Despite the fall of 850 points in the Sensex, these smallcap stocks touched the upper circuit today

Sensex It closed at 58,773.87, down 872.28 points or 1.46%. Nifty 50 slipped 267.75 points or 1.51% to end at 17,490.70. Banking stocks were the biggest hit, while auto, IT and metal stocks dragged down the performance. All sectoral indices remained in the red. Besides, heavy profit-booking in the index heavyweights added to the crisis.

Feather MarketVinod Nair, Head of Research, Geojit Financial Services, said, “An anticipation of a tighter monetary policy by the Fed and concerns about a slowdown in global economic activity had triggered a consolidation in the market. The current risk-reward side is not on the Nifty 50 as investors are now Trading at a premium valuation of 21.5x P/E (1 year FWD basis) above the long-term average. The rising dollar index and higher US 10-year bond yields acted as near-term headwinds for the market. Huh. “

Shrikant Chauhan, Head of Equity Research (Retail), Kotak Securities, further said, “Market sentiment may remain volatile in the coming sessions as global concerns of weak demand and fall in US-China crude oil prices remain focused. Will go over Taiwan.”

These three smallcap stocks have outperformed the markets:

cmake:

Cmake shares closed on upper circuit on BSE up by 1044 174 or 20%. The market cap of the company is approx. 2,654.37 crore. It is listed in ‘B’ category of BSE.

In Q1 FY23, Seamec posted strong growth in bottom-line front with consolidated PAT 22.65 crores growing 12.60 crore in Q1FY22 and 4.76 crores in Q4FY22. Revenue from operations at . came in 125.40 crore in Q1FY23. more than 72.99 crore in Q1FY22 and 85.29 crore in Q4FY22.

SEAMEC is the region’s leading provider of Diving Support Vessel (DSV) based diving services.

Ritesh Properties & Industries:

On BSE, shares of Ritesh Properties froze on their upper circuit increasing by 390 each 65 or 20%. The market cap of the company is approx. 953.27 crores. It is listed on BSE under ‘X’ group.

Last week, the company fixed September 03 as the record date for stock split of equity shares by the face value of 10 each to Re 1 on each share.

During the first quarter of FY23, Ritesh Properties posted a consolidated net profit of 5.03 crores as compared to 11.99 crore in Q1FY22 and 10.14 crore in Q4FY22. Consolidated revenue also declined 24.29 cr in Q1FY23 58 crore in Q1FY22 and 40.96 crore in Q4FY22.

Ritesh Properties is a leading company with business interests in the real estate and fashion industry.

Sakuma Exports:

Shares of Sakuma closed on BSE 16.40 each, an increase of 19.62%. Shares close at day’s high 19.45 per and 20% upper circuit 19.68 each. The market cap of the company is approx. 384.68 crores.

Sakuma is listed on BSE under ‘B’ Group.

In Q1FY23, Sakuma Exports reported a standalone net profit of Rs. 5.96 crore more than 4.71 crore in Q1FY22 but less than 9.91 crore in Q4FY22. stood on revenue from operations Growing against 859.59 crores in Q1FY23 544.93 crore in Q1FY22, however, declining from 1,064.16 crore in Q4FY22.

Sakuma is currently a public limited company and a reputable player in global commodity trading, with a portfolio mix of multiple commodities, clients and geographies. Over the years, the company has carved a niche for itself by catering to commodity requirements in India, Middle East, South and South East Asia, Far East, Australia, Europe and Africa.

The company is engaged in procurement, processing, marketing, export and import of agricultural commodities such as sugar, edible oils, pulses, cotton, and several specialty crops.

first article