Shares of small-sized companies have seen sharp comeback with the Bombay Stock Exchange (BSE), S&P BSE small-cap index hits seven-year high during intra-day today.
S&P small-cap index up 1.4% or 161 points at 11,592 points at 1016 hours against less the 1% each rise in the Sensex and mid-cap index. The small-cap index touched high of 11,610, its highest level since January 2008, during intra-day trade.
In past six trading sessions, S&P small-cap index surged 11.3% in past six trading sessions outperforming the Sensex and mid-cap index. The National Stock Exchange (NSE) CNX Small-cap index too gained nearly 11% during the period.
Since March 27, the benchmark indices S&P BSE Sensex and CNX Nifty gained 4% each, while mid-cap indices rose 7%.
The small-cap index tracks the performance of companies with relatively lower market capitalization.
Of the 480 actively traded stocks from the S&P BSE Small-cap index, the market value of 160 stocks has outperformed the market by appreciating more than 13%. About 52 stocks gained between 10%-13% and 136 scrip gained between 5% and 10% in past six trading sessions.
A fund flow of Rs 2,000 crore from the overseas as well as domestic investors in equities has seen the market rebound after recent fall.
The foreign institutional investors (FIIs) have made net inflow of Rs 1,406 crore, while domestic institutional investors (DIIs) invested net amount of Rs 637 crore between March 30 and April 7, as per the provisional data from the stock exchanges.
Marico Kaya Enterprises, Kitex Garments, Panacea Biotech, Ess Dee Aluminium and Aurionpro Solutions have rallied over 40%. Gulf Oil Corporation, R S Software, Amtek India, Sudarshan Chemical Industries and Sarda Energy are among few that surged between 30%-40% on the BSE.
National Fertilisers, Zuari Agro Chemicals and Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) among the fertiliser stocks have rallied more than 13% each after the government gave a nod to pool or average out the prices of domestic natural gas and imported liquefied natural gas (LNG) used by fertiliser manufacturers. The move will make the cost of fuel uniform for fertiliser companies and is seen as largely positive.
Kitex Garments surged 47% to Rs 755 from Rs 513. The garments maker had reported nearly 100% year on year jumped in its net profit at Rs 41.63 crore for the fourth quarter ended March 2015 (Q4) against Rs 21.08 crore in the year-ago quarter.
Analysts at Motilal Oswal Securities maintain ‘buy’ rating on the stock with a target price of Rs 850.
“With foray into the brands business, we expect strong 23% revenue CAGR (compound annual growth rate) along with 400bp margin expansion, driving 37% profit after tax CAGR over FY15-17,” analyst said in results update.
Sudarshan Chemical Industries soared 40% to Rs 109 from Rs 78 on strong buying from domestic high net worth individuals (HNIs).
Vijay Kishanlal Kedia, one of the non-promoter shareholders, increased its equity stake in specialty chemicals maker, by 1.93 percentage points to 3.55% through the open market purchase.
Meanwhile, some of the companies have seen sharp rise in their market price on expectation of healthy financial performance during the recently concluded quarter. These firms had posted a strong set of numbers for the quarter ended December 2014.
Shares of Marico Kaya Enterprises, a pioneer in cosmetic dermatology, touched a record high of Rs 2,144 today and gained 45% in past six trading sessions. The company posted a consolidated net profit of Rs 25.3 crore in first nine months of FY15 against a loss of Rs 5.5 crore.
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Company
|
27 March 2015
|
8 April 2015
|
% Change
|
|
Ess Dee Aluminum
|
123.45
|
214.00
|
73.35
|
|
Aurionpro Solutions
|
180.30
|
267.60
|
48.42
|
|
Kitex Garment
|
512.80
|
760.40
|
48.28
|
|
Himadri Chemical
|
15.20
|
22.52
|
48.16
|
|
Panacea Biotech
|
102.30
|
150.40
|
47.02
|
|
BS
|
21.65
|
31.40
|
45.03
|
|
Marico Kaya
|
1481.25
|
2144.00
|
44.74
|
|
Caplin Point Lab
|
926.50
|
1296.75
|
39.96
|
|
Amtek India
|
50.80
|
71.05
|
39.86
|
|
Gravita India
|
31.40
|
43.90
|
39.81
|
|
Sudarshan Chem
|
78.30
|
109.00
|
39.21
|
|
Zen Technologies
|
48.90
|
68.00
|
39.06
|
|
Arti Drugs
|
616.50
|
854.00
|
38.52
|
|
Lloyd Electronic
|
175.20
|
241.40
|
37.79
|
|
R S Software
|
163.70
|
220.10
|
34.45
|
|
SMS Pharma
|
482.70
|
647.75
|
34.19
|
|
Gulf Oil Corporations
|
122.30
|
163.00
|
33.28
|
|
Visagar Polytex
|
840.75
|
1117.50
|
32.92
|
|
SML Isuzu
|
1087.50
|
1440.50
|
32.46
|
|
HBL Power System
|
46.75
|
61.90
|
32.41
|
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