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  5. Dhampur Bio Organics, RattanIndia Power, Aurionpro Solutions, PC Jeweller and others hit the upper circuit

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Dhampur Bio Organics, RattanIndia Power, Aurionpro Solutions, PC Jeweller and others hit the upper circuit

Upstox
By Upstox News Desk

7 min read | Updated on September 23, 2024, 14:51 IST

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SUMMARY

On Monday, the NIFTY50 index traded above the level of 25,900. Dhampur Bio Organics hit a 20% upper circuit, while RattanIndia Power, Aurionpro Solutions, PC Jeweller, Tribhovandas Bhimji Zaveri, Unitech and Reliance Power hit a 5% upper circuit. GE T&D India and Panacea Biotec hit a 5% lower circuit.

Stock list

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Dhampur Bio Organics, RattanIndia Power, Aurionpro Solutions, PC Jeweller, Tribhovandas Bhimji Zaveri, Unitech and Reliance Power hit the upper circuit, while GE T&D India and Panacea Biotec hit the lower circuit today

Dhampur Bio Organics, RattanIndia Power, Aurionpro Solutions, PC Jeweller, Tribhovandas Bhimji Zaveri, Unitech and Reliance Power hit the upper circuit, while GE T&D India and Panacea Biotec hit the lower circuit today

Domestic equity bourses, NIFTY50 and SENSEX are trading in the green, advancing by 0.34% and 0.23%, respectively. The Nifty Midcap 100 index and the Nifty Smallcap 100 index are trading positively, up by 0.54% and 0.77% respectively.

On the NSE, 117 stocks hit the upper price band (Upper Circuit), and 52 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 (September 23, 2024)

Dhampur Bio Organics Ltd

Shares of Dhampur Bio Organics hit the 20% upper circuit at ₹163.93 in the early morning session on Monday. The surge in the share price is mainly due to a breakout on a daily chart basis where investors are looking highly bullish; hence, this sentiment drove the share price. The share also saw a spurt in volume by more than 7.96 times.

Incorporated in 2022, Dhampur Bio Organics manufactures sugar, chemicals, ethanol, co-generation of power and other allied products. The company has a market capitalisation of ₹1,020 crore. It is focused on repositioning itself as a value-added sugar manufacturer on one hand and a bio-energy company on the other. The three manufacturing facilities – in Asmoli, Mansurpur and Meerganj; are strategically located close to each other enabling better utilisation of resources and increased synergies in production and management.

RattanIndia Power Ltd

RattanIndia Power stock hit a 5% upper circuit at ₹15.19 in the early morning session on Monday. The company is set to hold its 17th Annual General Meeting on September 30, 2024. RattanIndia Power is one of India’s largest private power generation companies. It has a market capitalisation of ₹8,150 crore. In the last one year, shares of the company have surged by 132%.

Aurionpro Solutions Ltd

Shares of Aurionpro Solutions got locked in the 5% upper circuit at ₹1,710.30 in the early morning session on Monday. Aurionpro Solutions works in providing business solutions in the fields of Transaction Banking Platforms, Customer Experience (ACE Platform), Smart City and Smart Transportation experience and Cybersecurity solutions. The company primarily offers software products and consulting services to the banking industry in India and abroad.

The company has a market capitalisation of ₹9,400 crore. In the last one year, the stock has surged by 170%.

PC Jeweller Ltd

Popular jewellery brand PC Jeweller locked in the upper circuit of 5% in the morning session of Monday at the price of ₹146.45. The company is set to hold the 19th Annual General Meeting (AGM) on Monday, September 30, 2024.

Recently, the company declared strong financial results for Q1FY25. In the quarter, the company reported a 505.67% increase in total income from ₹72.61 crore in Q1FY24 to ₹439.78 crore. PAT increased from a net loss of ₹171.62 crore in Q1FY24 to ₹156.06 crore. After six consecutive quarters of loss-making, the company generated profits this quarter.

Additionally, the company has settled its outstanding dues through One-Time Settlement (OTS) from many banks, including IDBI Bank, IDFC First Bank, Indian Bank, Indian Overseas Bank, Bank of Baroda, IndusInd Bank, and Canara Bank. 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 ₹6,800 crore and has surged 451% in shares in the last year.

