Transformers & Rectifiers India and Shakti Pumps (India) hit upper circuit, while Heritage Foods hit the lower circuit today

Today, the Nifty50 index and Sensex both are trading in green. Currently, the Nifty50 index and Sensex both have advanced over 0.21%. The Nifty Midcap 100 and Nifty Smallcap 100 indices were seen trading with gains of over 0.70% and 0.63%, respectively on Tuesday.

In the morning session on Tuesday, on NSE, 120 stocks hit the upper price band (Upper circuit) and 29 stocks hit the lower price band (Lower Circuit).

Here is the list of stocks (market cap above ₹1,000 crore) locked in upper and lower circuits in today’s trading session.

Stocks hitting the upper circuit on Tuesday (June 11, 2024)

Shares of Transformers & Rectifiers India hit 5% upper circuit at ₹769.15. Yesterday the company opened their QIP (Qualified Institutions Placement) for up to ₹500 crore. The issue is priced at a floor price of ₹699.95 per equity share, with a discount of 9% based on the CMP of ₹769.15. The company got approval for QIP on April 8 2024 from their board of directors. Transformers and Rectifiers (India) is a manufacturer of Power, Furnace and Rectifier Transformers. It has a market capitalization of ₹11,000 crore. Over the past year shares of the company have given a return of 891%.

Shakti Pumps (India) Ltd

On Tuesday shares of Shakti Pumps (India) hit 5% at ₹2629.55. The company has been trending higher since it reported strong financials for Q4FY24 and the financial year end of 2024. It reported a net profit of ₹89.7 crore for Q4FY24 compared to ₹2.2 crore in Q4FY23 while in Q3FY24 it had a profit of ₹45.2 crore.

Recently it got its 14th Patent for Innovative Motor Technology. Shakti Pumps (India) is primarily engaged in manufacturing pumps and motors of various kinds. It has a market capitalisation of ₹5,200 crore. In the last one year, the stock has risen over 340%.

Stocks hitting lower circuit on Tuesday (June 11, 2024)

The shares of Heritage Foods were hitting back-to-back 10% upper circuit from the past few trading days. The stock has surged nearly 80% from the lows of June 04, 2024. But today in the early morning session the company has turned its path and got locked in a 5% lower circuit at ₹659.45.

Stock of Heritage Foods has rallied after it became clear that Telugu Desam Party (TDP) leader Chandrababu Naidu will become Chief Minister of Andhra Pradesh after the recently concluded assembly elections. Today the lower circuit can be attributed to profit booking among the investors after the stock soared to new highs in the past one month.

Heritage Foods is engaged in the business of procurement and processing of Milk & Milk products. It is also involved in the generation of power through solar and wind for the captive consumption of its dairy plants.