These 5 smallcap stocks zoomed up to 20% on the BSE

At 01:42 pm; Kaynes, KFIL and Kiri Industries were in the 20% upper circuit, while MOIL and Indian Hume Pipe were up 19% and 17%, respectively, as against the S&P BSE Sensex was up 0.39%.

Shares of five stocks from the S&P BSE Smallcap index, Kaynes Technology India (Rs 3,090.95), Kirloskar Ferrous Industries (KFIL) (Rs 725.25), Kiri Industries (Rs 371.40), MOIL (Rs 524.60) and Indian Hume Pipe Company (Rs 328.85) zoomed up to 20 per cent on the BSE in Friday’s intra-day trade.

At 01:42 pm; Kaynes, KFIL and Kiri Industries were locked in the 20 per cent upper circuit, while MOIL and Indian Hume Pipe were up 19 per cent and 17 per cent, respectively. In comparison, the S&P BSE Sensex was up 0.39 per cent at 73,950.

Among individual stocks, KFIL hit a record high of Rs 725.25 on the back of a near 18-fold jump in average trading volumes. As many as 545,000 shares changed hands on the BSE. In the past one week, the stock has zoomed 29 per cent.

KFIL is one of the leading castings and pig iron manufacturers in India. The company caters to various industry sectors, such as tractors, automobiles and diesel engines.

With the recent upturn in market sentiment and improvement in pig iron prices, KFIL on April 17 announced the restart of operations of the Hiriyur mini blast furnace effective April 15, 2024. This strategic move underscores KFIL's proactive stance in capitalizing on market opportunities while maintaining its reputation for reliability and resilience in the face of industry challenges, KFIL said.

Shares of Kiri were locked in the 20 per cent upper circuit at Rs 371.40 amid heavy volumes. A combined 1.69 million equity shares representing 3.3 per cent of total equity of Kiri changed hands on the NSE and BSE.

In an exchange filing, Kiri said the Singapore International Commercial Court (SICC) on Monday, 20 May 2024, shall deliver the judgement and grounds of decision for the enforcement proceedings on the basis of the hearing took placed on 24 & 25 January 2024 and in continuation of the interim order delivered by SICC on 23 February 2024.

The hearing for Alternate Relief Application was held on January 24 and January 25, 2024, at the SICC, to give effect to the Order of Court made in SIC4 dated July 3, 2018 which ordered Senda International Capital Limited to purchase Kiri’s 37.57 per cent shareholding in DyStar Global Holdings (Singapore) Pte Ltd based on a valuation, which has been adjudged as $603.8 million by the Singapore International Commercial Court in its judgment dated March 3, 2023. After hearing the parties, the court reserved its judgment and will issue judgment as soon as it’s ready.

Shares of Indian Hume Pipe hit a new high of Rs 328.85, soared 20 per cent in intra-day trade after the company's consolidated net profit more-than-doubled to Rs 43.66 crore in March quarter (Q4FY24) as compared with Rs 16.01 crore in Q4FY23. Revenue from operations, however, fell 11 per cent YoY to Rs 404.28 crore from Rs 454.20 crore in the year ago quarter.

On order book position, Indian Hume Pipe said the estimated balance value of the work as at May 12, 2024 stood at Rs 3,698.17 crore as against Rs 3,112.03 crore as of May 6, 2023. The company is L1 in one project having value of Rs 1,901.39 crore.

Meanwhile, with regards to the company's progress on Hadapsar, Pune land development, it said that the entire project consists of 12 residential towers with saleable area of 1.48 million sq; ft, (approx,) RERA carpet area of 1.054 million sq. ft. (approx.), Presently 3 towers of Phase I and 2 towers of Phase II were launched. These towers consist 507 flats with RERA carpet area of 0.437 million sq. ft. (approx.). As on May 12, 2024, 334 flats having sale value of Rs 246.95 crore were booked.