Nava, WABAG, NCC, Finolex and 17 other smallcap stocks hit record highs

Shares of Nava, KNR Construction, Finolex Cables, Finolex Industries, Amara Raja Energy & Mobility, Mrs. Bectors Food Specialities, VA Tech Wabag (WABAG) and Ddev Plastiks Industries are among total 21 stocks from the BSE Smallcap index that hit their respective highs and rallied by up to 19 per cent in Thursday’s intra-day trade.

At 01:32 pm; BSE Smallcap index, the top gainer among broader indices, was up 2.91 per cent, as compared to 0.64 per cent rise in BSE Sensex and 2.2 per cent gain in BSE Midcap index.

Bikaji Foods International, Eris Lifesciences, Escorts, MPS, PTC Industries, Redtape, SJS Enterprises, Suprajit Engineering, Heritage Foods, Universal Cables, Bhagiradha Chemicals and Industries (BCIL) and V-Guard Industries among others touched their respective record highs.

Among the individual stocks, KNR Constructions hit a record high of Rs 402.50, as it surged 19 per cent on the BSE in Thursday’s intra-day trade amid heavy volumes on healthy outlook. In the past two days, the stock of the engineering, procurement and construction (EPC) services company has rallied by 35 per cent. While in the past three weeks it has zoomed 58 per cent.

KNR is a leading player in the country’s infrastructure sector, where it mainly focuses on providing infrastructure services for highways, flyovers, bridges, and irrigation sector. It participates in all the formats of bids including item rate contracts, EPC contracts, BOT (Toll/ Annuity), and hybrid annuity model (HAM) mode.

KNR has developed 2 BoT, 2 annuity projects and 11 HAM projects of highways in Telangana, Andhra Pradesh, Karnataka, Tamilnadu, Kerala and Bihar.

On the other hand shares of WABAG soared 14 per cent to Rs 1,081.10 amid heavy volumes. Being a pure-play water technology multinational, WABAG offers a complete range of technologies and services for total water solutions in both municipal and industrial sectors.  The company has a order book position of over Rs 11,400 crore including framework contracts; providing robust revenue visibility.

Nava, the power generation company, hit a new high of Rs 580, rallied 13 per cent on back of eight-fold jump in the average trading volumes. In past two days, the stock has surged 20 per cent.

Nava (formerly Nava Bharat Ventures) has diversified businesses in metals, energy, mining resources, and agri-business. The company is one of the leading Ferroalloy producers in India, with about 175,000 MT capacity per annum. Besides India, Nava operates Zambia’s largest mine-to-mouth power plant.

Shares of Heritage Foods hit a new high of Rs 601.60, as they surged 10 per cent on back of four-fold jump in the average trading volumes. In past four trading days, the stock zoomed 49 per cent as Chandrababu Naidu is set to become Andhra Pradesh's Chief Minister after Telugu Desam Party’s (TDP's) landslide victory.

The Heritage Group was founded in 1992 by TDP Chief Shri Nara Chandrababu Naidu, with three-business divisions viz., dairy, retail and agri under its flagship company Heritage Foods. Nara Lokesh, the son of TDP chief N. Chandrababu Naidu, is one of the promoters of Heritage Foods.

Heritage Foods has a presence in the cattle feed business through its subsidiary, Heritage Nutrivet Limited (HNL). Heritage Foods' milk and milk products, such as curd, ghee, paneer, flavoured milk, among others, are consumed by more than 1.5 million households in 11 states across India.

The company has introduced value-added products, which have boosted its overall revenue. Its ice cream/frozen dessert is witnessing rapid growth, and the company aims to expand in existing markets across channels and drive innovation.