Overnight Digest: These small caps will be in focus on Tuesday
On Monday, frontline indices Nifty and Sensex ended flat, up by 0.01 per cent and 0.05 per cent respectively after a relatively volatile session. BSE Smallcap index lost 0.13 per cent and ended at 27,988.19. EIH Associated Hotels, India Glycols, PSP Projects and Chalet Hotels were top gainers in the index. While, Kesoram Industries, KPIT Technolgies, Vascon Engineers and Prime Focus were top losers.
The following small-cap and mid-cap stocks are likely to be in focus on Tuesday:
Intellect Design Arena – The company has announced the launch of Capital Cube 21, an integrated contextual Treasury solution powered by future-proof technology. Capital Cube 21 is a contextual cross-asset treasury solution covering the rich functionalities of the integrated front-mid back-office treasury, contextual asset-liability management, portfolio risk analytics and value-adds like Libor transition and CBX-FX. As per the company, Capital Cube 21 has the potential to deliver top-line improvement by 8 per cent to 12 per cent and bottom-line improvements by 5 per cent to 10 per cent.
Ward Wizard Innovations and Mobility - The company is a leading manufacturer of electric two-wheeler brand ‘Joy e-bike’. It recently announced that they will set up an automatic assembly line in its Vadodara based manufacturing plant to double the production capacity. The new automatic assembly line is expected to be operational by October 2021. Currently, the company has more than 400 dealerships across the country in tier-1, 2 and 3 cities and is expecting to reach around 750 dealerships by end of this financial year. With the growing demand for electric vehicles, the company has set up a target of manufacturing 2 lakh units in a single shift annually, which is presently at one lakh units. The company has sold more than 2000 units in August and has registered a booking of more than 5000 units.
Birlasoft – The company has recently announced that it has achieved Oracle validated integration with ‘JD Edwards EnterpriseOne Expertise’ for its integration of ProVue - designed to bring power and simplicity to the process of monitoring the ERP landscape. The Oracle Validated Integration for ProVue with JD Edwards EnterpriseOne Expertise strengthens Birlasoft’s position as an elite Oracle partner. This also gives the customers confidence that the integration of Birlasoft's ProVue is functionally sound.
Balkrishna Industries – In its recent board meeting the company has decided to raise funds up to Rs 1,000 crore through broader means of long-term finance. They can be in the form of foreign currency bonds, Non-Convertible Debentures (NCD), external commercial borrowings and term loans in various currencies.
52-week High Stocks – Chalet Hotels, Marathon Nextgen Realty, Gujarat Alkalies and Chemicals, Mold-Tek Packaging and Indo Count Industries have made a fresh 52-week high today. These stocks will likely be in focus on Tuesday, September 28 2021.