16 BSE small-cap stocks rallied 15-29% last week; Nucleus Software Exports gained the most
Nucleus Software Exports stood as the top gainer during the week, with a gain of over 29%. The stock picked up steam on October 05 after the company said that Mahindra Rural Housing Finance, a subsidiary of Mahindra & Mahindra Financial Services Limited, implemented its software FinnOne Neo for their retail and mortgage lending operation. After this announcement, the stock experienced a one-way rally, hitting a new all-time high of ₹1,521 apiece in Friday's session and rallying 50% to date.
Shakti Pumps (India) shares also saw massive rally, with returns of nearly 24.3%. In Friday's trading session, the shares spiked another 10.32% to record a new all-time high of ₹1,224.65. In the previous session (October 19), the stock was locked in a 20% upper circuit limit after the company said it received a Letter of Empanelment from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for 50,000 Off-Grid solar photovoltaic water pumping systems (SPWPS) pumps for the entire state of Maharashtra under Component B of the PM-KUSUM scheme (Phase III).
The total value of the 50,000 pumps is around ₹1,603 crore, which is to be executed over 24 months, as per the company's exchange. In just last six months, the company's shares have more than doubled investor wealth, generating a return of 161.50%, and in the last three years, they have skyrocketed by 339%. Ion Exchange (India) shares in Friday's session hit a record high of ₹687 apiece, spiking by 13.17%.
This surge propelled the stock to achieve a 24% gain for the week. Notably, the stock has been on an impressive bullish trend this year, delivering a remarkable return of 137% so far. The next small-cap stock that made strides in the market was Newgen Software
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