Gravita India, Ramky Infrastructure, D-Link (India), Ashapura Minechem, Tinplate Company of India, TVS Electronics, Walchandnagar Industries and Jai Corp were among 18 stocks from the small-cap index that rallied between 10% and 20% on the BSE in otherwise range-bound market.
At 2:48 pm, the S&P BSE Small-cap index, the largest gainer among broader indices, was up 1% as compared to 0.09% decline in the benchmark S&P BSE Sensex.
Gravita India surged 19% to Rs 157, also its 52-week high on BSE in intra-day trade, on back of an over five-fold jump in trading volumes. A combined 4.14 million shares of the company changed hands on the BSE and NSE so far.
On Tuesday, October 3, Gravita India said that it has been allotted the status of an authorised economic operator-T2 under a major programme undertaken by the customs and excise departments. The authorised economic operator plan works under the World Customs Organisation's (WCO) SAFE framework of standards to secure and facilitate global trade.
Ramky Infrastructure too hit a 52-week high of Rs 130, up 20% on BSE in intra-day trade. The trading volumes on the counter jumped multiple fold with a combined 5.35 million shares changed hands on both the exchanges.
The board of directors of construction & engineering company last week had approved preferential issue of 12 million convertible equity warrants to promoter and non-promoter.
Dilip Buildcon surged 11% to Rs 693, also its record high on BSE. The company, one of India’s largest road EPC contractors, sits on Rs 15,600 crore order book (whopping around 3.1x of FY17 revenues) providing great revenue visibility.
IIFL Wealth Management initiate coverage on the stock with a BUY rating for a target price of Rs 795.
“Given high margin orders in hand, we expect operating earnings to grow at around 19% CAGR. With >20% ROE and solid earnings growth, valuations are attractive at around 14x FY19E P/E,” the brokerage firm said in a report.
Bhansali Engineering Polymers hit a new high of Rs 115, up 16%, extending its previous day’s 20% rally on back of heavy volumes.
The company on Tuesday said that the board of directors of the company will meet on Friday, 13th October, 2017 to consider and approve the unaudited financial results of company for the quarter ended 30th September, 2017 (Q2FY18).
Since July 14, post June quarter (Q1FY18) results, the stock appreciated by 55% from Rs 74. On comparison, the S&P BSE Sensex was down 1% during the same period.
The company engaged in specialty chemicals business had reported more than doubled standalone net profit of Rs 16.88 crore in Q1FY18, against Rs 8 crore in the same quarter last year. Net sales during the quarter grew 52% to Rs 224 crore from Rs 147 crore in the corresponding quarter of previous fiscal.
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