Overnight Digest: These small caps will be in focus on Wednesday
BSE Mid-cap and Small-cap indices corrected by more than 1.75 per cent each to end at 26,418.28 and 29,562.60 respectively.
On Tuesday, benchmark indices Sensex and Nifty ended in the red territory down by 0.08 per cent and 0.32 per cent respectively. Realty, FMCG and metal stocks underperformed broader markets. BSE Mid-cap and Small-cap indices corrected by more than 1.75 per cent each to end at 26,418.28 and 29,562.60 respectively.
The following small-cap and mid-cap stocks are likely to be in focus on Wednesday:
Network 18 Media and Investments – The company has reported a strong set of Q2FY22 results. Consolidated EBITDA for the quarter grew 53 per cent on a year-on-year basis. The operating margin stood at 18.2 per cent. The company’s News and Entertainment businesses further improved profitability. The company has witnessed strong revenue growth driven by viewership. It reported the highest ever Q2 revenue (ex-film) with a growth of 29 per cent on an annual basis.
Viacom18 is building a strong sports portfolio. It has successfully acquired rights to FIFA World Cup 2022 and three major football leagues. Voot’s digital exclusive property - Bigg Boss OTT continues to drive substantial growth in paid subscriber base.
RMC Switch Gears – The company has announced that it has successfully developed an IoT (Internet of Things) device which will help in monitoring the location, problems, abnormalities and power consumption (including energy auditing with features, smarter than smart metres) for the State Power Utilities. The company has said that it will soon be rolling it out for domestic applications as well which will also provide home automation systems.
RMC Switch gears has also developed a mobile and web application to manage and control the above, which will be customized as per the utility and will ensure the encrypted form of the database.
Aurionpro Solutions – The company has announced the signing of an agreement for the acquisition of a further stake in its subsidiary SC Soft Pte Ltd (i.e. SC Soft). This acquisition is pursuant to the right available to the company under the subscription and shareholders’ agreement signed for the acquisition of a 51 per cent stake in 2018.
52-week High Stocks – Manaksia Coated Metals and Industries, Speciality Restaurants, TCNS Clothing, Neogen Chemicals, Sonata Software, Mukta Arts, Centum Electronics and AMD Industries made a fresh 52-week high today. These small-cap stocks will likely be in focus on Wednesday, October 20, 2021.