BSE SmallCap logs stellar buying, index holds above 30k mark; GRSE, Alankit top bulls; Share India, India Cements, JTL Infra gain 12-14%

7 Jan 2022 , 02:46 PM

Amidst broader volatile markets on Friday, the small-cap stocks were among top picks as investors focus shifts towards corporate earnings, Omicron surge and concerns about a slowdown in economic growth. BSE SmallCap outperformed the majority of its counterparts and held above the 30,000-mark. The index has climbed to nearly 30,175 in the early deals today.

At around 2.44 pm, BSE SmallCap was trading at 30,037.14 up by 132.36 points or 0.44%. The index has touched an intraday high of 30,174.93.

Alankit was the top gainer surging by nearly 19% followed by GRSE soaring by 17%. India Cements gained over 14% while Share India rallied over 13%. JTL Infra jumped 12.5% and Ashapura Minechem gained above 12%.

Stocks like Tata Steel Long Products, KPIT Tech, Shiva Cement, Redington, Gujarat Sidhee Cement, BGR Energy, Birla Money, Dollar Industries, Gokex, OMAXE, Bodal Chemicals, Ujjivan Small Finance Bank, SATIA and IRB AGRO climbed between 7.5-12%.

On the bearish side, Hinduja Global Solutions hit a 20% lower circuit. GM Breweries Zee Learn dipped by 10% and 9%. Asian Granito, Mirza International and Renuka Sugars dipped between 5-7%.

Notably, BSE SMEs have touched a milestone with the market cap of companies on the platform crossing Rs50,000cr.

Ajay Thakur, Head — BSE SME & Startups said, “Today the market cap of companies listed on BSE SME platform crossed the milestone of INR 50,000 Crores. It is truly a memorable moment in our history and one we are very proud of. Small and Medium Enterprises are the backbone of the Indian economy and the rapid growth in scale we are observing currently is a bright indication of the progress of our great nation. This milestone is also a testament to the consistent efforts taken by BSE SME in creating awareness amongst SMEs about benefits of listing.”

Thakur added, ” In last ten years, BSE has organised 2500 seminars and 500 webinars along with various industrial and professional associations across the country. BSE has signed MOUs with various state governments, financial institutions and professional bodies. BSE officials have also met over 36000 SME promoters to make them understand the benefits of listing and the results of all these efforts are evident in terms of the market cap milestone. Over these 10 years, BSE SME has helped 358 SME companies from diverse sectors to list and raise over Rs 3500 crore of equity funds and we are confident of many more SME companies to list and raise funds from BSE SME platform going forward”