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Business News/ Markets / Stock Markets/  Stocks to watch: These small-cap stocks will be in focus for tomorrow!
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Stocks to watch: These small-cap stocks will be in focus for tomorrow!

Markets end lower after 4-week gain streak. Small-cap stocks in focus: Godfrey Phillips, Advait Infratech, Intellect Design Arena.

Apart from the earnings, we have been closely following the performance of global indices for cues and the prevailing buoyancy in the US markets gives us the comfort to hold the bullish view. (Reuters)Premium
Apart from the earnings, we have been closely following the performance of global indices for cues and the prevailing buoyancy in the US markets gives us the comfort to hold the bullish view. (Reuters)

On Friday, July 28th, the NSE Nifty 50 Index traded at 19,646, a modest decline of 14 points or 0.07 percent from the previous trading session. The index has lost 2.38 percent in the last four weeks, although its price has climbed 14.50 percent in the last year.

Ajit Mishra, SVP- Technical Research, Religare Broking said, "Markets ended 4-week long gaining streak and ended marginally lower, taking a breather after the recent surge. The tone was subdued from the beginning however the key indices tried to regain some strength in the middle but profit taking in final sessions trimmed the gains and pushed them into the red. Consequently, both the benchmark indices, Nifty and Sensex, closed at 19,646.05 and 66,160.20 levels respectively. Meanwhile, a mixed trend across sectors and the monthly expiry of July month derivatives contracts kept the participants occupied. The broader indices managed to outperform for yet another week and posted strong gains in the range of 1%-2%.

Apart from the earnings, we have been closely following the performance of global indices for cues and the prevailing buoyancy in the US markets gives us the comfort to hold the bullish view. However, we could see some volatility citing resistance around the 35800+ zone in Dow Jones Industrial Average (DJIA).

Nifty has almost retraced to the upper band of the critical support zone i.e. 19,300-19,500 and it may see further consolidation before resuming the trend. On the higher side, it could face a hurdle around the 19,850-20,000 zone during the week. We thus reiterate our advice to focus on identifying stock- specific trading opportunities with favorable risk to reward ratio."

The following Small-Cap stocks are likely to be in focus on Monday, July 31, 2023:

Godfrey Phillips India: The net profit surged 68.61% to 220.97 crore for the first quarter of fiscal year 2023-24. The shares of Godfrey Phillips India surged by nearly 9 per cent in the last trading session and closed at 2077.65 per share. In the past 5 trading sessions the stock skyrocketed by 26.5 per cent. For the year ending March 2023 Godfrey Phillips India has declared an equity dividend of 2200.00% amounting to 44 per share. 

Advait Infratech: The company informed the market that it had secured a 35.80 crore order for the provision of optical fibre ground wire. The order must be carried out within 12 months. Advait Infratech Ltd is a company that provides goods and solutions in the domains of power transmission, power substations, and telecommunication infrastructure.

Intellect Design Arena: On Friday, shares of Intellect Design Arena zoomed and got locked at 20 per cent upper circuit to trade at a new 52-week high level of 691.65 per share. The scrip witnessed massive spurt in volume by more than 5.40 times. The stock increased after the software company published strong Q1FY24 results on Thursday. Profit after Tax rose from 69 Cr in Q1 FY23 to 93 Cr in Q1 FY24, a 36% YoY increase.

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Published: 30 Jul 2023, 07:41 PM IST
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