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  5. Genus Power Infrastructures, Jyoti Structures, Marine Electricals (India) and Eimco Elecon (India) hit the upper circuit today

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Genus Power Infrastructures, Jyoti Structures, Marine Electricals (India) and Eimco Elecon (India) hit the upper circuit today

Upstox
By Upstox News Desk

4 min read | Updated on August 29, 2024, 13:49 IST

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SUMMARY

On Thursday, the NIFTY50 index traded in positive terrain around 25,100 levels. Genus Power Infrastructures, Jyoti Structures, Marine Electricals (India) and Eimco Elecon (India) hit the 5% upper circuit today.

Stock list

GENUSPOWER
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JYOTISTRUC
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MARINE
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EIMCOELECO
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Genus Power Infrastructures, Jyoti Structures, Marine Electricals (India) and Eimco Elecon (India) hit the upper circuit today

Genus Power Infrastructures, Jyoti Structures, Marine Electricals (India) and Eimco Elecon (India) hit the upper circuit today

Domestic equity bourses, NIFTY50 and SENSEX, were trading in the green, advancing by 0.21% and 0.28%, respectively. Nifty Midcap 100 index and Nifty Smallcap 100 index are in red, declining by 0.39% and 0.36%, respectively.

On the NSE, 70 stocks hit the upper price band (Upper Circuit), and 50 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 Thursday (August 29, 2024)

Genus Power Infrastructures Ltd

Genus Power Infrastructures stock was locked in the 5% upper circuit at ₹466.25 in the early morning session on Thursday. The company reported it received a new work order. Its wholly-owned subsidiary has received three Letter of Awards (LOA) worth totalling ₹4,469.04 crore (net of taxes) for the appointment of Advanced Metering Infrastructure Service Providers (AMISPs) including design of Advance Metering Infrastructure (AMI) system with supply, installation and commissioning with FMS of about 5.59 million Smart Prepaid Meters, system meters including DT Meters with corresponding energy accounting on DBFOOT basis.

With these recent orders, the total order book of the company including all SPVs and the GIC Platform, exceeds ₹32,500 crore (net of taxes). These concessions are for 8 to 10 years. This includes orders worth ₹2,925.52 crore & ₹3,608.52 crore won in the third week of August and an additional ₹4,469.04 crore secured now.

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 capitalisation of ₹14,150 crore. Over the past year, its shares have climbed by 80%.

Jyoti Structures Ltd

The shares of Jyoti Structures hit a 5% upper circuit at ₹30.94 in the early morning session of Thursday. Yesterday, the company reported that it has received a contract to supply towers for a 765 kV transmission line project from a leading private developer in Gujarat. The contract is valued at ₹105.57 crore, including GST, and is expected to be completed in 10 months.

The company is engaged in Electricity, transmission, distribution and substation. Jyoti Structures has a market capitalisation of ₹2,500 crore. Over the past year, its shares have climbed by 200%.

Marine Electricals (India) Ltd

Marine Electricals (India) stock was locked in a 5% upper circuit in the early morning session of Thursday at ₹267.35. Marine Electricals (India) is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions. In the 2024 investor presentation, the company reported that it has an order book of ₹497 crore.

Marine Electricals (India) reported that it will participate in the upcoming SMM 2024 exhibition, one of the largest maritime exhibitions in the world. The exhibition is scheduled to take place from September 3 to September 6, 2024, at the Hamburg Messe and Congress, Hamburg, Germany. The company has a market capitalisation of ₹3,500 crore.

Eimco Elecon (India) Ltd

The stock of Eimco Elecon (India) has consistently hit the 5% upper circuit at ₹3,091.50 for the past few days, with the scrip locking in the upper circuit. This rally is driven by renewed investor confidence after a rebound from the ₹2,620.80 price level. Moreover, the company’s recent ₹28 crore order is expected to further boost the share price.

Eimco Elecon (India) manufactures and markets equipment for underground and opencast mines. It was the first company to introduce the intermediate technology of Side Dump Loaders, Load Haul Dumpers, and Rocker Shovel Loaders in India. The company has a market capitalisation of ₹1,700 crore. Over the past year, the shares have climbed by 265%.

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