Quick bets? Trading ideas for 6 buzzing smallcaps

Dalal Street is putting up a stellar show for the fourth consecutive day, boosted by strong global cues. The Sensex rose 129 points to 18,621 and the Nifty advanced 37 points to 5,582. So, what are the key metrics necessary to trade small cap stocks and make the most of the bullish trend. Here's a list of six news-driven stocks attracting upbeat sentiments.

Stocks of El Forge have spurted 20% on news that the company has set June 30, 2011 as the date for rights issue in the ratio of three equity shares for every two stocks held (i.e. 3:2).

Likewise, shares of Ashiana Housing are witnessing an upswing after the company announced that one of its wholly owned subsidiaries, Topwell Projects Consultants, has acquired approximately 40 acres of land situated at Bhiwadi in Rajasthan.

The third stock buzzing on radar is Burnpur Cement as investors are speculating that the company's board is planning to raise funds. Meanwhile, Shree Ganesh Jewellery House is also attracting bullish trader sentiments on acquisition reports. The jewelry maker is planning to acquire two global ventures in 2011-12.

Agro tech is also moving up in today's trade after brokerage house, Anand Rathi, raised its target price from Rs 428 to Rs 450 on expectations of volume growth. Furthermore, restructuring reports have driven Axis IT&T up 10%.