Mumbai: Even as a majority of large cap stocks are finding it tough to make significant headway into positive territory today, a few stocks from the smallcap space are marching ahead on unusually large volumes.
Three smallcap stocks, Aban Offshore, Tinplate and Welspun India, figure in the top ten list of most actively traded securities on the bourses at present.
Aban Offshore is on the verge of hitting a new 52-week high. The stock vaulted to Rs 250 and is currently up 13.5% at Rs 247.80. It had touched a high of Rs 259.45 on 3 February 2017. On the National Stock Exchange, the Aban Offshore counter has clocked a volume of about 11.6 million shares so far in the session.
On BSE, the counter has recorded a volume of nearly 2.2 million shares so far in today's session, about 4.4 times the average dily volume of 4.97 lakh shares.
Tinplate, up 13.2% at Rs 303.70, soared to a new 52-week high at Rs 311 earlier in the session. The Tinplate counter on NSE has clocked a volume of Over 11.1 million shares so far in the session. On BSE, the counter has recorded a volume of 1.97 million shares so far today, nearly 8 times the average daily volume of 2.5 lakh shares.
Welspun India is up 7.5% at Rs 78.90, after rising to a high of Rs 82.50 and registering its biggest rise in almost 2 years, earlier in the session. The stock tops the chart on the National Stock Exchange, clocking a turnover of over Rs 636 crore, on a volume of about 84 million shares. On BSE, the counter has recorded a volume of about 8.23 million shares, almost 30 times the average daily volume of 2.75 lakh shares.
At the Welspun India counter on NSE, about 47 million shares changed hands in block deals today, with a single trade involving over 36 million shares. On BSE, a big deal worth 1.6 million shares took place at the counter.
Welspun India had announced on Tuesday that it has incorporated Welspun Nexgen Inc., a wholly owned subsidiary, registered with the state of Delaware, USA. The company, with a paid-up capital of $4.25 million, will invst in e-commerce companies.
Among other smallcap stocks that are rising on strong volumes today are, Excel Corp (12.5%), Infinite Computer Solutions (12.2%), Balasore Alloys (8.4%) and HFCL (7.8%).