Stocks to watch: These small-cap stocks will be in focus tomorrow!
Timken India, HBL Power Systems, Rolex Rings, Raymond, Wendt (India), KEI Industries, Ice Make Refrigeration, Shanti Overseas (India), Kohinoor Foods, Fine Organic Industries, Standard Industries, Mirza International, and PG Electroplast made a fresh 52-week high today
On Wednesday, Indian equity markets kicked off the month of June on a negative note. Nifty 50 and Sensex slipped ~0.35 per cent to close at 16,522.80 and 55,381.17 respectively.
BSE Smallcap index outperformed broader markets to end the session at 26,534.53, up by 0.62 per cent. Top Gainers of the index include Timken India, HBL Power Systems, Rolex Rings, Dollar Industries, Sharda Motor Industries, Shree Renuka Sugars and Jaiprakash Associates. Top Losers comprise Techno Electric & Engineering, Precision Wires India, Kriti Industries, PTC India and Brightcom Group.
The following small-cap stocks are likely to be in focus on Thursday, June 2, 2022:
Meghmani Finechem – The company has announced the successful commissioning of Epichlorohydrin (ECH) plant with 50,000 TPA capacity. Meghmani Finechem is the first company in India to commission an ECH plant – a currently fully-imported product. ECH is a high-value product and considering its current prices, the company expects the asset turnover ratio to be above 2.5 times, which will improve its absolute EBITDA and end up providing higher RoCE thereby, creating value for the shareholders.
VA Tech Wabag – The company has secured an engineering & procurement (EP) order worth about 18 million euros (approximately Rs 149 crore) from DL E&C Co. Ltd, Korea, for a water treatment package for the EuroChem methanol production facility in Kingisepp (Russia). The company’s scope includes design, engineering, supply, installation, pre-commissioning, commissioning & start-up of the plant and is scheduled to be completed over a 15-month period. This order includes adequate payment securities, which de-risks us from the geopolitical uncertainties.
Action Construction Equipment – The company informed the exchange that it has been awarded a breakthrough order for the supply of 40 backhoe loaders from Border Roads Organisation, Ministry of Defence (MoD).
52-week high stocks – Timken India, HBL Power Systems, Rolex Rings, Raymond, Wendt (India), KEI Industries, Ice Make Refrigeration, Shanti Overseas (India), Kohinoor Foods, Fine Organic Industries, Standard Industries, Mirza International, and PG Electroplast made a fresh 52-week high today.
Keep an eye out for the above-listed small-cap stocks on June 2, 2022.