EPACK Durable, Kalyani Investment Company and Ravindra Energy hit the upper circuit while Aurionpro Solutions and PC Jeweller hit the lower circuit today

Domestic equity bourses, NIFTY50 and SENSEX, are trading in the red, declining by 0.28% and 0.19%, respectively. The Nifty Midcap 100 index and Nifty Smallcap 100 index are trading in the red, falling by 1.12% and 1.99%, respectively.

On the NSE, 42 stocks hit the upper price band (Upper Circuit), and 94 stocks hit the lower price band (Lower Circuit).

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

Stocks hitting the upper circuit on Tuesday (October 22, 2024)

EPACK Durable Ltd

Hisense has contracted EPACK Durable to set up an advanced dedicated manufacturing facility in India to produce Hisense range of Air conditioners and Home Appliances, including washing machines, refrigerators and other small domestic appliances using Hisense’s proprietary technology & designs. EPACK Durable will immediately invest, firstly, in a new manufacturing facility in Sricity (Andhra Pradesh) with a capacity of 1 million RACs by FY27-28, with initial production set to begin in June 2025. This strategic cooperation agreement with Hisense is likely to garner additional revenue of approximately $1 billion over the next 5 years for EPACK Durable and its subsidiary.

Incorporated in 2019, EPACK Durable is an Original Design Manufacturer (ODM) of room air conditioners (RAC). It stands second in production volumes for Room Air-conditioners. The company has a market capitalisation of ₹3,900 crore. Over the past six months, the stock has gained 111%.

Kalyani Investment Company Ltd

Kalyani Investment Company is a part of the Kalyani Group. It is a Core Investment Company holding more than 60% of its net assets in the form of investments in equity shares of Group Companies, while more than 90% of its net assets in the form of investments in equity/preference shares of or debentures/debts in Group Companies.

The company has a market capitalisation of ₹3,500 crore. Over the past year, the company's shares have gained 195%.

Ravindra Energy Ltd

On October 16 after the market closed Ravindra Energy reported that it had raised ₹179 crore by selling 24.3 million equity shares. The allotment of 24.3 equity million shares was at a face value of ₹10 per equity share and a premium of ₹64 per equity share on a preferential basis. The equity shares were allotted to 29 non-promoter entities.

The largest allottees were COEUS Global Opportunities Fund (2.43 million), Quant Mutual Fund - Quant Manufacturing Fund (2.43 million), Mukul Mahavir Agrawal (2.16 million) and New Vernon India (1.68 million). The company has a market capitalisation of ₹2,250 crore. Over the past year shares of the company have gained by 130%.

Stocks hitting the lower circuit on Tuesday (October 22, 2024)

Aurionpro Solutions Ltd

Aurionpro Solutions is an advanced technology solutions company catering to the needs of the Banking, Mobility, Payments and Government sectors. It covers multiple technology solutions under our umbrella, acting as one platform for Advanced and Accelerated Platform-led Transformation, guiding businesses to ADAPT to a new paradigm in Digital. It has a market capitalisation of ₹9,000 crore.

PC Jeweller Ltd

The company’s preferential issue of 48,13,42,500 Fully Convertible Warrants has been completed. The proposed allottees, including the promoter group, subscribed 99.89%, amounting to an issue size of ₹2,702.11 crore. Out of which ₹2,025 crores will be used for repayment of bankers' outstanding debts. Earlier the company received approval from all fourteen consortium member banks to approve the Offer for Settlement (OTS) proposal.

Recently, the company announced a 1:10 stock split, approved by its board of directors on September 30, 2024, to enhance liquidity and make the shares more affordable for retail investors. According to the company's official filing, this move will subdivide each fully paid-up equity share of ₹10 face value into 10 shares of ₹1 each. As a result, the total number of shares will increase from approximately 46.5 crore to 465.4 crore.

PC Jeweller manufactures, sells, and trades gold, diamond-studded, and silver jewellery and operates in different geographical areas. It has a market capitalisation of ₹7,700 crore.