Suprajit Engineering emerges as the super duper stock of small cap

When the markets are on the bull run, it definitely benefits the small horses. Suprajit Engineering, the small cap stock on September 16 has emerged as the highest gainer in small cap index. The scrip of the company has surged over 15.40 per cent and as at 12.40 pm is trading at Rs 230. The shares of the company which on September 15 closed at Rs 199, opened at Rs 202.95 and are up by 30 rupees. Shares of the company, in the last 5 days have rallied over 20 per cent majorly on the acquisition of Wescon Controls LLC.

Company has bought Wescon Control for the price of about 295 crores. On September 14, it had informed the bourses that Wescon Controls, LLC, which the company acquired is headquartered in Wichita, Kansas, and is the leading designer and manufacturer of mission-critical mechanical cable and electronic controls for the North American outdoor power equipment (OPE) market and a significant supplier to other non-automotive controls markets.

Meanwhile Suprajit Engineering, which was incorporated in 1985 makes two-wheeler control cables. It has 16 plants, out of which 15 ,are located in India and one in the UK.