subscription and shareholder agreement (SSSHA) for putting up an 18.34 MW wind-solar hybrid power plant in Gujarat under a special purpose vehicle (SPV) with Renew Green Energy Solutions. The company will hold a 26 per cent stake in the SPV for a contribution of Rs 20.54 crore while Renew Green Energy Solutions will contribute Rs 58.46 crore for a 74 per cent stake. The hybrid power plant is expected to be commissioned in Q3FY23.
Oberoi Realty – The company has signed a share subscription agreement with existing shareholders of its joint venture - Homexchange, after which, the company’s shareholding will fall to 44.03 per cent from the current 47.5 per cent.
Cressanda Solutions – The company has entered into an agreement with a large institutional client for providing tech-powered infrastructure solutions for the unaddressed passenger experience in India. The company is poised to innovate, design, and deliver large business projects with technology & software services at its core. The software services include the development of business applications, data sciences, cloud, migration, business process optimisation, digital media, technology implementation & maintenance services.
52-week high stocks – Wendt (India), EID Parry India, Kohinoor Foods, Raymond, Blue Dart Express, Mukand Engineers, Accuracy Shipping, Madhya Bharat Agro Products, Medico Remedies, and Ethos made a fresh 52-week high today.
Keep an eye out for the above-listed small-cap stocks on May 31, 2022.