The BSE SME IPO index may have convincingly under performed the BSE IPO index over the past one month, but as many as 10 SME stocks have rallied up to 67 per cent during this period, overshadowing up to 26 per cent rise in the shares of their larger peers.
While data for all the stocks eligible for trading on the BSE SME platform — 113 in all — is unavailable, figures showed BSE SME index stocks such as Oceanaa Biotek Industries, Oasis Tradelink and Amrapali Fincap have surged between 42 per cent and 67 per cent in last one month.
This compares with an up to 26 per cent surge in the 27 constituents of BSE IPO index.
Shares of Oceanaa Biotek Industries, which has a specialised food testing laboratory, jumped 67.08 per cent to Rs 26.65 on Tuesday from Rs 15.95 a month ago.
Oasis Tardelink, which is engaged in the branded and packaged edible oils business, has seen its shares fall 44 per cent to Rs 99 from Rs 68.70 in the month-ago period. Amrapali Fincap has risen 42 per cent to Rs 91 from Rs 64 last month.
Mahabir Metallex (up 37 per cent), Vidli Resturants (up 29.85 per cent), Samruddhi Realty (20 per cent), Patdiam Jewellery (up 19 per cent) and BC Power Controls (up 17 per cent) were some of the other prominent gainers in the BSE SME IPO index last month.
Overall, out of 28 BSE SME index stocks that traded in April, 15 gave positive returns for the past one month, while 12 others – including VCU Data Management and Suncare Traders – plunged up to 50 per cent in the same period. Shares of Vishal Fabrics remained unchanged, data available with database AceEquity revealed.
The BSE SME IPO index gave 1.96 per cent return during the month. This is similar to the 1.23 per cent rise seen in the BSE Sensex, but lower than the 5.41 per cent rise in the BSE IPO index during the same period.
UFO Moviez (up 25.7 per cent), Interglobe Aviation (up 20 per cent) and Dr Lal Pathlabs (up 19.3 per cent) were among the top gainers in the BSE IPO index for the month.
A total of 129 SMEs have a market capitalisation of Rs 6,748 crore. Twenty-one SME stocks listed on BSE’s ITP platform, on the other hand, have a total market capitalisation of Rs 5,883 crore, BSE data showed.
Over 20 SMEs such as Trine Entertainment, Monarch Apparels, Narayani Steels, Bajaj Healthcare and Franklin Leasing and Finance have so far received approval for listing on the BSE SME platform.
Others such as Ekdant India, Diggi Multitrade, Octopus Papers and Diamond Power Transformer have filed red herring prospectus (DRHP) with the exchange.
During the March quarter, 23 SMEs filed draft papers to raise over Rs 200 crore through initial public offerings.
As many as 44 SMEs got listed on the capital market with initial public offerings worth Rs 290 crore in last financial year. This was higher than 37 SMEs raising Rs 271 crore during 2014-15.
Source: The Economic Times
