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  5. GE T&D India and Aurionpro Solutions hit the upper circuit while Mahanagar Telephone Nigam hit the lower circuit

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GE T&D India and Aurionpro Solutions hit the upper circuit while Mahanagar Telephone Nigam hit the lower circuit

Upstox
By Upstox News Desk

4 min read | Updated on August 02, 2024, 19:06 IST

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SUMMARY

After reaching new heights on Thursday, the Indian market on Friday had witnessed a sharp sell-off. The NIFTY50 index traded in the red with a decline of 1% at the 24,764 level. GE T&D India and Aurionpro Solutions hit the 5% upper circuit while Mahanagar Telephone Nigam hit the 5% lower circuit.

Stock list

AURIONPRO
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GE T&D India and Aurionpro Solutions hit the upper circuit while Mahanagar Telephone Nigam hit the lower circuit

GE T&D India and Aurionpro Solutions hit the upper circuit while Mahanagar Telephone Nigam hit the lower circuit

Domestic equity bourses, NIFTY50 and SENSEX, closed in the red on Friday, both declining by 1%. Nifty Midcap 100 index and Nifty Smallcap 100 index were in the red, declining by 0.96% and 0.79%, respectively.

In the morning session on Friday, on the NSE, 57 stocks hit the upper price band (Upper circuit), and 79 stocks hit the lower price band (Lower Circuit).

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

Stocks hitting the upper circuit on Friday (August 02, 2024)

Aurionpro Solutions Ltd

Shares of Aurionpro Solutions hit 5% upper circuit in the early morning session of Friday at ₹1,728.15. On July 31, the company reported that it has secured a major deal with Malaysia's leading bank to modernise its corporate lending processes. The deal is valued close to USD 3 million and is expected to be implemented over a 15 months period.

Recently, the company reported strong financials for Q1FY25. On a consolidated basis, for Q1FY25, the company reported 32% growth in total income from ₹199 crore in Q1FY24 to ₹262 crore. PAT has increased by 41% from ₹32 crore in Q1FY24 to ₹45 crore. As of Q1FY25, the company order book stands at ₹1,000 crore plus.

Aurionpro Solutions is an advanced technology solutions company catering to the needs of the Banking, Mobility, Payments and Government sectors. The company converges multiple technology solutions under our umbrella, acting as one platform for Advanced and Accelerated Platform-led Transformation, guiding businesses to ADAPT to a new paradigm in Digital. The company has a market capitalisation of ₹9,400 crore. In the last year, shares of the company have surged 212%.

GE T&D India Ltd

On Friday, the shares of GE T&D India locked for a second consecutive day at a 5% upper circuit at ₹1,731.30. The company declared strong financial results for Q1FY25. On a consolidated basis, for Q1FY25, the company reported 32.98% growth in total income from ₹729.53 crore in Q1FY24 to ₹970.14 crore. Profit After Tax (PAT) has increased by 376.42% from ₹28.24 crore in Q1FY24 to ₹134.54 crore.

For the first time in the past 13 quarters company’s PAT has increased by more than ₹100 crore. For the Q1FY25 company has received new orders worth ₹1,029 crore and total order book of the company stands at ₹6,280.9 crore.

GE T&D India is the entity of GE Vernova’s Electrification business in India. It has been in the power transmission and distribution business for more than 100 years and provides a versatile range of solutions for connecting and evacuating power from generation sources onto the grid. It has a market capitalisation of ₹44,300 crore. Over the past one year shares of the company have surged by 612%.

(₹ in crores)Growth
ParticularsQ1FY25Q4FY24Q1FY24YoYQoQ
Total Income970.14919.31729.5332.98%5.53%
PAT134.5466.2928.24376.42%102.96%

Stocks hitting the lower circuit on Friday (August 02, 2024)

Mahanagar Telephone Nigam Ltd

In the early morning session of the Friday shares of Mahanagar Telephone Nigam got locked in the 5% lower circuit at ₹75.09. Mahanagar Telephone Nigam is engaged in providing telecom services and 56.25% of the company shares are with the President of India.

Over the past one month shares of the company have seen a sharp rise in its value from around ₹45-46 to hit a 52 week high of ₹101.88 on July 29. In the past month it has increased over 120%. The company has a market capitalisation of ₹4,700 crore.

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