Smallcap stocks shine; Aban Offshore, Tinplate, Welspun India sparkle

Last Updated: Wed, Jan 10, 2018 16:10 hrs
A man looks at a screen across the road displaying the Sensex on the facade of the Bombay Stock Exchange building in Mumbai

Mumbai: Even as a majority of large cap stocks found it tough to make significant headway into positive territory today, a few stocks from the smallcap space posted handsome gains, 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 today.

Aban Offshore is on the verge of hitting a new 52-week high. The stock vaulted to Rs 257.30, falling short of a record high of Rs 259.45 it had touched on 3 February 2017, and eventually ended the day with a gain of 15.7% at Rs 252.40. On the National Stock Exchange, the Aban Offshore counter clocked a volume over 24 million shares in the session.

On BSE, the counter has recorded a volume of about 4.213 million shares today, over 8 times the average daily volume of 4.97 lakh shares.

Tinplate, up 14.5%, soared to a new 52-week high at Rs 319.45 in the session. The Tinplate counter on NSE clocked a volume of nearly 20.2 million shares. On BSE, the counter recorded a volume of more than 3.5 million shares today, about 14 times times the average daily volume of 2.5 lakh shares.

Welspun India ended with a gain of 4.2% at Rs 76.45, after having risen to a high of Rs 82.50 intraday. The Welspun counter, which was the most active in terms of value of business done, till mid afternoon, ended second best in the end, as Jet Airways moved past it towards the closing minutes. Welspun logged its biggest intraday gain in two years before retreating from higher levels.

The Welspun India counter on NSE clocked a turnover of over Rs 707 crore, on a volume of about 93.2 million shares. On BSE, the counter recorded a volume of about 9.37 million shares, more than 34 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 rallied on strong volumes today were, SOM Distilleries (20%), Balasore Alloys (14%), Tata Sponge (12%), Excel Corp (12%), Infinite Computer Solutions (10.1%) and HFCL (7.5%).