Goldiam International, Servotech Power Systems, Reliance Power, Genus Power Infrastructures and Exicom Tele-Systems hit the upper circuit today

Domestic equity bourses, NIFTY50 and SENSEX, are trading in the green, advancing by 0.54% and 0.50%, respectively. The Nifty Midcap 100 index and Nifty Smallcap 100 index were trading positively, up by 1.37% and 1.43%, respectively.

On the NSE, 113 stocks hit the upper price band (Upper Circuit), and 37 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 (October 09, 2024)

Goldiam International Ltd

The company has a market capitalisation of ₹4,000 crore and over the past one year, the shares have surged by 200%.

Servotech Power Systems Ltd

On October 7, the company received an additional order to build EV Charging Stations for Nashik Municipal Corporation (NMC). Previously the company had received an order from NMC which involved Servotech supplying, commissioning, and constructing 20 electric vehicle (EV) charging stations. NMC has given this additional order to the company which will now involve Servotech a total of 29 electric vehicle (EV) charging stations.

Additionally, a Board Meeting is to be held on October 28, 2024, to consider and approve the financial results of the company for the second quarter. Currently, the company has a market capitalisation of ₹4,200 crore.

Reliance Power Ltd

In a recent board meeting, the company approved the issuance of up to $500 million (₹4,200 crore) in Foreign Currency Convertible Bonds (FCCBs) on a private placement basis to affiliates of Varde Investment Partners. These FCCBs will have a low interest rate of 5% per annum, are unsecured, and carry a 10-year tenure. They are convertible into approximately 82.30 crore equity shares at a conversion price of ₹51.

This marks the company's second fundraising initiative, following the approval to raise ₹1,525 crore through a preferential allotment on September 23. These funds will support business expansion, investments in subsidiaries and joint ventures, debt reduction, and general corporate purposes.

Genus Power Infrastructures Ltd

According to the August 28, 2024 notification 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. The company has manufacturing plants across Jaipur, Haridwar and Guwahati with a total installed capacity of over 10 million meters. Genus Power has a market capitalisation of ₹12,100 crore.

Exicom Tele-Systems Ltd

On October 7, the company reported that Preeti Dhall Pal, Vice President, Human Resources (Senior Management Personnel) had resigned from the company and had appointed Pooja Duggal for the same post. The company has a market capitalisation of ₹3,900 crore.