463 stocks hit upper circuit on Monday as MidCaps, SmallCaps outperform

Among SmallCaps - Ramco Systems, Goldiam International, Atul Auto, OM Infra, Black Box, Gallantt Ispat, Cochin Shipyard, Refex Industries and EPACK Durable were locked at the 20% upper limit on BSE.

Shares of Ramco Systems, Goldiam International, Atul Auto, OM Infra, Black Box, Gallantt Ispat, Cochin Shipyard, Refex Industries and EPACK Durable were among 13 stocks from the BSE Smallcap index locked at the 20 per cent upper circuit on the BSE in Monday’s intra-day trade.

 

Meanwhile, as many as 463 stocks were locked at their respective upper circuit on the BSE at 02:10 pm. The list includes Pudumjee Paper Products (20 per cent at Rs 186.35), Star Paper Mills (20 per cent at Rs 246.70), Hind Rectifiers (5 per cent at Rs 1,331.10) and Diamond Cables (5 per cent at Rs 1,574.15).

 

 

The BSE Smallcap and Midcap indices were seen outperforming the market by gaining 0.7 per cent, as compared to 0.4 per cent rise in the BSE Sensex.

 

Among individual stocks Ramco Systems was locked at the 20 per cent upper circuit at Rs 501.80, also its 52-week high on the BSE, amid heavy volumes. A sharp up move in stock price was seen on expectations of improvement  in the company’s revenue  and earnings  on  the  back  of its healthy  order  book, better  project execution and  cost  optimisation measures  adopted  by the  company.

 

Ramco Systems is a leading cloud-based technology company with global operations. It provides ERP, HCM  and  aviation  maintenance  and  engineering  (M&E)  as  well  as  maintenance  repair  and  overhaul  (MRO)  software  to customers across the globe.

 

Shares of Cochin Shipyard (CSL) were locked in the 5 per cent upper circuit at Rs 1,655.75 after the company said it signed a contract with the Ministry of Defence (MoD), Government of India, for Short Refit and Dry Docking of INS Vikramaditya. The estimated contract value is above Rs 1,208 crore and the estimated duration for the project is around 5 months. 

 

The project is an important step towards development of CSL as Maintenance, Repair & Overhaul (MRO) Hub for supporting the industrial ecosystem of India. The project envisages the involvement of nearly 50 MSMEs and would lead to employment generation for more than 3500 personnel, ICICI Securities said in a note.

 

Shares of Pudumjee Paper Products hit a 52-week high of Rs 186.35, zooming 20 per cent on back of over six-fold jump in average trading volumes. Since November, the stock price of this paper company has surged 54 per cent after the company reported a strong 69 per cent year-on-year (YoY) jump in its net profit at Rs 29.76 crore in September quarter. Revenue from operations grew 13.8 per cent YoY at Rs 222 crore.

 

The company said it continues to focus on manufacturing various Biodegradable and Compostable Specialty Papers having barrier properties which are used as input for sustainable packaging solution for various food products, pharmaceutical and other products, hospital supplies, hygiene sectors, confectionary etc., which are witnessing high growth in demand.