Trending stocks: Keep a close eye on these small-cap stocks for 20 October 2021.
BSE Small-cap corrected by 1.79% and underperformed broader markets.
Headline indices Nifty 50 and Sensex recorded new highs during early market hours, but failed to hold the same and ended the session losing 58.03 points and 49.54 points respectively from yesterday’s closing. BSE Small-cap corrected by 1.79% and underperformed broader markets.
Keep a close eye on these trending small-cap stocks for Wednesday, 20 October 2021:
Saboo Sodium Chloro – The company has announced that its hospitality division is commencing development on a new property in Rajasthan. The company’s existing company property situated near Sambhar Lake, Rajasthan will be converted into a luxury short-stay accommodation. This is in line with successful strategies in North America and Europe where freestanding properties available for short-term rentals have found above-market rates and high occupancy levels.
The property currently features a swimming pool, tennis courts, sauna/spa facilities and multiple bedroom accommodations. In addition, the property is situated scenically amongst expansive acres of environment-conscious lawns and gardening. The new property will be developed fully out of internal accruals and no additional debt will be taken by the company for the project.
The Sambhar Resort and Salt Spa will be operational starting FY23. The project is expected to significantly add to both the top and bottom line of the company’s hospitality division.
Rane Brake Lining – The company has reported Q2FY22 results. Total revenue was Rs 126.2 crore as compared to Rs 107.7 crore in the Q2FY21 (an increase of 17.2%). EBITDA for Q2FY22 stood at Rs 14.1 crore relative to Rs 22.6 crore during Q2FY21. Net profit decreased by 53.1% from Rs 11.5 crore in Q2FY21 to Rs 5.4 crore in Q2FY22.
52-week High Stocks - The following small-cap stocks have made fresh 52-week high today – Pansari Developers, Sangam (India), Nahar Spinning Mills, Proseed India, Trident, Mastek, Sasken Technologies, Tata Communications and California Software Company. Keep a close eye on these counters on Wednesday, 20 October 2021.
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