Honasa Consumer, Atul Auto and Reliance Power hit the upper circuit today; here’s why

Domestic equity bourses, NIFTY50 and SENSEX, are trading in the green, both advancing by 0.31%. The Nifty Midcap 100 index and the Nifty Smallcap 100 index are trading in the green, gaining 0.51% and 0.47%, respectively.

On the NSE, 93 stocks hit the upper price band (Upper Circuit) and 11 stocks hit the lower price band (Lower Circuit).

Honasa Consumer Ltd

Yesterday, Varun Alagh, Co-founder and Chief Executive Officer of Honasa Consumer Limited, the parent company of Mamaearth, boosted his share in the company to 31.93% with a ₹4.5 crore investment, according to NSE records.

Honasa reported a 6.9% year-on-year decline in Q2FY25 revenue, primarily due to a one-time inventory correction in its general trade (GT) channel and weaker-than-expected performance from Mamaearth. The company also highlighted challenges in consumer demand and acknowledged the need for structural changes in its operating model to adapt to the evolving market landscape.

Honasa Consumer provides beauty and personal care products. It has a market capitalisation of ₹9,200 crore.

Reliance Power Ltd

Recently, the company reported that Rosa Power Supply Company Limited (Rosa Power), a subsidiary of Reliance Power Limited, has prepaid ₹485 crore loan to Singapore-based lender Varde Partners. By prepaying this loan, Rosa Power has achieved a zero-debt status, fully settling its outstanding debt by payment of ₹1,318 crore to Varde ahead of the original schedule.

Earlier, the company approved the issuance of up to $500 million (₹4,200 crore) in Foreign Currency Convertible Bonds (FCCBs) on a private placement basis to affiliates of Varde Investment Partners. These FCCBs will have a low interest rate of 5% per annum, are unsecured, and carry a 10-year tenure. They are convertible into approximately 82.30 crore equity shares at a conversion price of ₹51.

Reliance Power has been established to develop, construct and operate power projects in India and internationally. The company has a market capitalisation of ₹16,500 crore.

Sky Gold Ltd

Earlier in the month of November, the company announced that its board had approved the issue of bonus shares in the 9:1 ratio. This means that it will issue nine new bonus equity shares of ₹10 each for every one existing equity share of ₹10 each. Recently, the company fixed Monday, December 16, 2024, as the Record Date for determining the equity shareholders of the company eligible for bonus equity shares.

For Q2FY25, company highlights are - that 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 ₹6,000 crore.

Atul Auto Ltd

Atul Auto sold 151 units of EV-L5 as compared to 43 units last year. The three-wheeler IC Engine vehicles also saw a 33.85% rise in sales in November as the company sold 2,151 units of these vehicles, compared to 1,607 units in the same month last year.

However, overall Level 3 EV sales dipped 15.16% in November 2024. The number of vehicles sold in the month dropped to 526 from 620 last year.

Atul Auto manufactures and sells auto rickshaws in domestic and overseas markets. The company has a market capitalisation of ₹1,800 crore.