return to news
  1. Upstox
    /
  2. News
    /
  3. Market News
    /
  4. Stocks
    /
  5. Here's why Suzlon Energy, Gensol Engineering and Himadri Speciality Chemical hit the upper circuit on Thursday

Market News

Here's why Suzlon Energy, Gensol Engineering and Himadri Speciality Chemical hit the upper circuit on Thursday

Upstox
By Upstox News Desk

3 min read | Updated on June 20, 2024, 12:41 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

On Thursday, the Nifty50 index traded around the 23,550 mark and was seen trading positive 0.10%. Suzlon Energy, Gensol Engineering and Himadri Speciality Chemical touched the 5% upper circuit.

Stock list

SUZLON
--
GENSOL
--
HSCL
--
Here's why Suzlon Energy, Gensol Engineering and Himadri Speciality Chemical hit the upper circuit on Thursday

Here's why Suzlon Energy, Gensol Engineering and Himadri Speciality Chemical hit the upper circuit on Thursday

Today, the Nifty50 index and Sensex both are trading in the green, up by 0.10% and 0.02%, respectively. Nifty Midcap 100 and Nifty Smallcap 100 indices registered gains of 0.63% and 0.53%, respectively.

In the morning session on Thursday, on NSE, 96 stocks hit the upper price band (Upper circuit) and 14 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 (June 20, 2024)

Suzlon Energy Ltd

Shares of Suzlon Energy hit a 5% upper circuit in the early morning session on Thursday at ₹51.34. This could be attributed to the cabinet approving offshore wind energy projects with a total outlay of ₹7,453 crore. These will be 1GW offshore wind projects, 500 MW each off the coast of Gujarat and Tamil Nadu. For the project, the government will need wind turbines and Suzlon has approximately 32% cumulative market shares in India and it can be one of the biggest beneficiaries from the announcement.

As of Q3FY24, the company order book stands at 3,157 MW. Suzlon is one of the leading global renewable energy solutions providers. It is a vertically integrated WTG manufacturer and has a market capitalization of ₹69,000 crore. Over the past year shares of the company have gained by 254%.

Gensol Engineering Ltd

Gensol Engineering stock hit a 5% upper circuit in the early morning session of Thursday at ₹1,066.85. The stock hit an upper circuit after it received the second tranche under greenshoe option allotment of 250 MW/500 MWh from Gujarat Urja Vikas Nigam Limited (GUVNL) for standalone Battery Energy Storage Systems (BESS) project to reach 500 MW / 1000 MWh. The project including the first and second tranche will generate a total revenue of ₹2,685 crore over the 12-year Battery Energy Storage Purchase Agreement (BESPA) tenure.

Company Managing Director said that their BESS order book is over ₹3,100 crore.

Gensol Engineering is a leading player in the renewable energy sector specialising in solar power engineering, procurement, and construction (EPC) services, along with electric mobility solutions. The company has a market capitalization of ₹4,000 crore. Over the past year shares of the company soared by 219%.

Himadri Speciality Chemical Ltd

Himadri Specialty Chemical's stock surged today, reaching its upper circuit limit, indicating a potential breakout. The stock is buzzing on the bourses ahead of the management’s one-on-one interview with Analysts/Investors through calls/video conferences/in-person meetings on June 24 2024 and June 25 2024. In FY24, the company saw its profit almost doubling due to a consistent move towards value-added products. Himadri Speciality Chemical Ltd has recently been awarded with EcoVadis Silver Medal. This recognition ranks Himadri in the top 23% of the highest-rated companies in the world amongst more than 1,00,000+ rated companies.

Himadri Speciality Chemical is primarily engaged in the manufacturing of carbon materials and chemicals. It is the leading coal pitch manufacturer in India and is the only company to manufacture advanced carbon materials in India. It is also the largest player of Naphthalene and SNF in India.

Upstox

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

Next Story