BSE Smallcap index hits fresh 9-year high

Shares of smallcap companies were in focus with the S&P BSE Smallcap index hitting a fresh nine-year high on the BSE in intra-day trade on Tuesday after a sharp rally in select Tata Group companies, logistics, auto ancillary, steel and banking stocks.

The smallcap index hit an intra-day high of 13,699, its highest level January 8, 2008 in noon deal trade. The index surpassed its previous high of 13,695 touched on February 22, 2017 in intra-day trade. It hit a record high of 14,239 on January 8, 2008.

At 02:25 pm; the Smallcap index, the largest gainer among broader indices, was up 0.62% as compared to 0.08% rise in S&P BSE Midcap index and unchanged in the benchmark S&P BSE Sensex.

Since February 29, 2016, the smallcap index rallied 43% against 41% surge in midcap and 25% rise in the benchmark index.

Tata Teleservices Maharashtra (TTML), TRF, Tata Metaliks and Tata Sponge from Tata Group have rallied between 5% and 20% on the BSE.

Adhunik Industries, Manali Petrochemicals, Minda Industries, Steel Strips & Wheels (SSWL), Karnataka Bank, Gati, Snowman Logistics, Federal Bank, Aurionpro Solutions, Jindal Stainless and Lincoln Pharmaceuticals from the smallcap index have surged up to 20%.

TTML has locked in upper circuit of 20% at Rs 8.02 on back of heavy volumes after media report suggest that Tata withdraws objection to arbitration award in favour of Docomo. CLICK HERE TO READ FULL REPORT.

The trading volumes on the counter jumped more than 10-fold with a combined 60.38 million shares changed hands on the BSE and NSE so far.

Jindal Stainless was up 9% to Rs 60, extending its 6% gain in past two trading sessions after the company allotted 19.2 million compulsory convertible warrants (CCW) at Rs 39.10 per CCW to Virtuous Tradecorp Private Limited, a promoter group, on preferential basis.

Meanwhile, out of total 778 stocks 141 scrip have become multi-baggers, gaining more than 100% in past one year. As many as 200 stocks were up in the range of 50% to 99% and 40 between 44% and 49%.

COMPANY	LATEST	PREV CLOSE	GAIN(%)
LINCOLN PHARMA.	244.25	203.75	19.88
TATA TELE. MAH.	8.02	6.69	19.88
MANALI PETROCHEM	42.15	35.55	18.57
ADHUNIK INDUS.	122.30	106.75	14.57
TRF	209.20	185.00	13.08
AURIONPRO SOL.	127.25	114.25	11.38
BS	2.10	1.91	9.95
TATA METALIKS	523.05	479.70	9.04
JINDAL STAIN.	59.60	54.90	8.56
STAMPEDE CAP.	23.05	21.30	8.22
KARNATAKA BANK	138.35	128.90	7.33
MINDA INDS.	439.65	412.25	6.65
FUTURE LIFESTYLE	193.00	181.05	6.60
VIKAS ECOTECH	19.45	18.25	6.58
SNOWMAN LOGISTIC	60.65	57.15	6.12
KAVERI SEED CO.	493.20	465.65	5.92
MEP INFRAST.	46.50	43.90	5.92
MONNET ISPAT	33.75	31.90	5.80
TATA SPONGE IRON	654.15	619.10	5.66
GATI	130.10	123.20	5.60