Stock To Buy: This Small Cap Stock Has Gained Over 7.5%; More Upside Seem

This small cap stock from the construction and civil-contracting space-Innovators Facade Systems in trade on Friday (February 18, 2022) is up by over 7% and hit the day's high price of Rs. 79 per share on the BSE. On the YTD basis, the scrip's return are at 56%, while its 1-week's return has been over 13%.

In its filing dated February 16, 2022, the company informed of the work order of approx. Rs. 70 crore that it received from Lodha Group for designing, supplying, fabrication and installation of facade work in Mumbai region.

Also, before that the company as part of Statutory requirements revealed the shareholding pattern for the December ended quarter. As per which, promoter and promoter group held 1,20,20,350 shares, while public holding is in 68,47,458 shares. Also, note ace investor Vijay Kedia has 10.66% stake in the company.

20% Further upside seen in the stock in next 1 month

This stock can further move higher to Rs. 90 by next month. Experts take on the stake is "The small-cap stock is surging because it has recently received work order worth ₹70 crore from Lodha Group for facade work in Mumbai region. Company works as vendor to real estate company and outlook for real estate companies are positive. Hence, one can expect further rise in this Vijay Kedia share for short to medium term", views as put by Avinash Gorakshkar, Head of Research at Profitmart Securities.

Suggesting positional investors to buy and hold the counter; Sumeet Bagadia, Executive Director at Choice Broking said, "Those who have this stock in their portfolio should hold the counter for next one month target of ₹90. The stock is in uptrend and one can buy the stock at current market price for immediate target of ₹80 and one month target of ₹90 maintaining stop loss at ₹60. Any dip in the counter should be seen as buying opportunity till it is above ₹60 levels."

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