Tuesday, 19 December 2017

BSE Smallcap index hits new high; 183 stocks zoom over 100% in CY17

BSE Smallcap index hits new high; 183 stocks zoom over 100% in CY17

STOCK MARKET - The S&P BSE Smallcap index hit a new high of 18,441.54 on the BSE in intra-day on Tuesday, after strong rally in consumer electronics, infrastructure, auto ancillary, iron & steel products, textiles and sugar sector stocks.

The index surpassed its previous high of 18,411.37 touched on December 1, 2017 in intra-day trade.

Godwari Power & Ispat, Indo Rama Synthetics (India), BPL, Bharat Wire Ropes, Ucal Fuel Systems, MIRC Electronics, Atlanta, Waterbase, Precision Wires India and Gufic Biosciences were up more than 5% on the BSE.

At 09:57 AM; the S&P BSE Smallcap index, the largest gainer among broader indices, was up 1% at 18,440, as compared to 0.73% rise in the S&P BSE Midcap and 0.31% gain in the benchmark S&P BSE Sensex.

Thus far in the calendar year 2017 (CY17), the smallcap index has rallied 53% against 43% surge in midcap index and 27% rise in Sensex.

Around 183 stocks from the smallcap index have seen its market value more than doubled in CY17. While another 157 stocks have outperformed the index by gaining between 54% and 99% during the period.

Among the individual stocks, BPL soared 14% to Rs 116 today extending its 36% surge in past eight trading sessions post September quarter results (Q2FY18). The consumer electronics company reported net profit of Rs 16 crore in Q2FY18, which include one-time profit of Rs 14 crore on disposal of non-core assets of the company. It had profit of Rs 1 crore in Q2FY17.

Gufic Biosciences too surged 14% to Rs 126, also its all-time high on the BSE. The stock appreciated 29% in past three trading sessions from Rs 98, after the pharmaceutical company reported more than doubled net profit at Rs 5.67 crore in Q2FY18. It had profit of Rs 2.65 crore in year ago 

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