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  5. Here's why, DCX Systems, 63 Moon Technologies, and Pix Transmissions hit the upper circuit, while Websol Energy System and Atul Auto hit the lower circuit today

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Here's why, DCX Systems, 63 Moon Technologies, and Pix Transmissions hit the upper circuit, while Websol Energy System and Atul Auto hit the lower circuit today

Upstox
By Upstox News Desk

4 min read | Updated on November 11, 2024, 13:45 IST

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SUMMARY

On Monday, the NIFTY50 index surged 0.62% to 24,300 level. However, stocks of DCX Systems, 63 Moon Technologies, and Pix Transmissions hit the upper circuit, while Websol Energy System and Atul Auto hit the lower circuit today. Know the reason behind stocks hitting the circuit limit.

Stock list

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Here's why, DCX Systems, 63 Moon Technologies, and Pix Transmissions hit the upper circuit, while Websol Energy System and Atul Auto hit the lower circuit today

The benchmark, NIFTY50 is traded in the positive terrain, up over 0.62% and SENSEX is up 0.7%. The Nifty Midcap 100 index is trading almost flat down 0.05% and the Nifty Smallcap 100 index is trading in the red, decreasing by 0.21%.

On the NSE, 87 stocks hit the upper circuit, and 73 stocks hit the 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 Monday (November 11, 2024)

DCX Systems Ltd

Shares of DCX Systems hit the upper circuit limit of 5% at ₹356.20. The shares of DCX Systems hit the upper circuit limit for the day after the company announced a significant international order worth ₹460.30 crore from Lockheed Martin USA for the supply of electrical assemblies.

This contract is expected to help DCX System establish its name in meeting the demands of top global defence contractors. DCX Systems had previously executed an order from Lockheed Martin worth ₹16.53 crore during FY24, which the company had said helped pave the way for future collaboration.

The company also has an MOU signed with Israeli Aerospace India Service Private Limited for supply and repair services, enhancing MRO capabilities. Its order book stands at ₹1,937 crore, with a pipeline of orders that it says is expected to grow further.

DCX Systems has a market capitalisation of ₹3,950 crore. Over the past one year, the stock has rallied by 22%.

63 Moon Technologies Ltd

63 Moon Technologies stock is locked in a 5% upper circuit at ₹588.2. The company informed the exchange about the Indicative Proposal for a One-Time Full and Final Amicable Settlement (OTS) amounting to ₹1,950 crore through a judicial forum for closure of all litigation against 63 Moons Group from NSEL Investors Forum. It is an association representing a large number of traders who trade on the Exchange platform of National Spot Exchange Ltd.

In 2022, the Supreme Court upheld the Maharashtra government’s decision to attach the properties of 63 Moons Technologies in connection with a ₹5,600-crore scam that defrauded approximately 13,000 investors in 2013. Formerly known as Financial Technologies India Ltd., 63 Moons was the parent company of the now-defunct National Spot Exchange Ltd. (NSEL), which ceased trading in 2013 following the multi-crore scandal. The Maharashtra government moved to attach 63 Moons' assets, as the company held a 99.99% stake in NSEL, to facilitate recovery of the investors' lost funds.

Earlier in September this year the Supreme Court had issued a notice to the company on a contempt-of-court plea raised by the NSEL Investors Action Group.

Pix Transmissions Ltd

Shares of Pix Transmissions were locked in the 20% upper circuit at ₹2,019.60 after the company posted solid Q2FY25 earnings. In Q2 Pix Transmission's net profit rose 95.89% to ₹40.53 crore as against ₹20.69 crore during the previous quarter ended Q2FY24. Sales rose 27.89% to ₹159.06 crore versus the corresponding quarter of the previous year of ₹124.37 crore. At an operating level, the company reported an operating margin of 32%.

PIX Transmissions is the leading manufacturer of belts and related mechanical Power Transmission products in India. Over the past one year, the stock has rallied by 54%.

Stocks hitting the lower circuit on Friday (November 11, 2024)

Websol Energy System Ltd

Websol Energy stock hit the 5% lower circuit at ₹1,428.5 in the early trade of Monday. In the last one week, the share price of Websol has fallen over 15% after peaking at a 52-week high of ₹1,645 on Tuesday, November 5, 2024.

In Q2FY25’s earnings, Websol Energy System on Tuesday reported a profit after tax of ₹41.98 crore for the September quarter on account of higher income.

It had posted a loss of ₹3.95 crore in the July-September period of the preceding 2023-24 fiscal, the company said in an exchange filing. The company's total income rose manifold to ₹143.84 crore from ₹0.30 crore a year ago.

Atul Auto Ltd

Atul Auto witnessed a 5% drop in share price, eventually hitting a lower circuit at ₹567.70 in the early trade of Friday. Selling pressure in stock increased as Q2FY25 earnings disappointed investors.

In Q2 earnings Atul Auto’s net profit declined 28.91% YoY to ₹5.41 crore as against ₹7.61 crore during the corresponding quarter previous year. Sales rose 19.11% to ₹179.98 crore as against ₹151.11 crore during the corresponding quarter previous year.

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