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  5. Garden Reach Shipbuilders, Transformers & Rectifiers India, and Genus Power Infrastructure hit the upper circuit, while E2E Networks hits the lower circuit on Monday

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Garden Reach Shipbuilders, Transformers & Rectifiers India, and Genus Power Infrastructure hit the upper circuit, while E2E Networks hits the lower circuit on Monday

Upstox
By Upstox News Desk

3 min read | Updated on July 01, 2024, 13:17 IST

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SUMMARY

On Monday, the NIFTY50 index traded in positive terrain near 24,100 levels. Garden Reach Shipbuilders & Engineers hit the 10% upper circuit while Transformers & Rectifiers India, Genus Power Infrastructure and GTL Infrastructure hit the 5% upper circuit while E2E Networks hit the 5% lower circuit.

Stock list

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Garden Reach Shipbuilders, Transformers & Rectifiers India, and Genus Power Infrastructure hit the upper circuit, while E2E Networks hits the lower circuit on Monday

Garden Reach Shipbuilders, Transformers & Rectifiers India, and Genus Power Infrastructure hit the upper circuit, while E2E Networks hits the lower circuit on Monday

Domestic equity bourses, NIFTY50 and SENSEX, were seen trading in the green on Monday. As a result, NIFTY50 hovered around the 24,100 mark and SENSEX traded higher by 200 points above the 79,200 level. Both the frontline indices were seen trading with gains of 0.25%. The Nifty Midcap 100 index and the Nifty Smallcap 100 index gained 0.70% and 1.16%, respectively.

_In the morning session on Monday, on NSE, 117 stocks hit the upper price band (Upper circuit) and 56 stocks hit the lower price band (Lower Circuit). _

Here is the list of stocks (market cap above ₹1,000 crore) locked in upper circuits in today’s trading session.

Stocks hitting the upper circuit on Monday (July 01, 2024)

Garden Reach Shipbuilders & Engineers Ltd

Shares of Garden Reach Shipbuilders & Engineers (GRSE) hit a 10% upper circuit at ₹2,309.50 in the Monday morning session. This morning the company reported that it has received an order from the Ministry of Defence, Government of the People's Republic of Bangladesh. The order is to construct and deliver one advanced Ocean Going Tug, with a contract size of approximately $21 million. The project is expected to be completed within 24 months.

Garden Reach Shipbuilders & Engineers is a premier shipbuilding company in India under the administrative control of the Ministry of Defence, primarily catering to the shipbuilding requirements of the Indian Navy and the Indian Coast Guard.

Transformers & Rectifiers India Ltd

Shares of Transformers & Rectifiers India hit 5% upper circuit at ₹761.45 on the Monday morning session. Just before the market opened, the company announced that it has secured three different orders from NCC Limited, Power Grid Corporation of India and Adani Energy Solutions Limited, with order values of ₹72.50 crore, ₹55.91 crore and ₹20.14 crore, respectively. As of March 31,2024 company unexecuted order book stands at ₹2,582 crore.

Transformers and Rectifiers (India) is a manufacturer of power, furnace and rectifier transformers. The company has a market capitalization of ₹11,400 crore. Over the past year, its shares have delivered a return of 665%.

Genus Power Infrastructure Ltd

Incorporated in 1992 and a part of the Kailash Group, Genus Power's shares locked in the upper circuit at ₹325.10 in early trade this Monday morning. Genus Power is primarily engaged in manufacturing/providing metering and metering solutions and undertaking engineering, construction and contracts on a turnkey basis. The company operates through two segments: Metering business and Strategic investment activity.

Genus Power has a market capitalization of ₹9,800 crores. Over the past year, its shares have climbed 156%.

Stocks hitting the lower circuit on Monday (July 01, 2024)

E2E Networks Ltd

On Monday morning, shares of E2E Networks got locked in a 5% lower circuit at ₹1,642.05. Over the past year, E2E Networks' shares have increased by 867%. The stock had been hitting back-to-back upper circuits hitting a new 52-week high of ₹2,000 on June 13, 2024. However, it took a U-turn after reaching a 52-week high.

The lower circuit hit on Monday can be attributed to profit booking among the investors after the stock soared to new highs. E2E Networks is an NSE-listed AI-focused hyperscale cloud platform, offering advanced cloud GPUs and a comprehensive ecosystem of cloud technologies designed for the development and deployment of AI/ML applications. It has a market capitalisation of ₹2,350 crore.

About The Author

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