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BSE midcap, smallcap indices close at new highs; 35 stocks hit record highs

November 23
17:25 2017
The S&P BSE Midcap and the S&P BSE Smallcap indices settled at their respective new highs on the closing basis on the BSE, following a strong rally in education, pharmaceutical, chemicals, infrastructure and jewellery stocks.

The S&P BSE Smallcap index ended at record high of 17,943.86 on closing level on Thursday surpassed its previous high of 17,910.90 on November 6, 2017. The S&P Midcap index too closed at new high of 16,836.18, surpassed it earlier high of 16,794.23 on November 21, 2017.


The smallcap index touched intraday-high of 18,018.32, and is 14.59 points away from its record high of 18,032.91 hit on November 7, 2017 in intra-day trade. While, the midcap index hit a high of 16,850.56, is 29.08 points away from all-time intra-day high of 16,879.64 touched on the same day.

Aptech, MT Educare and Praj Industries were up 20% on the BSE. Diamond Power & Infrastructure, Speciality Restaurants, Shirpur Gold Refinery, Bajaj Electricals, Ugar Sugar Works, Gitanjali Gems, Shankara Building Products, Precision Wires India, Zen Technologies and Grauer & Weil (India) were up more than 10%.

The 35 stocks from the smallcap index include Gillette India, Oberoi Realty, TVS Motor Company, Eveready Industries, VIP Industries, Tata Metaliks, Finolex Cables, JMC Projects, KNR Constructions, Bhansali Engineering & Polymers and Lux Industries from the midcap and smallcap index hit their respective new highs.

Arrow Greentech (AGTL) has surged 14% to Rs 554 on the BSE in intra-day trade after the company said that it has secured patent for manufacturing embedded water soluble film carrier in United States of America (US). The company is engaged in manufacturing bio-degradable water soluble film.

AGTL said it has received a grant for patent titled “method of manufacturing embedded water soluble film carrier” Patent No. 9744695 dated 29 August 2017, from United States of America Patent Office.

This invention relates to a water-soluble film (WSF) system with actives embedded/entrapped therein to provide precise and desired release of pharmaceutical actives there from and its method of manufacturing for diverse applications.

Indoco Remedies hit 52-week high of Rs 314, up 12%, extending its 6% gain on the BSE. While announcing September quarter (Q2FY18) results on November 7, 2017, the pharmaceutical company had said that it will soon commence production of some of the existing ophthalmic products from Goa plant II for US market, which will help partial revival of growth of the company’s formulation business.

Indoco Remedies had reported profit after tax of Rs 19.76 crore in Q2FY18 as against Rs 22.13 crore for the same period last year.

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