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  1. Here's why Servotech Power Systems, Manorama Industries and Marine Electricals (India) hit the upper circuit on Wednesday

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Here's why Servotech Power Systems, Manorama Industries and Marine Electricals (India) hit the upper circuit on Wednesday

Upstox

3 min read | Updated on July 31, 2024, 16:05 IST

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SUMMARY

On Wednesday, the NIFTY50 index traded in the green near the 24,950 level. Servotech Power Systems, Manorama Industries and Marine Electricals (India) hit the 5% upper circuit.

Here's why Servotech Power Systems, Manorama Industries and Marine Electricals (India) hit the upper circuit on Wednesday

Here's why Servotech Power Systems, Manorama Industries and Marine Electricals (India) hit the upper circuit on Wednesday

Domestic equity bourses, NIFTY50 and SENSEX, were trading in the green on Wednesday, advancing by 0.36% and 0.33%, respectively. Nifty Midcap 100 index and Nifty Smallcap 100 index were in the green, increasing by 0.76% and 0.02%, respectively.

In the morning session on Wednesday, on the NSE, 100 stocks hit the upper price band (Upper circuit), and 35 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 Wednesday (July 31, 2024)

Servotech Power Systems Ltd

On Wednesday the shares of Servotech Power Systems hit the 5% upper circuit at ₹125.44. The company declared financial results for Q1FY25 yesterday after the market closer. On a consolidated basis, for Q1FY25, the company reported 40.88% growth in total income from ₹79.81 crore in Q1FY24 to ₹112.44 crore. PAT has increased by 9.25% from ₹4.11 crore in Q1FY24 to ₹4.49 crore.

Servotech Power Systems develops tech-enabled EV Charging solutions leveraging their over two decades of experience and expertise in the electronics space. Currently, the company has a market capitalisation of ₹2,750 crore. Over the past year, shares of the company have increased by 32.50%.

Consolidated (₹ in crores)Growth
ParticularsQ1FY25Q4FY24Q1FY24YoYQoQ
Total Income112.44136.6579.8140.88%-17.72%
PAT4.493.454.119.25%30.14%

Manorama Industries Ltd

Manorama Industries stock hit a 5% upper circuit at ₹747.80 in the early morning session on Wednesday. Yesterday it declared financial results for Q1FY25. On a standalone basis, for Q1FY25, the company reported 19.82% growth in total income from ₹114.96 crore in Q1FY24 to ₹1337.50 crore. PAT has increased by 17.23% from ₹11.55 crore in Q1FY24 to ₹13.54 crore.

Manorama Industries is a global pioneer in manufacturing speciality fats & butters and exotic products. The company has carved a niche in manufacturing Sal CBE & Stearin, Shea CBE & Stearin, Mango CBE & Stearin and other exotic fats & butter. Currently, the company has a market capitalisation of ₹4,300 crore. Over the past year, shares of the company have increased by 115%.

Standalone (₹ in crores)Growth
ParticularsQ1FY25Q4FY24Q1FY24YoYQoQ
Total Income137.5133.11114.7619.82%3.30%
PAT13.5412.511.5517.23%8.32%

Marine Electricals (India) Ltd

Marine Electricals (India) shares were locked in a 5% upper circuit in the early morning session of Wednesday at ₹261.11. 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. The company has a market capitalisation of ₹3,500 crore. In the last one year, it has given returns over 300%.

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