In 2022, five BSE-listed stocks have climbed up to 526 per cent, after falling anywhere between 50 per cent and 80 per cent in 2021, according to data from the corporate database AceEquity. Three of these five stocks, Narayani Steels, Growington Ventures India and Vaxfab Enterprises, have a market value of less than 100 crore. The fourth stock, Rudra Global Infra Products, has a m-cap of Rs 236 crore, while Ujjivan Financial Services, a better-known stock, has a market value of over 3,600 crore.
The share price of Narayani Steels has gone up 526 per cent this year. As of December 31, the stock has gone to Rs 77.35 level from Rs 12.34 level. This scrip had lost 59.40 per cent in 2021. Narayani Steels is engaged in the trading and manufacturing of hot rolled long products of value added steel. It trades in flowers, billets and TMT bars.
In November 2019, CARE Ratings revised its rating of the company's short Rs 125 crore and long term bank Rs 97.50 crore facilties to Care D, which denotes default is expected to be in default soon since January 2021, CARE said the issuer is not cooperating. The stock is restricted on account of IBC proceeds.
Shares of the newly formed VMV Holidays have rallied 348 per cent to Rs 73.30 level from Rs 9.12 level at the beginning of the year. The stock had fallen 52 per cent in the previous year, as per AceEquity. The company is a fresh fruit importer. The company deals in fruit like apple, green apple, orange, mandarin, pear, kiwi, dragon fruit, avocado, red globe grapes, plum, nectarines, peaches, cherries, and blueberries, among others.
In 2021, Rudra Global Infra Products saw a 59 per cent drop. This stock went up 176 per cent in 2022. This company is involved in the manufacturing of TMT bars, billets, pipes and wires that are sold under the brand Rudra TMX. Crisil had a rating of B on the company's cash credit, term loan and Crisil A 4 rating on bank guarantees, but since March 2021 Rudra's rating status stood at Issuer not responding as per AceEquity.
Crisil and other rating agencies label the rating as 'issuer not cooperating' when adequate information is not received from the issuer as per regulatory timelines.
Ujjivan Financial Services and Vaxfab Enterprises have risen 132 per cent and 103 per cent, respectively. Ujjivan Financial Services was down 50 per cent in 2021, while Vaxfab Enterprises was down 80 per cent for the year.
Ujjivan received an in-principle approval from the RBI to set up a small finance bank and floated its wholly owned subsidiary Ujjivan Small Finance Bank on October 7, 2015. The company transferred its business to Ujjivan SFB, which commenced its banking operations on February 01, 2017.
After the transfer of business, Ujjivan Financial Services was registered as a core investment company.
Vaxfab Enterprises is involved in the trading of high quality insulators and different types of allied products. The company had diversified its business apart from insulators. It is also involved in the trading of textile garments.