Apollo Micro Systems, Insolation Energy and Indo Tech Transformers hit the upper circuit, while Waaree Renewable Technologies hit the lower circuit

On Tuesday, the BSE Sensex opened negative and is currently trading around the 73,800 level, down by 175 points. Meanwhile, the BSE Midcap index rose by 31 points at 43,079, on the other hand, the BSE Smallcap index is down by 68 points and is trading at 47,890 levels. These four stocks with a market capitalisation of over ₹1,000 crore hit the upper circuit in the morning session.

Stocks hitting the upper circuit on Tuesday (May 21, 2024)

Shares of Apollo Micro Systems touched 5% upper circuit at ₹118.65. Yesterday the company reported financial results for the fourth quarter end and financial year that ended on March 31, 2024. On a consolidated basis for the fourth quarter, the company has reported a 26.76% growth in revenue from operations. In the same time frame, it has reported a 79.23% surge in PAT. For the year end FY24 the company has reported growth of 66.01% surge in PAT. Apollo Micro Systems is a pioneer in the design, development, assembly and testing of electronic and electro-mechanical solutions. It has a market capitalisation of ₹3,300 crore. Over the past year shares of the company have surged by 253%.

On Tuesday Insolation Energy stock got locked in the 5% upper circuit after it reported strong financials for the second half year and financial year that ended on March 31, 2024. On a consolidated basis, the company has reported a 164.71% growth in total income for the financial year 2024 compared to the financial year 2023. In the same time frame, it has reported a 419.50% surge in PAT. Insolation Energy is engaged in the business of manufacturing solar panels and modules of high efficiency of various sizes. The company's 200 MW SPV Module manufacturing unit is located in Jaipur. It has a market capitalisation of ₹4,800 crore. Over the past year shares of the company have surged by 1513.18%.

Shares of Indo Tech Transformers hit a back-to-back 5% upper circuit at ₹1,516.50 ahead of its financial results. The company announced that it will hold a board meeting on May 23 to discuss and approve financial results for the fourth quarter end and financial year that ended on March 31, 2024. Indo Tech Transformers Ltd is engaged in the business of manufacturing power and distribution transformers and various special application transformers, mobile substation transformers and substations. It has a market capitalisation of ₹1,600 crore. Over the past year shares of the company have surged by 665%.

Stocks hitting lower circuit on Tuesday (May 21, 2024)

Waaree Renewable Technologies stock is consistently hitting back-to-back 5% lower circuits. The share price has risen to the overbought zone, indicating a sustained increase over time. However, it has now plunged to the lower circuit, likely due to investor profit-taking. This suggests that investors who bought the stock earlier at a lower price are now selling to lock in their profits, leading to a drop in demand and share price. The stock has been witnessing profit booking amid a vertical price rise and is up by over 480% on a YTD basis. Waaree Renewables Technologies is engaged in the business of the generation of power through renewable energy sources and it has a market capitalization of ₹20,600 crore. In the last six months, shares of the company have surged by over 613%.