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  5. Arrow Greentech, Shakti Pumps (India) hit the upper circuit while KPI Green Energy, GRSE, Cochin Shipyard and PC Jeweller hit the lower circuit

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Arrow Greentech, Shakti Pumps (India) hit the upper circuit while KPI Green Energy, GRSE, Cochin Shipyard and PC Jeweller hit the lower circuit

Upstox
By Upstox News Desk

5 min read | Updated on August 05, 2024, 14:21 IST

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SUMMARY

After reaching new heights last week (on Thursday), the Indian market sentiment has changed and witnessed a sharp sell-off on Friday and the momentum kept flowing on Monday as the NIFTY50 index traded in the red with a decline of 2.49%. Arrow Greentech hit the 20% upper circuit while Shakti Pumps (India) hit the 5% upper circuit. KPI Green Energy, GRSE, Cochin Shipyard and PC Jeweller hit the 5% lower circuit.

Stock list

ARROWGREEN
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KPIGREEN
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GRSE
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PCJEWELLER
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Arrow Greentech, Shakti Pumps (India) hit the upper circuit while KPI Green Energy, GRSE, Cochin Shipyard and PC Jeweller hit the lower circuit

Arrow Greentech, Shakti Pumps (India) hit the upper circuit while KPI Green Energy, GRSE, Cochin Shipyard and PC Jeweller hit the lower circuit

Domestic equity bourses, NIFTY50 and SENSEX, were trading in deep red on Monday, declining by 2.49% and 2.57%, respectively. Nifty Midcap 100 index and Nifty Smallcap 100 index also witnessed a severe sell-off, declining by 3.33% and 3.38%, respectively.

In the morning session on Monday, due to U.S. recession fear, Japan's rate hike, geopolitical tensions and mixed quarterly results most of the stocks are trading in red. On the NSE, 50 stocks hit the upper price band (Upper Circuit), and 220 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 Monday (August 03, 2024)

Arrow Greentech Ltd

Shares of Arrow Greentech hit the 20% upper circuit at ₹944.60 amid strong financial results for the Q1FY25 which was declared on Saturday, August 03, 2024. Total Revenue for Q1FY25 stood at ₹66.1 crore, compared to ₹43.9 crore in Q1FY24 registering a growth of 51%. PAT for Q1FY25 was at ₹20.2 crore as compared to ₹9.3 crore in Q1FY24 registering a growth of 116%. Companies PAT margins expandedexpanded by 920 bps in Q1FY25 marking a strong recovery in a challenging industry environment.

Arrow Greentech specialises in biodegradable and high-tech products, notably as India's largest manufacturer of Water Soluble Films, including innovative solutions like Mouth Dissolving strips. Over the past year, the company's shares have increased by 170%. It has a market capitalisation of ₹1,400 crore.

Shakti Pumps (India) Ltd

Shakti Pumps (India) stock hit the 5% upper circuit at ₹4,930.20 amid a big order from the Department of Agriculture, Uttar Pradesh. On August 2, the company reported that received a Letter of Intent from the Department of Agriculture, Uttar Pradesh for 12,537 pumps for the entire state of Uttar Pradesh under Component-B of the PM-KUSUM scheme (Phase-III). The total value of the work order is approximately ₹558.16 crores inclusive of GST which is to be executed within March 31, 2025. The order is to supply, install and commission solar water pumping systems.

Recently the company reported strong financials for Q1FY25. The company reported 402% growth in net sales from ₹113.08 crore to ₹567.56 crore, and net profit increased by 9,166% from ₹1 crore to ₹92.66 crore. As of June 30, 2024, the company's order book stands at ₹2,000 crore.

Shakti Pumps (India) Ltd is primarily engaged in manufacturing pumps and motors of various kinds. It also offers advanced water pumping solutions for a wide range of applications, such as irrigation, horticulture, domestic water supply, and commercial and industrial applications. Over the past year, the company's shares have zoomed by 544%. It has a market capitalisation of ₹9,800 crore.

Stocks hitting the lower circuit on Monday (August 03, 2024)

KPI Green Energy Ltd

KPI green stock hit the lower circuit band of 5% of ₹957.55 in the early morning session of Monday. On August 2, the company received Letters of Intent for executing solar power projects with a cumulative capacity of 28.40 MW under the Captive Power Producer business segment of the company.

As of the July 25 notification company's cumulative portfolio of renewable energy will soar to 2,800+ MW, out of which 1,432+ MW is under the Independent Power Producer (IPP) segment and 1,368+ MW is under the Captive Power Producer (CPP) segment.

KPI Green Energy is a Gujarat-based company specialising in renewable energy solutions. They develop, build, own, and operate solar power plants, both as Independent Power Producers (IPP) and Captive Power Producers (CPP). It has a market capitalisation of ₹12,000 crore. Over the past year, shares have soared by 256%.

Garden Reach Shipbuilders & Engineers Ltd

Shares of Garden Reach Shipbuilders & Engineers (GRSE) touched the 5% lower circuit at ₹2,210.30 in the Monday morning session. Garden Reach Shipbuilders & Engineers is a premier shipbuilding company in India under the administrative control of the Ministry of Defence, primarily catering to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard.

The company is going to hold a board meeting on August 08, 2024, for approval of Quarterly Financial Results ending June 30, 2024. Over the past one year shares of the company have increased by 272%. The company has a market capitalisation of ₹25,600 crore.

Cochin Shipyard Ltd

Shares of Cochin Shipyard touched the 5% lower circuit at ₹2,410.15 in the Monday morning session. The company is a leading player in the construction of all types of vessels, and performing repairs, refits, periodic upgrades, and life extensions of ships. Over the past year, its shares have surged by 622%. As of March 31, 2024, the company’s order book stands at about ₹22,000 crore, with an additional ₹10,000 crore in the order pipeline. It is going to hold a board meeting on August 08, 2024, for approval of Quarterly Financial Results ending June 30, 2024.

PC Jeweller Ltd

Jewellery brand PC Jeweller was locked in a lower circuit of 5% in the morning session of Monday at the price of ₹90.32. Yesterday, the company reported that IDFC First Bank has accepted the One Time Settlement (OTS) proposal submitted by the company to settle their outstanding dues. Earlier, the company received approval on the OTS proposal submitted to the Bank of Baroda on July 20, 2024, IndusInd Bank on July 15, 2024, Canara Bank on July 24, 2024, and Indian Overseas Bank on August 01, 2024.

The company is going to hold an Extraordinary General Meeting (EGM) this week on Thursday, August 8, 2024. PC Jeweller manufactures, sells, and trades gold, diamond-studded, and silver jewellery and operates in different geographical areas. The company has a market capitalisation of ₹4,200 crore and has surged 218% in shares in the last year.

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