SmallCap Round Up: Trafalgar properties, GCM Resources, Kazera Global

The AIM All Share index has spent Wednesday trading in a narrow channel with only limited gains being seen by our mid-afternoon copy deadline. At 2pm, the junior market was up less than half a point at 739.7

• Trafalgar properties+39%
• GCM Resources +36%
• Kazera Global +14%
• Infrastructure India -80%
• Indus Gas -35%

Trafalgar Properties [LON:TRAF] topped the board at 2pm, adding 39% in the wake of news of a debt for equity swap. This does give the party who initiated the swap a significant stake in the underlying, but investors are taking a glass half full view here.

GCM Resources [LON:GCM] was sitting 36% higher, helping the stock resume the up trend that has been running for the past month. There’s no solid news but speculation is swirling that the Phulbari project may soon see further progress.

Kazera Global [LON:KZG] gets the notable mention, up 14% in the wake of interim results. There was nothing ground breaking in the update but management expressed confidence that this year would see the company fulfilling its potential. This is also a sub-£5m stock and the gains were within the quoted spread.

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Infrastructure India [LON:IIP] was down a hulking 80% at copy time. The stock returned from a six month trading suspension this morning following a delay in publishing accounts. With asset valuations decimated and liabilities ballooning, the latest numbers have been prepared on a basis “other than a going concern”. Action is underway to sell down assets but until this completes, the company appears to be in a delicate position.

Indus Gas [LON:INDI] was 35% lower at the time of writing. There’s no news here however and this is a thinly traded stock, although the losses are well in excess of the quoted spread. Price action has been elevated in recent weeks with no updates, but the momentum is seemingly weighted on the downside.

That’s it for the Small Cap roundup, as we’re taking a much needed break over the Easter period and we’ll be back on April 10th.