Overnight Digest: Small cap to watch out for on June 30!
Small caps like GIC Housing Finance, Nelco, Career Point, IFCI, GMDC, Persistent Systems, R System, Ramco Systems, Sequent Scientific, Stove Kraft and Kilpest will be in focus on Wednesday
BSE SmallCap index outperformed BSE Sensex on Tuesday marginally even though both the indices slipped in trade.
Small caps like GIC Housing Finance, Nelco, Career Point, IFCI, GMDC, Persistent Systems, R System, Ramco Systems, Sequent Scientific, Stove Kraft and Kilpest will be in focus on Wednesday for following reasons:-
1. GIC Housing Finance:- The stock declared extraordinary results and consequently touched its upper circuit on Tuesday. The net profits grew by more than 200 per cent for GIC Housing Finance. The stock may continue with its positive momentum on June 30.
2. Career Point, IFCI, and GMDC: - These three stocks were the worst performers on Tuesday in the BSE SmallCap index. Traders and investors may exercise caution while investing in these counters.
3. Small cap IT stocks: - There is a strong momentum in mid-cap and small-cap IT stocks with the likes of Persistent Systems, R Systems and Ramco Systems outperforming in markets. These IT counters will be tracked by the traders and the investors alike.
4. Sequent Scientific, Nelco, and Kilpest: These three stocks soared more than 10 per cent on Tuesday. The positive momentum may attract buyers on Wednesday trading session. Kilpest declared extraordinary results this quarter and is trading at life highs.
5. Upper circuit Stock:- Stove Kraft, a recently listed IPO stock saw only buyers on Tuesday. There is buzz that the company is gaining market shares for its kitchen appliances products even as the market is expanding for the home appliances and kitchen appliances. The stock will be in limelight on Wednesday.