BSE SME IPO index movement
Shares of small and medium enterprises (SME) were on a roll with the BSE SME IPO index hitting a 52-week high of 116,204.81, gaining 1 per cent on the BSE in Monday’s intra-day trade. In comparison, the BSE Sensex was down 0.6 per cent at 12:25 PM.
The BSE SME IPO index quoted at its highest level since January 2025, and was 5 per cent away from its record high of 122,298.30 touched on January 6, 2025, the exchange data shows.
Thus far in September 2026, the BSE SME IPO index outperformed the market by surging 4 per cent, against a 1 per cent decline in the BSE Sensex. In August, the SME IPO index rallied 11 per cent, compared to a 1.5 per cent fall in the benchmark index. Further, since April, the BSE SME IPO index zoomed 57 per cent, compared to a 5.8 per cent rise in the BSE Sensex.
18 stocks from BSE SME IPO index hit record highs
A total of 18 stocks from the BSE SME IPO index were trading at their respective record high levels. The list includes Millworks Technologies, Technocrafts Plasma, Admach Systems, Airflo Rail Technologies, Exato Technologies, Susan Electricals and Tipco Engineering.
The company is a leading manufacturer of steel wires and cables, with a strong presence across both legacy and new-age infrastructure products. It is an approved vendor for key government and utility bodies, including RDSO and Power Grid Corporation of India Limited, and is a development vendor for Fibre Armoured Optical Fibre Cables and Optical Ground Wires (OPGW).
In August, Systematic Industries announced the acquisition of a Galvanized Iron (GI) Wire manufacturing facility located at Siltara, Chhatƫisgarh. The acquired facility spans approximately 10 acres and has an installed capacity of 48,000 metric tonnes per annum (MTPA) of GI wires. This acquisition aligns with the company’s long-term strategy of scaling its core wire business and strengthening its presence in infrastructure-linked segments.
Airfloa is mainly engaged in manufacturing, processing, assembling, developing, and designing all types of railway rolling stocks, passenger rail coaches and their discrete components, rail wagons and their discrete components, and locomotives and their discrete components.
The outlook for Airfloa remains positive, supported by the continued growth and modernisation of railway infrastructure and increasing emphasis on enhancing rail connectivity, safety, and passenger experience. The company in its FY26 annual report said that it is well positioned to leverage its manufacturing capabilities, technical expertise, and industry experience in the railway rolling stock segment to participate in emerging opportunities arising from the expansion and upgradation of railway systems.
With continued government investment, strong domestic demand, and increasing private sector participation, the rolling stock manufacturing industry is expected to remain one of India’s fastest-growing heavy engineering sectors, the company said.
On September 4, 2026, Devson Catalyst announced the successful development of its Ammonia Decomposition Catalyst through its in-house R&D and technical capabilities. The Ammonia Decomposition Catalyst is a comparatively higher-value product within the company’s existing catalyst portfolio.
The company also announced that it received commercial orders for the newly developed product from NMDC and Tata Steel, following customer evaluation and approval. The order received from Tata Steel represents the first order for this product from Tata Steel, the company said.
“The receipt of the first order from Tata Steel following this successful application provides further validation of our product and its performance. We believe this can open new opportunities for us across relevant industrial applications. We will continue to focus on developing specialized catalyst solutions based on customer and industry requirements,” the management said.
Tipco Engineering is an integrated process equipment manufacturer engaged in the design, fabrication, assembly and supply of industrial machinery for mixing, milling, dispersion and homogenization applications.
The company’s product portfolio spans four core series — Mill Series (bead mills, attritor mills, basket mills and pug mills), Disperser Series (high-speed, twin-shaft, triple-shaft and vacuum dispersers) and Homogeniser Series (in-line, in-tank, high-shear homogenisers and liquid-powder mixing machines). These products serve formulation-intensive industries, including paints and coatings, speciality chemicals, pharmaceuticals, food processing, cosmetics, printing inks, adhesives and construction chemicals.
Management guided for revenue of ₹180 crore or above in FY27, supported by contributions from both existing operations and the initial phase of the Pune facility. The company enters FY27 with a list entity platform, a dual-facility expansion programme, two margin-accretive verticals gaining traction, a growing client roster across India’s largest industrial manufacturers and a strengthening balance sheet. The focus remains on disciplined capacity enhancement, margin improvement and building a scalable process equipment manufacturing platform from India.
