Overnight Digest: These small caps will be in focus on Monday
On Thursday, headline indices Nifty and Sensex snapped their gaining streak to close in the red down by 0.25 per cent and 0.21 per cent respectively. The BSE Small cap index fell by 1.06 per cent i.e. 299.26 points to end at 28,006.79, underperforming broader markets. Surya Roshni, Thirumalai Chemicals, DB Corp and DCM Shriram were top gainers. While Dalmia Bharat, Cantabil Retail, Infibeam Avenue and Varun Beverages were top losers of the session.
The following small-cap and mid-cap stocks are likely to be in focus on Monday:
Rajesh Exports – The company has bagged a prestigious order worth Rs 691 crore of designer range of jewellery from Germany. The said order is to be completed by December 2021. The company will be executing the order from its manufacturing facility, which is the world’s largest jewellery manufacturing facility. The special significance of this order is the acceptance of the company’s new range of jewellery in the global markets.
Asian Granito – The company recently announced that it is eyeing exponential growth from exports business in the current fiscal. Anti-China sentiments, lower duties on export to USA, robust export orders from the USA, Europe, UK and the Middle East are driving the export business in the current fiscal and it is expected to get further momentum in coming months. The company expects to clock export business of around Rs 350-400 crore in the current fiscal of FY21- 22 and also aims to expand its business network in over 120 countries from 100 currently.
Cosmo Films – The company today announced an expansion by setting up the world’s largest BOPP film production line at Aurangabad with an annual rated capacity of 67,000 MT. The BOPP line will require an investment of about Rs 350 crore to be funded through internal accruals and debts and is expected to be commencing commercial production within FY 2024-25. Backed by strong financial performance, the company has also declared its first interim dividend of Rs 25 per share for FY2021-22.
Balkrishna Industries – The company has commenced the trial production at the Green Field Project located at Waluj, Aurangabad, with an installed capacity of 30,000 MT per annum along with a warehousing facility for raw materials and finished goods.
52-week High Stocks – Surya Roshni, Thirumalai Chemicals, Bannari Amman Sugars, TPL Plastech, Arihant Superstructures, IG Petrochemicals and Optiemus Infracom have made fresh 52-week high today. These stocks will likely be in focus on Monday, September 20 2021.