Overnight Digest: These small caps will be in focus on Monday
Neogen Chemicals, De Nora India, JBM Auto, Precision Camshafts, Gujarat Fluorochemicals, Inox Wind and Elgi Equipments made a fresh 52-week high today.
On Friday, headline benchmark indices Sensex and Nifty witnessed profit booking and closed the session with losses of 1.31 per cent and 1.18 per cent. On the contrary, BSE Smallcap index outperformed broader markets, by gaining 0.33 per cent i.e. 94.25 points to close at 28,421.89.
The following small-cap stocks are likely to be in focus on Monday:
Morepen Laboratories – The company has announced that it has received USFDA approval for its anti-allergy drug Fexofenadine Hydrochloride that is marketed in India under the popular brand name Allegra, among others and is the blockbuster drug of the innovator company Sanofi Aventis, France. Fexofenadine is the most widely used, second-generation antihistamine drug for the treatment of allergy symptoms and hay fever.
The company has tied up for regular supplies of Fexofenadine to one of its top US customers, with which the company has long-standing relations lasting over two decades. The company has already supplied validation quantities and the regular commercial supplies would start after approval of validation batches. Fexofenadine is a very established anti-allergy drug with a market size of around 700MT and is expected to give immediate impetus to the company’s export business.
Ashoka Buildcon – As per a recent filing with the exchange, the company has submitted bids to the Ministry of Road Transport & Highways (‘M0RTH;) in respect of the project viz. 'Request for Proposal for Construction of Six lane link road (NH-1665) with paved shoulder configuration to Mopa Airport in the State of Goa on EPC mode'. The company has emerged as the Lowest Bidder (L-1) and the quoted bid price of the project is Rs 76,941 crore.
52-week High Stocks – Neogen Chemicals, De Nora India, JBM Auto, Precision Camshafts, Gujarat Fluorochemicals, Inox Wind and Elgi Equipments made a fresh 52-week high today. These small-cap stocks will likely be in focus on Monday, December 6, 2021.