Four stocks hit the upper circuit today: E2E Networks, Hind Rectifiers, Black Box and Indo Tech Transformers

Domestic equity bourses, NIFTY50 and SENSEX, are trading in the green, advancing by 0.66% and 0.65%, respectively. The Nifty Midcap 100 index and the Nifty Smallcap 100 index are trading in the green, advancing by 1.16% and 0.98%, respectively.

On the NSE, 94 stocks hit the upper price band (Upper Circuit), and 8 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 06, 2024)

E2E Networks Ltd

The investment will take place via preferential allotment for a 15% stake in E2E Networks, comprising 29.79 lakh equity shares of E2E Networks, which carry a face value of ₹10, at a price of ₹3,622.25 apiece for an aggregate amount of ₹1,079 crore. The issue price is at a discount of nearly 24% to Monday's closing price of E2E Networks.

Investment via secondary acquisition of a 6% stake from the founder for a total investment of ₹328 crore. The secondary stake will be purchased at a price of ₹2,750 per share, which is a discount of 43% from Monday's closing price of E2E Networks.

Earlier, the company declared strong financial results for Q2FY25. It reported a 119.55% increase in total income from ₹22.05 crore in Q2FY24 to ₹48.41 crore. PAT has increased by 109.84% from ₹5.79 crore in Q2FY24 to ₹12.15 crore.

Ace Investor Ashish Kacholia's name appeared in the company's shareholding. He holds a 1.05% stake in the company, which was revealed in the second quarter filing of FY25. On October 25, the company reported that it was the first company to bring NVIDIA H200 Tensor Core GPUs to the Indian market.

A few months back, the company successfully closed a strategic investment round, securing ₹420.51 crore through a preferential issue of equity shares. E2E Cloud is a MeitY-empanelled AI-focused cloud provider. E2E Networks has a market capitalisation of ₹8,800 crore. Over the past one year, the stock has gained significantly by 899%.

Hind Rectifiers Ltd

Incorporated in April 1958, Hind Rectifiers is primarily engaged in developing, designing, manufacturing, and marketing Power Semiconductor, Power Electronic Equipments and Railway Transportation Equipments. It has a market capitalisation of ₹2,200 crore. Over the past year, the company's shares have gained by 89%.

Black Box Ltd

Recently the company reported that its promoters Essar Telcom Limited pledge shares of 6.34% of the company Black Box has been released. Company order book increased to $475 million on June 30, 2024. It has a market capitalisation of ₹9,200 crore. Over the past one year, the stock has soared 124%.

Indo Tech Transformers Ltd

Indo Tech Transformers manufactures power and distribution transformers, various special application transformers, mobile substation transformers, and substations. The company has a market capitalisation of ₹2,700 crore. Over the past year, its shares have increased by 398%.