India still claims to be in the limelight in the steel industry globally and the demand for steel in the country, according to the outlook of ‘The World Steel Association’, is expected to show decent growth of approximately 7.70 percent in 2024 compared to global growth of 1.9 percent.
Listed below are three stocks under the ‘small-cap’ category in which Foreign Institutional Investors (FIIs) increased their stake by up to 4 percent during the quarter ended March 2024:
Kamdhenu Limited
With a market capitalization of Rs 1,440.91 crores, the stocks of Kamdhenu Limited started their trading session on Tuesday at Rs 534.95 and currently trade at Rs 535, gaining approximately 2 percent compared to the previous closing levels of Rs 524.40 apiece.
According to the latest shareholding pattern data, Foreign Institutional Investors (FIIs) have increased their stake in Kamdhenu Limited by approximately 3.42 percent, i.e., from 0.78 percent during Q3FY24 to 4.20 percent during Q4FY24.
During the recent financial quarters, the company’s prime indicators of business, viz, its operating revenues as well as after-tax profits, witnessed movements in opposing directions.
The former, on one end, decreased from Rs 185 crores during Q2FY24 to Rs 155 crores during Q3FY24, and the latter, on the other end, increased marginally from Rs 10 crores to Rs 11 crores.
Hariom Pipe Industries Limited
With a market capitalization of Rs 1,629.44 crores, the stocks of Hariom Pipe Industries Limited started their trading session on Tuesday at Rs 565.35 and currently trade at Rs 566, gaining approximately 0.30 percent compared to the previous closing levels of Rs 564.45 apiece.
According to the latest shareholding pattern data, Foreign Institutional Investors (FIIs) have increased their stake in Hariom Pipe Industries Limited by approximately 3.93 percent, i.e., from 2.58 percent during Q3FY24 to 6.51 percent during Q4FY24.
During the recent financial quarters, the company’s prime indicators of business, viz, its operating revenues as well as after-tax profits, witnessed a dip in numbers.
The former decreased from Rs 302.15 crores during Q2FY24 to Rs 280 crores during Q3FY24, and the latter, keeping the time horizon the same, took a downward shift from Rs 14.78 crores to Rs 9.81 crores.
Goodluck India Limited
With a market capitalization of Rs 2,951.80 crores, the stocks of Goodluck India Limited started their trading session on Tuesday at Rs 941.05 and currently trade at Rs 931, slipping approximately 0.70 percent compared to the previous closing levels of Rs 936.95 apiece.
According to the latest shareholding pattern data, Foreign Institutional Investors (FIIs) have increased their stake in Goodluck India Limited by approximately 3.96 percent, i.e., from 1.24 percent during Q3FY24 to 5.20 percent during Q4FY24.
During the recent financial quarters, the company’s prime indicators of business, viz, its operating revenues as well as after-tax profits, witnessed a dip in numbers.
The former decreased from Rs 886 crores during Q2FY24 to Rs 878 crores during Q3FY24, and the latter, keeping the time horizon the same, took a downward shift from Rs 35 crores to Rs 32 crores.
Written by Amit Madnani
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