Shares of smallcap companies were on a roll at the bourses on Tuesday with the S&P BSE Smallcap index hitting 31-month high after domestic mutual funds and insurance company acquired select companies' share from open market.
SORIL Infra Resources, Paisalo Digital, Fineotex Chemical, Rupa & Company, Borosil Renewables, Nava Bharat Ventures and Hindustan Foods were up between 10 per cent and 20 per cent on the BSE in intra-day trade. The S&P BSE Smallcap index hit an intra-day high of 18,089, its highest level since May 10, 2018. The index surpassed its previous high of 17,967, touched on December 17, 2020.
Among individual stocks, Paisalo Digital hit a fresh record high of Rs 745, up 19 per cent on the BSE. In the past four trading days, the stock of the finance company rallied 53 per cent after SBI Life Insurance Company acquired 9 per cent stake in the finance company via open market.
On Thursday, December 24, 2020, SBI Life Insurance Company had purchased 3.8 million equity shares, representing 8.99 per cent equity of Paisalo Digital, for Rs 186 crore via bulk deal on the NSE at Rs 490 per share, exchange data show. Antara India Evergreen Fund (1.5 million equity shares), Elara India Opportunities Fund (1.1 million), Heshika Growth Fund (0.29 million) and Davos International Fund (0.08 million) have collectively sold 36.9 million shares of Paisalo Digital. The name of other sellers were, however, not ascertained immediately.
Shares of Fineotex Chemical hit a 52-week high of Rs 62.15 on the BSE today after rallying 15 per cent in early morning trade. The stock has now surged 29 per cent in the past two trading days after Nippon India Mutual Fund (MF) bought nearly 6 per cent stake in specialty chemicals company via open market.
On Monday, December 28, 2020, Nippon India MF acquired 6.61 million equity shares, representing 5.9 per cent of total equity of Fineotex Chemical, for about Rs 30 crore through block deal on the BSE, the exchange data shows. The domestic mutual fund bought shares for its scheme Nippon India Small Cap Fund at price of Rs 45.25 per share, data shows.
Surendra Deviprasad Tibrewala, the promoter of Fineotex Chemical, sold 7.8 million equity shares, or 7.04 per cent stake, in the company at price of Rs 45.22 per share via block deal, data shows. The names of the other buyers were not ascertained immediately.
The stock of Rupa & Company, too, hit a 52-week high of Rs 310, soared 19 per cent on the BSE today on the back of heavy volumes. A combined 1.33 million equity shares, representing 1.7 per cent of total equity of the company, had changed hands on the NSE and BSE, till 11:47 am.
On December 28, Abakkus Emerging Opportunities Fund acquired 1.2 million equity shares or 1.5 per cent stake in Rupa & Company for Rs 30 crore via block on the NSE. Suvichar Advisors LLP sold 1.3 million shares at price of Rs 250.55 per share, the exchange data shows.
| COMPANY | LATEST | PREV CLOSE | GAIN(%) |
| SORIL INFRA | 130.05 | 108.40 | 19.97 |
| PAISALO DIGITAL | 740.15 | 623.50 | 18.71 |
| RUPA & CO | 305.15 | 259.75 | 17.48 |
| FINEOTEX CHEM | 60.85 | 54.10 | 12.48 |
| NAVA BHARAT VENT | 65.65 | 59.65 | 10.06 |
| BOROSIL RENEW. | 279.95 | 254.50 | 10.00 |
| HBL POWER SYSTEM | 39.95 | 36.70 | 8.86 |
| HINDUSTAN FOODS | 1669.65 | 1541.70 | 8.30 |
| STERLITE TECH. | 179.00 | 167.95 | 6.58 |
| SNOWMAN LOGISTIC | 62.40 | 58.55 | 6.58 |
| KESORAM INDS. | 66.05 | 62.10 | 6.36 |
| HSIL | 121.30 | 114.30 | 6.12 |
| GABRIEL INDIA | 107.70 | 101.65 | 5.95 |
| IFB INDUSTRIES | 1165.00 | 1105.15 | 5.42 |
| KIRLOSKAR OIL | 127.75 | 121.40 | 5.23 |
| BRIGHTCOM GROUP | 7.77 | 7.40 | 5.00 |
| TANLA PLATFORMS | 730.00 | 695.25 | 5.00 |
| YAARII DIGITAL | 83.05 | 79.10 | 4.99 |
| 3I INFOTECH | 5.91 | 5.63 | 4.97 |
| JP ASSOCIATES | 6.78 | 6.46 | 4.95 |
 "BSE Smallcap index hits 31-month high; Paisalo Digital zooms 53% in 4 days")
