On Tuesday, an increase in investor selling bias was witnessed in the Indian shares due to negative Asian indications.

These small-cap stocks gained during the pre-opening session on Tuesday: 

On Monday, the fears of a global economic slowdown coupled with a slew of major quarterly earnings gripped the sentiments in the domestic market.

Penny stocks tend to gain momentum as markets show trend reversal. While many market observers believe that the current up move is simply a technical bounce and not necessarily a trend reversal, several penny stocks have managed to outperform the markets in July.  

Despite the slowdown and inflationary concerns, some quality stocks provided stellar returns to their shareholders.

Elecon Engineering Company Ltd (Elecon) witnessed a gain of 14.61 per cent in today’s session and closed at Rs 377.80.Net revenue grew by 11.4 per cent on a YoY basis at Rs 327.72 crore, while net profit jumped by 57.6 per cent YoY to Rs 42.52 crore.

BSE Smallcap index relatively outperformed broader markets by slipping only 0.13 per cent to end at 26,739.14. 

Indices closed lower on Monday as Nifty fell 0.53 per cent while Sensex lost over 400 points. Nifty Midcap and Nifty Smallcap slipped 0.09 per cent & 0.58 per cent, respectively.

Comparing Q4FY22's net profit of Rs 6.09 crore to Q4FY21's net profit of Rs 0.06 crore, there was a tremendous increase of 10,050 per cent.  

“Tata Simply Better” is the brand name under which the company will be entering into this new business segment