Fedbank Financial Services, Sagility India, Zaggle Prepaid Ocean Services, Black Box and Kernex Microsystems (India) hit the upper circuit

Domestic equity bourses, NIFTY50 and SENSEX, are trading in the red, declining by 0.03% and 0.07%, respectively. The Nifty Midcap 100 index and the Nifty Smallcap 100 index are trading in the green, gaining 0.10% and 0.78%, respectively.

On the NSE, 63 stocks hit the upper price band (Upper Circuit) and 22 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 Wednesday (November 27, 2024)

Fedbank Financial Services Ltd

Shares of Fedbank Financial Services hit the 20% upper circuit limit at ₹113.80 on BSE in the early morning session of Wednesday. Yesterday there was news that South Indian Bank entered a Co-Lending arrangement with Fedbank Financial Services Ltd. This association has been formalised by the signing of a Master Service Agreement and both institutions to a mutually beneficial partnership. The partnership is aimed at exploring and maximising business opportunities through combined efforts in the Gold Loan Sector. By joining forces, South Indian Bank and Fedbank Financial Services Limited aim to capitalise on emerging market trends, de-risk their portfolios, and provide innovative financial solutions to a broader customer base. The partnership will enable better servicing for the unserved and underserved sectors. Both institutions are confident that this alliance will not only strengthen their market positions but also contribute significantly to the growth of the financial industry.

Fedbank Financial Services is a subsidiary of The Federal Bank provides Gold Loans, Home Loans, Loan Against Property (LAP), and Business Loan Services. It has a market capitalisation of ₹4,200 crore.

Sagility India Ltd

Sagility India stock hit the 10% upper circuit limit at ₹34.69 in the early morning session of Wednesday. This comes as the company declared strong financial results for Q2FY25. Revenue from operations for the quarter under review jumped 21% YoY to ₹1,325 crore compared to ₹1,094.10 crore in Q2FY24. PAT came at ₹117.34 crore, up 236% YoY, in the same quarter last year, the company's profit was ₹34.96 crore and in the last quarter, profit was ₹22.29 crore.

The company was listed recently on November 12, 2024, at a 3.5% premium over the IPO price. Sagility is a technology-enabled, healthcare-focused solutions and services provider that supports U.S.-based payers, providers, and their partners in delivering best-in-class operations, enhancing member and provider experiences, and improving the quality of care, all while ensuring cost-effective financial and clinical outcomes. The company serves five of the top ten health insurance companies in the U.S., utilising its advanced technology, processes, and solutions to ensure efficient operations and minimise additional administrative costs. It has a market capitalisation of ₹15,200 crore.

Zaggle Prepaid Ocean Services Ltd

Shares of Zaggle Prepaid Ocean Services hit the 5% upper circuit at ₹490.85 on the NSE during Wednesday's early session. The surge followed the company’s announcement of a partnership agreement with Mastercard Technology Private Limited. Under this Referral Partnership Agreement, Mastercard will promote Zaggle’s SaaS platform, payment, and card products to corporate customers and other ecosystem entities on a referral basis. The agreement is set to remain in effect for seven years. Recently the company declared strong financial results for Q2FY25. Company revenue for this quarter stands at ₹302.6 crore, which reflects a growth of 64% compared to the same period last year. The PAT has more than doubled to ₹18.6 crore compared to ₹7.6 crore in the previous year.

Zaggle builds world-class financial solutions and products to manage the business expenses of corporates, SMEs and Startups through automated and innovative workflows. It has a market capitalisation of ₹6,000 crore.

Black Box Ltd

Black Box stock hit the 5% upper circuit at 613.25 on NSE in the early morning session of Wednesday. Recently the company declared strong financial results for Q2FY25. In Q2FY25, Black Box’s revenue stood at ₹1,497 crore, down 4.90 YoY, Profit After Tax surged by 60% YoY to ₹51 crore and EBITDA margins improved by 260 basis points YoY to 9%. The company order book stands at $455 million as of September 2024.

The company remains in the spotlight as the digital infrastructure market is evolving rapidly with increased demand for data centres as AI technology advances. The Black Box is well positioned to capture growth in the data centre market, particularly in India, where digital infrastructure spending is expected to rise significantly due to rising capex from hyperscalers and cloud providers.

Black Box is a global digital infrastructure integrator offering connectivity and network solutions, data centre solutions, modern workplace solutions, and cybersecurity solutions. It has a market capitalisation of ₹10,000 crore.

Kernex Microsystems (India) Ltd

Shares of Kernex Microsystems (India) locked in a 5% upper circuit limit in the morning session of Wednesday at ₹1057.90. Incorporated in 1991, Kernex Microsystems manufactures and sells Safety Systems and Software services for Railways.

Recently, the company declared strong financial results for Q2FY25. On a consolidated basis, Total Income for Q2FY25 stood at ₹41.48 crore, registering a growth of 2,384% on a YoY basis and 43.48% on a QoQ basis. PAT for Q2FY25 stood at ₹6.81 crore, compared to a net loss of ₹4.53 crore in the same quarter last year. The company has a market capitalisation of ₹1,600 crore.