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  5. Here's why E2E Networks, PC Jeweller and Pondy Oxides & Chemicals hit the upper circuit today

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Here's why E2E Networks, PC Jeweller and Pondy Oxides & Chemicals hit the upper circuit today

Upstox
By Upstox News Desk

5 min read | Updated on October 29, 2024, 11:43 IST

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SUMMARY

On Tuesday, the NIFTY50 index traded in red below the 24,200 level. E2E Networks, PC Jeweller and Pondy Oxides & Chemicals hit the 5% upper circuit today.

Stock list

E2E
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PCJEWELLER
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POCL
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Trading5 (1).webp

These three stocks hit the upper circuit on Dhanteras - E2E Networks, PC Jeweller and Pondy Oxides & Chemicals

Domestic equity bourses, NIFTY50 and SENSEX, are trading in the red, declining by 0.64% and 0.61%, respectively. The Nifty Midcap 100 index and Nifty Smallcap 100 index are trading in the red, down by 0.83% and 1.00%, respectively.

On the NSE, 76 stocks hit the upper price band (Upper Circuit), and 51 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 Tuesday (October 29, 2024)

E2E Networks Ltd

E2E Networks stock was locked in the 5% upper circuit at ₹3,900.10 in the early morning session of Tuesday. Recently, the company declared strong financial results for Q2FY25. It reported a 119.55% increase in total income from ₹22.05 crore in Q2FY24 to ₹48.41 crore. PAT has increased by 109.84% from ₹5.79 crore in Q2FY24 to ₹12.15 crore.

Ace Investor Ashish Kacholia's name appeared in the shareholding of the company. He holds a 1.05% stake in the company which was revealed in the second quarter filing of FY25.

On October 25 the company reported that it is the first company to bring NVIDIA H200 Tensor Core GPUs to the Indian market. The NVIDIA H200 GPU cluster, interconnected with NVIDIA Quantum-2 InfiniBand networking, is engineered to advance generative AI. It offers 4.8 TB/s of memory bandwidth and 141 GB of GPU memory capacity, and delivers up to 1.9X higher inference performance compared with NVIDIA H100 Tensor Core GPUs.

Few months back the company successfully closed a strategic investment round, securing ₹420.51 crores through a preferential issue of equity shares. E2E Cloud is a MeitY-empanelled AI-focused cloud provider. The company offers advanced cloud GPUs such as HGX H100, A100, and L4OS, along with high-end InfiniBand-powered configurations like 64xH100 and 256xH100. E2E Cloud also features an advanced AI development platform, TIR, enabling developers to train and deploy foundational AI models, serving nearly 3000 customers. E2E Networks has a market capitalisation of ₹6,500 crore.

(₹ in crores)Growth
ParticularsQ2FY25Q1FY25Q2FY24YoYQoQ
Total Income48.4141.6722.05119.55%16.17%
PAT12.1510.145.79109.84%19.82%

PC Jeweller Ltd

Popular jewellery brand PC Jeweller locked in the 5% upper circuit limit in the morning session of Tuesday at ₹156.89. The company recently declared strong financial results for Q2FY25. On a consolidated basis, the company reported a 10.99% increase in total income from ₹494.24 crore in Q2FY24 to ₹548.54 crore. PAT has increased from a net loss of ₹138.13 crore in Q2FY24 to a net profit of ₹178.88 crore.

The company’s preferential issue of 48,13,42,500 Fully Convertible Warrants has been completed. The proposed allottees, including the promoter group, subscribed 99.89%, amounting to an issue size of ₹2,702.11 crore. Out of which ₹2,025 crore will be used for repayment of bankers' outstanding debts. Earlier the company received approval from all fourteen consortium member banks to approve the Offer for Settlement (OTS) proposal.

Additionally, the company announced a 1:10 stock split, approved by its board of directors on September 30, 2024, to enhance liquidity and make the shares more affordable for retail investors. According to the company's official filing, this move will subdivide each fully paid-up equity share of ₹ ten face value into 10 shares of ₹1 each. As a result, the total number of shares will increase from approximately 46.5 crore to 465.4 crore.

PC Jeweller manufactures, sells, and trades gold, diamond-studded, and silver jewellery and operates in different geographical areas. It has a market capitalisation of ₹7,300 crore and has increased its shares by 419% over the past year.

(₹ in crores)Growth
ParticularsQ2FY25Q1FY25Q2FY24YoYQoQ
Total Income548.54439.78494.2410.99%24.73%
PAT178.88156.06-138.13-14.62%

Pondy Oxides & Chemicals Ltd

Shares of Pondy Oxides & Chemicals (POCL) were locked in the 5% upper circuit limit in the morning session of Tuesday at ₹888.75. The company declared upbeat financial results for the Q2FY25 and H1FY25. Consolidated revenue from operations has increased to ₹1,024 core up 42% (YoY) on a half-yearly basis and to ₹579 crore up 46% (YoY) & 30% (QoQ) on a quarterly basis. Consolidated PAT more than doubled and increased to ₹28 crore up 188% (YoY) on a half-yearly basis and to ₹15 crore up 168% (YoY) on a quarterly basis. PAT Margins increased to 3%.

POCL has invested ₹50 crore in Capex during H1FY25. The board of the company also approved the raising of funds for an aggregate amount not exceeding ₹250 crore through Qualified Institutional Placement (QIP) in one or more tranches. Few days back the company had a record date for Share Split. Face Value Split (Sub-Division) From ₹10 per share to ₹5 per share.

Incorporated in 1995, Pondy Oxides and Chemicals manufactures Lead Metal and Alloys and other Non-ferrous metals. The company has a market capitalisation of ₹2,300 crore and has increased its shares by 291% over the past year.

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