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  5. Five stocks hit the circuits today: Premier Explosives, EPACK Durable, Sagility India and MIC Electronics hit the upper circuit, while Sky Gold hit the lower circuit

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Five stocks hit the circuits today: Premier Explosives, EPACK Durable, Sagility India and MIC Electronics hit the upper circuit, while Sky Gold hit the lower circuit

Upstox
By Upstox News Desk

5 min read | Updated on December 24, 2024, 13:25 IST

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SUMMARY

In Tuesday's early session, the NIFTY50 index traded in green above the 23,800 mark. Premier Explosives hit the 10% upper circuit, while EPACK Durable, Sagility India and MIC Electronics hit the 5% upper circuit. Sky Gold hit the 5% lower circuit.

Stock list

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Five stocks hit the circuits today: Premier Explosives, EPACK Durable, Sagility India and MIC Electronics hit the upper circuit, while Sky Gold hit the lower circuit

The domestic equity bourses, NIFTY50 and SENSEX, are trading in the green, advancing by 0.34% and 0.32%, respectively. The Nifty Midcap 100 index and Nifty Smallcap 100 index are trading in green, advancing by 0.25% and 0.46%, respectively.

On the NSE, 47 stocks hit the upper price band (Upper Circuit), and 38 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 (December 24, 2024)

Premier Explosives Ltd

Premier Explosives stock was locked in the 10% upper circuit at ₹567.65 in the early morning session of Tuesday. Recently, the company signed a Memorandum of Understanding (MOU) with Global Munition Limited, a subsidiary of NIBE Ordnance and Maritime Limited (NIBE Group Company), to set up a joint venture to manufacture Defence and Aerospace products. In the proposed joint venture, Global Munition Limited and Premier Explosives Limited will hold equity in the ratio of 51:49.

As of September 2024 company order book stands at ₹827 crore , which is approximately 3.0x of FY24 revenue. Premier Explosives is engaged in the manufacturing of industrial explosives and detonators. It also undertakes operation and maintenance (O&M) services of solid propellant plants at the Sriharikota Centre of ISRO and Solid Fuel Complex at Jagdalpur under the umbrella of DRDO. Premier Explosives has a market capitalisation of ₹3,000 crore.

EPACK Durable Ltd

EPACK Durable shares were locked in the 5% upper circuit at ₹477.80 in the early morning session of Tuesday. On December 07, 2024 company conducted the Bhoomi Poojan Ceremony for a new manufacturing plant situated at Sri City, Andhra Pradesh for the production of Air Conditioners and home appliances for Hisense International Singapore Holding Pte. Limited.

A few days back, the company reported Hisense has contracted EPACK Durable to set up an advanced dedicated manufacturing facility in India to produce Hisense's range of Air conditioners and Home Appliances. EPACK Durable will immediately invest, firstly, in a new manufacturing facility in Sri City (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 ₹4,500 crore.

Sagility India Ltd

Sagility India hit the 5% upper circuit limit at ₹48.93 in the early morning session today. Recently, 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, the profit was ₹22.29 crore. Over the past month, shares of the company have risen by 75%.

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 ₹22,900 crore.

MIC Electronics Ltd

MIC Electronics shares hit the 5% upper circuit at ₹86.68 in the early morning session of Tuesday. Yesterday after the market closed company reported that the Competent Authority had approved the capacity cum capability assessment (CCA) of the company's GPS Location based Public Address & Passenger Information System (PAPIS) and LED Destination Boards in AC and Non -AC ICF & LHB Coaches.

MIC Electronics is a global leader in the design, development & manufacturing of LED Video Displays, high-end Electronic and Telecommunication equipment and development of Telecom software since 1988. The company has a market capitalisation of ₹2,000 crore.

Stocks hitting the lower circuit on Tuesday (December 24, 2024)

Sky Gold Ltd

Sky Gold stock got locked in the 5% lower today at ₹387.50 in the early morning session of Tuesday. On December 16, the company had a record date for the bonus of 9:1, which was approved by its board in early November. This means that it will issue nine new bonus equity shares of ₹10 each for every existing equity share of ₹10 each.

The company declared strong financial results for Q2FY25. On a consolidated basis, revenue from operations for Q2FY25 stood at ₹768.8 crore, growing 94.2% year over year and 6.3% quarter over quarter. PAT for Q2FY25 stood at ₹36.7 crore, increasing by 405.2% compared to the same quarter last year.

For Q2FY25, it has raised ₹270 crore through a Qualified Institutional Placement (QIP) from renowned funds like Motilal Oswal Small Cap Fund, Kotak Mahindra Life Insurance and Bank Of India Flexi Cap, among others. Scaling of acquired companies, i.e., Sparkling Chains and Starmangalsutra, to achieve target sales of ₹500 crore by Q4FY25. Manufacturing margin-accretive 18-carat gold and diamond jewellery, the company has added CaratLane and P N Gadgil Jewellers to the client portfolio. For Q2FY25, the revenue split for export was 9%, and domestic stands at 91%.

Sky Gold designs, manufactures, and markets gold jewellery. It has a market capitalisation of ₹5,600 crore.

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