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Shares of select small-cap companies are on a roll, with 14 stocks from the BSE Smallcap index hitting their respective all-time highs in Wednesday’s intra-day trade in an otherwise subdued market.
Apollo Micro Systems, CarTrade Technologies, CCL Products, HBL Engineering, HealthCare Global Enterprises, Maharashtra Scooters, Manappuram Finance, Nava, Radico Khaitan, SJS Enterprises, Syrma SGS Tech, TD Power Systems, Times Group and Vimta Labs have surpassed their previous highs in intra-day deals today.
Besides these 14 stocks, RBL Bank, Sagar Cement and Zydus Wellness from the BSE Smallcap index also hit their respective 52-week highs.
At 12:00 PM, the BSE Smallcap index, the top gainer among broader indices, was up 0.89 per cent, as compared to a 0.39 per cent rise in the BSE Midcap index and a marginal 0.06 per cent gain in the BSE Sensex.
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Why are small-cap stocks surging?
Among the individual stocks, Apollo Micro Systems rallied 5 per cent to ₹306.60 on the back of heavy volumes. In the past three trading days, the stock price of the aerospace & defence company soared 26 per cent after the company on August 29 announced that it entered into an agreement with DRDO for the Transfer of Technology (TOT) of Omni-Directional multi-EFP warhead for NASM-SR Missile. In the past month, it zoomed 80 per cent, while the stock skyrocketed 203 per cent from its April low of ₹101.05 on the BSE.
Shares of TD Power Systems spurt 9 per cent to ₹557.15, surpassing its previous high of ₹553.10 recorded on June 27, 2025.
The company has received a good number of orders for larger-sized 4-pole machines in the June 2025 quarter (Q1FY26), and there is a strong pipeline of similar orders in the September quarter (Q2FY26). The management expects the steam turbine business for the company, domestic plus export, to grow around 10 per cent to 12 per cent.
Looking at the way that the orders are flowing in and the forecast given by original equipment manufacturers (OEMs), the management said the company will exceed guidance.
Shares of Vimta Labs soared 9 per cent to ₹829 in intra-day trade on the back of heavy volumes. The stock surpassed its earlier high of ₹787.10, touched on September 2, 2025. Since July, the market price of the small-cap company has zoomed 85 per cent on strong Q1 earnings.
In Q1FY26, Vimta Labs reported revenue of ₹99.3 crore, up 31.4 per cent year-on-year (Y-o-Y), which was driven by pharmaceutical and food contract research and testing services. Profit after tax (PAT) increased 35.9 per cent Y-o-Y to ₹18.9 crore from ₹13.9 crore in the year-ago quarter. Earnings before interest, taxes, depreciation, and amortisation (Ebitda) margin improved to 35.7 per cent from 35.2 per cent.
Vimta Labs, in its FY25 annual report, said that the trend in growth of the overseas market for the company is positive going forward. The domestic market continues to hold immense potential, led by economic growth in the country. However, inflationary pressures in terms of cost of manpower, technology and material, and pricing pressures due to the proliferation of laboratories in the country could be a risk to watch out for, the company said.
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