Small-cap stock below ₹100 on cusp of breakout; Should you buy?

Small cap stock under ₹100: BCL Industries witnessed strong propulsion today after the release of an order book update on Wednesday, November 27, fueling the stock to gain nearly 4 per cent. BCL Industries disclosed that the company had received the acceptance letter on November 26 for a tender offer floated by Rajasthan State Ganganagar Sugar Mills Ltd asking to supply 60 lakh litres of Extra Neutral Alcohol in six months, as per the BSE filing on Wednesday. BCL Industries Ltd shares closed 3.21 per cent higher at ₹55.70 after Wednesday's trading session, compared to ₹53.97 at the previous market close. Yearly chart of BCL Industries “Short-term investors can hold the stock for ₹69 target and fresh investors can also buy the stock keeping stop loss below ₹51.50,” said Ojha.