Reliance Naval and Engineering, Shree Rama Newsprint, IVRCL, Unitech, Reliance Industrial Infrastructure, MTNL, Punj Lloyd and Himachal Futuristic Communications (HFCL) from the BSE smallcap
index were up more than 15% today.
In past one month, shares of Waterbase, Godawari Power & Ispat, Fineotex Chemical and 3i Infotech have become multi-baggers and have rallied up to 136%. Another 19 stocks which include Jaypee Infratech, Hester Biosciences, Ucal Fuel Systems, Setco Automotive, DB Realty and Ester Industries gained in the range of 50% to 90%.
Shankar Sharma, vice chairman and joint managing director at First Global said the small-cap story remains strong and they remain the best equity class across all global markets.
Indian small-caps look terrific, large-caps look average. I have held this view for the past 3 years and nothing compels me to change this view, Shankar Sharma tells to Business Standard. CLICK HERE TO READ FULL REPORT.
Among the individual stocks, Waterbase is locked in upper circuit of 10% at Rs 398 after a more than 2% stake of the company changed through a huge block deal in early morning deal. At 09:15 AM; around 463,663 equity shares representing 1.2% stake in Waterbase on the BSE, the exchange data shows. The name of the buyers and sellers were not ascertained immediately.
In past one month, the stock of the company engaged in food products business has zoomed 136% from Rs 169 on December 1, 2017. The company had reported nearly four-fold jump in net profit at Rs 9.4 crore in September quarter (Q2FY18) against Rs 2.6 crore in a year ago quarter.
Measures to enhance business efficiencies and optimize costs supported by favourable trends in raw material prices have propelled the company to its highest ever profit after tax (PAT), Waterbase said while announcing Q2FY18 results on November 14, 2017.
The initiatives undertaken in earlier years to strengthen the brand, enter new markets
and introduce product innovations have yielded favourable results as the company is on course to deliver in FY18 it’s highest ever PAT, it added.
Godawari Power & Ispat hit new high of Rs 358 in intra-day trade, rallied 113% in past one month from Rs 168. The company posted net profit of Rs 29 crore in Q2FY18 against net loss of Rs 50 crore in the same quarter previous fiscal.