At least five BSE-listed stocks are set to rise up to 526 per cent in 2022, after falling anywhere between 50 per cent and 80 per cent in 2021, data compiled from corporate database AceEquity shows. Of these five stocks, three Narayani Steels, Growington Ventures India and Waxfab Enterprises have a market capitalization of less than Rs 100 crore. Rudra Global Infra Products, the fourth stock, enjoys an m-cap of Rs 236 crore, while one of the better known stocks among them, Ujjivan Financial Services, commands a market value of over Rs 3,600 crore.
Narayani Steels shares have gained 526 per cent in this calendar. The stock has moved up from the level of Rs 12.34 on December 31 to the level of Rs 77.35. This share was broken 59.40 percent in 2021. There has been no corporate action over the counter. Narayani Steels is engaged in trading and manufacturing of value added steel hot rolled long products. It deals in Bloom, Billet and TMT bars.
In November 2019, CARE Ratings revised its short (Rs 125 crore) and long term bank (Rs 97.50 crore) ratings on the company to Care D, indicating default (expected to be in default shortly) ). From January 2021 CARE said the issuer is not cooperating. Trading on this stock is restricted due to IBC income.
Shares of Growington Ventures India (formerly VMV Holidays) are up 348 per cent to Rs 73.30 today from Rs 9.12 at the beginning of this year. According to AceEquity, the stock had declined 52 per cent in the last year. The company is an importer of fresh fruits. According to its website, the company deals in fruits such as apples, green apples, oranges, mandarins, pears, kiwis, dragon fruit, avocados, red globe grapes, plums, nectarines, peaches, cherries and blueberries.
Rudra Global Infra Products saw a decline of 59 per cent in 2021. This stock increased by 176 percent in 2022. The company is engaged in manufacturing of TMT bars, billets, pipes and wires which are sold under the brand name Rudra TMX. ths company had a Crisil B rating on Crisil A4 rating on Cash Credit, Term Loan and Bank Guarantees of ths company but Rudra’s rating status as of March 2021 was at “Issuer Not Responding” as per Aceequity.
When sufficient information is not received from the issuer as per regulatory timelines, CRISIL and other rating agencies flag the rating as ‘issuer not cooperating’.
Ujjivan Financial Services and Waxfab Enterprises have gained 132 per cent and 103 per cent, respectively. Ujjivan Financial Services was down 50 per cent in 2021 while Waxfab Enterprises was down 80 per cent for the year.
On October 7, 2015, Ujjivan received in-principle approval from the RBI to set up a small finance bank and set up its wholly owned subsidiary Ujjivan Small Finance Bank. The company transferred its business to Ujjivan SFB, which subsequently commenced its banking operations with effect from February 01, 2017.
After the transfer of business, Ujjivan Financial Services registered itself as a leading investment company.
Meanwhile, Waxfab Enterprises is in the business of high quality insulators and a variety of allied products. The company had diversified its business beyond insulators. It is also doing trading business of textile fabrics.
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