Four stocks hit the circuits today: PC Jeweller, Sky Gold and Sagility India hit the upper circuit while Panacea Biotec hit the lower circuit

Domestic equity bourses, NIFTY50 and SENSEX, are trading in the red, declining by 0.83% and 0.87%, respectively. Market participants are being cautious ahead of the Fed meeting. The Nifty Midcap 100 index and the Nifty Smallcap 100 index are trading in the green, advancing by 0.20% and 0.17%, respectively.

On the NSE, 86 stocks hit the upper price band (Upper Circuit), and 32 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 17, 2024)

PC Jeweller Ltd

The popular jewellery brand hit the 5% upper circuit limit in the morning session of Tuesday at ₹19.17. Yesterday, the company had a record date for the stock split in the ratio of 10:1 which was 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.

The company declared strong financial results for Q2FY25. On a consolidated basis, the company reported a 10.99% increase in total income from ₹494.24 crore in Q2FY24 to ₹548.54 crore. PAT has increased from a net loss of ₹138.13 crore in Q2FY24 to a net profit of ₹178.88 crore.

Sky Gold Ltd

The company declared strong financial results for Q2FY25. On a consolidated basis, revenue from operations for Q2FY25 stood at ₹768.8 crore, registering a growth of 94.2% on a YoY basis and 6.3% on a QoQ basis. PAT for Q2FY25 stood at ₹36.7 crore, registering a growth of 405.2% as compared to the same quarter for the previous year.

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 ₹7,000 crore and has increased its shares by 337% over the past year.

Sagility India Ltd

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 ₹20,500 crore.

Stocks hitting the lower circuit on Tuesday (December 17, 2024)

Panacea Biotec Ltd

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. In March 2022, the company partnered with the Indian Council of Medical Research (ICMR) for this project. The company has a market capitalisation of ₹2,800 crore. Over the past six months shares of the company have risen by 246%. Profit booking in the volatile market could be one of the reason for today's lower circuit.