September Smallcap Picks: Why SEBI Analysts Are Bullish On KIMS, Affle, Titagarh, And Godawari Power

SEBI-registered analysts are bullish on select small-cap names across healthcare, digital ad-tech, railways, and metals, with KIMS, Affle, Titagarh Rail Systems, and Godawari Power emerging as top picks in September. 

Let's take a look at the rationale behind their bullish calls:

Krishna Institute of Medical Sciences (KIMS)

Aditya Thukral is bullish on Krishna Institute of Medical Sciences (KIMS). He noted that the stock has consistently been in a strong uptrend with the formation of higher highs and higher lows in medium-term as well as long-term charts. The stock is undergoing a three-wave correction, and Thukral believes that this correction is now on the verge of completion. Previous rallies were impulsive, and another impulse wave is expected. Past resistances now act as supports. 

He added that KIMS stock is well placed above the major exponential moving averages (100-day and 200-day), and is finding support around the 50-day exponential moving average (EMA), indicating a short-term correction. The 14-period Relative Strength Index (RSI) is reading near 46 levels, which provides buying comfort. 

Going ahead, Thukral expects the upmove to continue, with entry between ₹700-₹720, while maintaining stop losses below ₹615, which is slightly below the higher low of the previous rally. However, conservatively, one can expect the prices of ₹870 to be seen easily in the coming 2-3 months.

Affle India 

Pradeep Carpenter is bullish on Affle as it remains a structural growth story in the digital ad-tech space, with differentiated conversion-led economics and AI-driven targeting. Its strong financial profile and unique positioning in emerging markets support a long-term bullish outlook. The recent bullish reversal on technical charts further strengthens the case for medium-term accumulation, he added.

On the fundamentals, Carpenter highlighted that Affle's revenue is driven by its Consumer Platform (CPCU model), where advertisers pay only for actual user conversions, ensuring ROI-driven ad spends. Proprietary AI-led platforms (MAAS, RevX, Vizury, Jampp, mFaaS) support consumer targeting, fraud prevention, and real-time bidding. This positions Affle uniquely against global ad-tech giants in emerging markets.

On the technical front, a bullish engulfing candle has formed on the daily chart, signaling a reversal and renewed buying interest. Its 100-day and 200-day EMA confirm a sustained uptrend. And RSI has reversed upward from 41 levels, suggesting buyers are regaining control. 

Carpenter believes that buy signals strengthen above ₹1,923, and conviction improves above ₹1,930. Immediate resistance is seen at ₹1,960–1,970. A move above  ₹1,980 confirms a breakout, with target prices at ₹2,100 – ₹2,300 in the medium term, and a stop loss at ₹1,750.

Titagarh Rail Systems (TRSL) 

Front Wave Research believes that FY26 will be an inflection year for Titagarh Rail. Titagarh is at the cusp of transformation. PRS, which has been underutilised, will now start driving revenues and margins. They added that as Passenger Rail Systems (PRS) scales, the top line will get a spike, and the bottom line will aid return metrics as capacity utilisation inches higher on a consolidated level.  

On the technical front, the stock has been correcting for a year but is bottoming in this zone. They identified support at ₹670 to ₹775, with ₹725 as a stop loss. If the stock moves above ₹930 (200-day EMA), it would confirm a reversal and the start of a long-term rally. Sustained strength beyond that aligns with the fundamental PRS growth story, setting up for a longer-term re-rating, Front Wave concluded. 

Godawari Power & Ispat (GPIL)

Ashok Kumar Aggarwal is bullish on Godawari Power. The stock is trading with RSI above 60, and all moving averages in all time frame charts indicate strength. He shared a short to medium term buy between ₹230-₹235, with stop loss at ₹190 and target prices of ₹280 and ₹380.

Stocktwits' Yash Upadhyay breaks down these four small-cap stocks to add to your watchlist! Watch here to discover analysis and views from SEBI-registered advisors. 

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Disclaimer: The views and opinions expressed are those of the SEBI-registered analyst/advisor mentioned in the article, and are not endorsed by Stocktwits. This is not investment advice. Please do your own research or consult a financial advisor.

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