Tribhovandas Bhimji Zaveri Ltd

The stock of Tribhovandas Bhimji Zaveri was locked in the 5% upper circuit at ₹283 in the early morning session. Last week the company opened its 35th store and 5th franchise store at Satya Nagar, Bhubaneshwar, Odisha.

Incorporated in 2007, Tribhovandas Bhimji Zaveri (TBZ) is in the business of retail sales of ornaments made of gold, diamond, silver, platinum and precious stones. The company has a market capitalisation of ₹1,900 crore and over the past six months, shares have surged by 167%.

Unitech Ltd

Shares of Unitech were locked in the upper circuit at ₹11.51 in the early morning session of Monday. Incorporated in 1971, Unitech is in the business of Real Estate, Power Transmission and Hospitality. On September 19 the company reported that Unitech Limited has paid consideration for acquiring 9,37,500 equity shares of face value of ₹10 each at a premium of ₹150 per equity share, Unitech Holdings Limited (UHL), a wholly-owned subsidiary. UHL is registered as a Non-Banking Financial Company (NBFC), with the Reserve Bank of India (RBI).

The company has a market capitalisation of ₹3,000 crore and over the past one year company shares have surged by 240%.

Reliance Power Ltd

Reliance Power shares got locked in the upper circuit and hit fresh 52 week high at ₹38.16 in the early morning session of Monday. This comes after the company has been released and discharged of its corporate guarantee, undertakings and all obligations and claims in relation to the outstanding debt of subsidiary Vidarbha Industries Power Limited (VIPL), amounting to ₹3,872.04 crore. The company has settled all disputes with CFM Asset Reconstruction Private Limited (CFM), as 100% shares of VIPL have been pledged in favour of CFM against the release and discharge of corporate guarantee given by Reliance Power.

Reliance Infrastructure, which held a 23.15% stake in Reliance Power as of June 30, advanced by 45% over the last one week. Reliance Power has been established to develop, construct and operate power projects in India and internationally. The company has a market capitalisation of ₹15,300 crore and over the past one year company shares have surged by 102%.

Stocks hitting the lower circuit on Monday (September 23, 2024)

GE T&D India Ltd

On Monday, the shares of GE T&D India hit the 5% lower circuit limit at ₹1,496.05. The lower circuit limit was hit after the GE T&D India promoters, Grid Equipments Private Ltd and GE Grid Alliance B.V. (formerly Alstom Grid Holding B.V.) announced a proposed offer for sale(OFS). Since the news of OFS company shares have been hitting lower circuits every trading days.

The floor price of the offer will be ₹1,400 per equity share. The OFS involves up to 11.7% of the company’s equity share capital, which amounts to 30 million shares. Each share has a face value of ₹2. The promoters have also included an oversubscription option to sell an additional 3.9% of equity, representing 10 million shares, which could increase the total sale to 15.6% of the company’s paid-up equity share capital, if fully exercised. This means the total potential offer size could reach 40 million shares.

GE T&D India is the entity that runs GE Vernova’s Electrification business in India. It has been in the power transmission and distribution business for more than 100 years and provides a versatile range of solutions for connecting and evacuating power from generation sources onto the grid. It has a market capitalisation of ₹38,800 crore.

Panacea Biotec Ltd

Panacea Biotec stock hit the 5% lower circuit limit at ₹298.05 in the early morning session today. The scrip has consistently hit the upper circuit for the past few trading days. Over the past three months the stock surged by 150%, after rising in triple digits in such a short span of time, investors would have opted to take profit off the table, which could have led the stock to hit a lower circuit limit for the day.

Panacea Biotec is a global pharmaceutical and vaccine manufacturer based in New Delhi, Mumbai, and Lalru. The company researches, develops, manufactures, and markets pharmaceuticals, vaccines, biosimilars, and natural products.

Over the past three months, the company's shares have surged as currently India lacks an antiviral treatment or licensed vaccine for dengue. Panacea Biotec is working on a dengue vaccine, which has been in development since 2006.

Additionally, the company recently announced the settlement of a legal dispute with Sanofi Healthcare India Private Limited (Sanofi). On May 17, 2021, Panacea Biotec filed a lawsuit in the Delhi High Court to prevent Sanofi from marketing a fully liquid hexavalent vaccine that would infringe on Panacea’s patent for its wP-IPV based fully liquid hexavalent vaccine, EasySix. The company has a market capitalisation of ₹1,900 crore.

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