Overnight Digest: These small caps will be in focus on Monday
Almondz Global Securities, KDDL Limited¸ Thangamayil Jewellery, Confidence Petroleum India and TCNS Clothing made a fresh 52-week high today.
On Friday, equity benchmark indices Sensex and Nifty closed at 60,821.6 and 18,114.9, falling by 101.88 points and 63.20 points respectively. BSE Small-cap index underperformed broader markets and corrected by 343.82 points to end at 28,336.31.
The following small-cap and mid-cap stocks are likely to be in focus on Monday:
Ramkrishna Forgings – The company has announced that it has recently opened offices in Russia and Europe to further expand its global footprints and smooth functioning of its exports business. Over the years the company has expanded its exports business significantly by increasing penetration with the existing client base while on the other hand adding new customers periodically.
PVR – The company has recently announced the results for Q2FY22 and also provided business updates. During the quarter as the screens re-opened, the company continued with its strategy for keeping operating costs low as well as maintaining adequate liquidity. The company was also able to successfully conclude discussions with landlord partners for rental waivers or discounts in respect of roughly 80 per cent of its properties and achieved savings of close to 75 per cent.
The Company launched 13 new screens during the year. This includes the six screens in iconic Jio Drive Mall, Mumbai, four director’s cut screens in Ambience Mall, Gurgaon and three screens in Jamnagar, Gujarat. Additionally, the Company also re-launched the revamped Priya cinema and PVR Anupam in Delhi during the quarter.
The Indian Hume Pipe Company – The company has announced that it has received a Letter of Acceptance (LoA) for a project worth Rs 156.27 crore (excluding GST) from Maharashtra Krishna Valley Development Corporation for the construction of piped distribution network (PDN) for the creation of 11280 Ha irrigation potential with 5 years operation and maintenance. The project is to be completed within 18 months.
52-week High Stocks – Almondz Global Securities, KDDL Limited¸ Thangamayil Jewellery, Confidence Petroleum India and TCNS Clothing made a fresh 52-week high today. These small-cap stocks will likely be in focus on Monday, October 25, 2021.