These three stocks from BSE SmallCap index have zoomed over 100% in a month

Three stocks – Urja Global, Mahanagar Telephone Nigam Limited (MTNL) and 63 Moons Technologies – from the S&P BSE SmallCap index have zoomed more than 100 per cent in the past one month. In comparison, the SmallCap index and the benchmark Sensex have gained 3 per cent and 1.3 per cent, respectively, during this period.

Shares of Urja Global were locked in the upper circuit for the 15th straight day, up 5 per cent at Rs 18.66, quoting at an all-time high level on the BSE. In the last one month, the stock has surged 115 per cent, while in three months, it has zoomed 200 per cent.

Urja Global is a leading renewable energy developer and operator. It is engaged in design, consultancy, integration, supply, installation, commissioning & maintenance of off-grid and grid connected solar power plants. The company is an approved channel partner of Ministry of New and Renewable Energy (MNRE), Govt. of India.

As per its FY21 annual report, the company had signed a Memorandum of Understanding (MoU) with Ogata Motors India Private Limited on June 23, 2020 to manufacture Electric Vehicles (E – Scooters, E - Autos & E – Cars) in the national capital i.e. Delhi and entered into an agreement dated October 17, 2020 with FVM Industries (India) for sale of 100,000 units of electric scooty, annually worth around Rs 480 crore.

The company’s subsidiary is engaged in the manufacturing, assembling, marketing & exporting of wide range of batteries, including storage batteries, alkaline batteries, dry batteries, solar power batteries, emergency lights, dry cell converters, and also going to start Lithium-Ion Batteries used in or required for industrial, transport, commercial, and domestic purposes.

That apart, the shares of MTNL continued their upward movement for the fourth straight trading day. The stock was locked at the 10 per cent upper circuit at Rs 38.95 on the BSE on Tuesday, with only buyers seen on the counter.

The stock of the state-owned telecom services provider was quoting at its highest level since June 2014, when it hit a high of Rs 39.10.  In the past one month, the stock price of MTNL has appreciated by 110 per cent from a level of Rs 18.55 on the BSE.

On a sudden spurt in volumes, MTNL said that the movement in its share price is purely due to market conditions and that the management is in no way connected with it. “The company has duly informed the recognized Stock Exchanges i.e. NSE and BSE of all the events, information that have bearing on the operations/performance of the company including price sensitive information,” it said in a clarification. 

The shares of 63 Moons Technologies were also locked in the upper circuit of 5 per cent at Rs 217.45, hitting a fresh 52-week high on the BSE. The stock of the information technology (IT) consulting & services company has soared 101 per cent in the past one month.

On November 24, 2021, it had announced that it’s wholly owned subsidiary TickerPlant Limited (presently not a material subsidiary) is proposing to raise funds by way of a private placement offer of its equity shares. One-rupee equity share is being proposed to be issued at a premium of Rs 2 per share for the purpose of meeting its business requirements, it had said.

On December 3, 2021, the company announced TickerPlant raised Rs 81 crore by allotting 270 million equity shares at Rs 3 a share. It diluted its stake in TickerPlant to approximately 77.5 percent stake. Earlier this, month, TickerPlant had announced the launch of CryptoWire - a global crypto super app.

The app will provide real-time market prices and insight, news, knowledge, research, training, information and data platform. It seeks to empower participants by keeping the information comprehensive and unbiased, media reports suggested.