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  5. Akums Drugs & Pharmaceuticals and Eimco Elecon (India) hit the upper circuit, while Indo Tech Transformers hit the lower circuit today

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Akums Drugs & Pharmaceuticals and Eimco Elecon (India) hit the upper circuit, while Indo Tech Transformers hit the lower circuit today

Upstox
By Upstox News Desk

2 min read | Updated on August 28, 2024, 14:33 IST

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SUMMARY

On Wednesday, the NIFTY50 index traded in negative terrain above 25,000 levels. Akums Drugs & Pharmaceuticals and Eimco Elecon (India) hit the 5% upper circuit, while Indo Tech Transformers hit the 5% lower circuit today.

Stock list

AKUMS
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EIMCOELECO
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INDOTECH
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Akums Drugs & Pharmaceuticals and Eimco Elecon (India) hit the upper circuit, while Indo Tech Transformers hit the lower circuit today

Akums Drugs & Pharmaceuticals and Eimco Elecon (India) hit the upper circuit, while Indo Tech Transformers hit the lower circuit today

Domestic equity bourses, NIFTY50 and SENSEX, were trading with marginal losses, with both declining by 0.02%. However, the Nifty Midcap 100 index and Nifty Smallcap 100 index are in the green, increasing by 0.04% and 0.26%, respectively.

On the NSE, 70 stocks hit the upper price band (Upper Circuit), and 39 stocks hit the lower price band (Lower Circuit).

Here is the list of stocks (market cap above ₹1,000 crore) locked in upper and lower circuits in today’s trading session.

Stocks hitting the upper circuit on Wednesday (August 28, 2024)

Akums Drugs & Pharmaceuticals Ltd

Shares of Akums Drugs & Pharmaceuticals hit the 5% upper circuit at ₹899.30. Akums Drugs stock made a debut on the bourses on August 6, 2024. On NSE and BSE, shares of the company opened at ₹725 apiece, up 6.8% from the issue price of ₹679.

Established in 2004, Akums Drugs and Pharmaceuticals is a pharmaceutical contract development and manufacturing organization (CDMO) offering a comprehensive range of pharmaceutical products and services. The company has a market capitalisation of ₹14,000 crore.

Eimco Elecon (India) Ltd

The stock of Eimco Elecon (India) has been locked in the 5% upper circuit at ₹3,222.10 for the past few days. This rally is fueled by renewed investor confidence following a rebound from ₹2,620.80 price level. Additionally, the company's recent ₹28 crore order is expected to further drive share price growth.

Eimco Elecon (India) manufactures and markets equipment for underground and opencast mines. It was the first company to introduce the intermediate technology of Side Dump Loaders, Load Haul Dumpers, and Rocker Shovel Loaders in India. The company has a market capitalisation of ₹1,850 crore. Over the past year, its shares have climbed by 325%.

Stocks hitting the lower circuit on Wednesday (August 28, 2024)

Indo Tech Transformers Ltd

Indo Tech Transformers shares were locked in a 5% lower circuit at ₹2,103.90 in the early morning session of Wednesday. Over the past six months, the company's shares have increased by 109%, and over the past year, they have gained 370%. Profit booking among investors could be one of the reasons for today's lower circuit.

Indo Tech Transformers manufactures power and distribution transformers, various special application transformers, mobile substation transformers, and substations. The company has a market capitalisation of ₹2,200 crore.

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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