Overnight Digest: These small caps will be in focus tomorrow
Madhya Bharat Agro Products, The Ugar Sugar Works, Bombay Super Hybrid, Krishana Phoschem, Mahalaxmi Rubtech, Nahar Industrial Enterprises, Nitin Spinners, AMD Industries, Himadri Speciality Chemical and VRL Logistics made a fresh 52-week high today.
On Monday, Indian equity markets slipped dramatically into the red territory on account of weak global cues, soaring crude oil prices and heavy FII selling. Headline indices Nifty 50 & Sensex plunged by ~1.75 per cent each, ending the choppy trading session at 17,213.60 and 57,621.19 respectively. BSE Small-cap index on the contrary, outperformed broader markets by slipping 0.75 per cent, closing at 29,480.13.
The following small-cap stocks are likely to be in focus on Tuesday, February 8, 2022:
Brightcom Group – The company has announced the signing of a Letter of Intent (LOI) to acquire all the assets of a US-based digital audio firm that owns and operates multiple assets. The company is an integrated digital platform offering several programmed radio stations, various digital brands and digital marketing services in many markets in the US.
This move will mark the significant entry of the Brightcom Group into this fast-growing digital audio advertising segment. This acquisition is immediately EPS accretive by adding USD 45 million to the topline revenue of Brightcom, and USD 15 million to its EBIDTA. The synergies between the current Brightcom business and new assets will add to the above numbers.
RattanIndia Enterprises – Revolt Motors, India’s market leader in electric bikes which is backed by the company has recently announced the expansion of its retail presence in Uttar Pradesh. The company has opened its outlet in Noida, its second in the Uttar Pradesh region and its 21st dealership store across India. The company is also working towards setting up a robust dealership presence this year with an aim to open 44 plus new stores to meet customer requirements.
Sonata Software – The company has announced that it has partnered with Microsoft in its launch of ‘Microsoft Cloud for Retail’, further strengthening its offerings to the retail industry.
52-week High Stocks – Madhya Bharat Agro Products, The Ugar Sugar Works, Bombay Super Hybrid, Krishana Phoschem, Mahalaxmi Rubtech, Nahar Industrial Enterprises, Nitin Spinners, AMD Industries, Himadri Speciality Chemical and VRL Logistics made a fresh 52-week high today.
These small-cap stocks will likely be in focus on Tuesday, February 8, 2022.