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  5. Genus Power Infrastructures, and Marine Electricals (India), hit the upper circuit while Solara Active Pharma hit the lower circuit

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Genus Power Infrastructures, and Marine Electricals (India), hit the upper circuit while Solara Active Pharma hit the lower circuit

Upstox
By Upstox News Desk

3 min read | Updated on July 03, 2024, 13:01 IST

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SUMMARY

On Wednesday, the NIFTY50 index traded in positive terrain near 24,280 levels. Genus Power Infrastructures, and Marine Electricals (India) hit the 5% upper circuit while Solara Active Pharma Sciences hit the 5% lower circuit.

Stock list

GENUSPOWER
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MARINE
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SOLARA
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Genus Power Infrastructures, Omaxe, and Marine Electricals (India), hit the upper circuit while Solara Active Pharma hit the lower circuit

Genus Power Infrastructures, Omaxe, and Marine Electricals (India), hit the upper circuit while Solara Active Pharma hit the lower circuit

Domestic equity bourses, NIFTY50 and SENSEX, were seen trading in the green on Wednesday. SENSEX crossed 80.000 levels for the first time, hitting a high of 80,074.3. Currently, NIFTY50 and SENSEX both are up by 0.65%. The Nifty Midcap 100 index and Nifty Smallcap 100 index gained by 0.54% and 0.68%, respectively.

In the morning session on Wednesday, on NSE, 131 stocks hit the upper price band (Upper circuit) and 23 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 Wednesday (July 03, 2024)

Genus Power Infrastructures Ltd

Shares of Genus Power Infrastructures got locked in 5% upper circuit at ₹357.60 on the Wednesday morning session. Recently the company reported that its subsidiary Genus Power Solutions Private Limited (GPSPL) entered into a Share Purchase Agreement on June 30, for the purchase of 30,000 equity shares representing 30% of the total share capital of Maharashtra Akola Amravati Smart Metering Private Limited. Upon completion of the aforesaid transfer of shares, Maharashtra Akola Amravati Smart Metering Private Limited would become a wholly owned subsidiary of GPSPL and a wholly owned step-down subsidiary of the company.

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 ₹10,860 crore. Over the past year, its shares have climbed 175%.

Marine Electricals (India) Ltd

Marine Electricals (India) shares were locked in a 5% upper circuit in the early morning session of Wednesday at ₹180.74. Marine Electricals (India) is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions.

For the Q4FY24 company has reported a 203.52% increase in PAT and a 65.65% increase in net sales. Recently, the company received an order amounting to ₹10.35 crore from L&T Shipbuilding, for the Supply of Data Distribution Unit. The company has a market capitalization of ₹2,400 crore. Over the past year shares of the company have increased by 272%.

Stocks hitting the lower circuit on Wednesday (July 03, 2024)

Solara Active Pharma Sciences Ltd

In the early morning session of Wednesday, Solara Active Pharma Sciences shares hit a 5% lower circuit at ₹556.35. The company is engaged in the business of manufacturing, production, processing, formulating, sale, import, export, merchandising, distributing, and trading APIs.

Over the past one month shares of the company have increased by over 50% from the June 5 low. Today the lower circuit can be attributed to profit booking among the investors. It has a market capitalization of ₹2,700 crore.

Uplearn

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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