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  1. Kirloskar Electric Company, Suzlon Energy, Marine Electricals (India), Zen Technologies and Cupid hit the upper circuit

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Kirloskar Electric Company, Suzlon Energy, Marine Electricals (India), Zen Technologies and Cupid hit the upper circuit

Upstox

5 min read | Updated on August 08, 2024, 15:13 IST

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SUMMARY

On Thursday, the NIFTY50 index traded in negative terrain near 24,200 levels. Kirloskar Electric Company hit the 10% upper circuit while Suzlon Energy, Marine Electricals (India), Zen Technologies and Cupid hit the 5% upper circuit.

Kirloskar Electric Company, Suzlon Energy, Marine Electricals (India), Zen Technologies and Cupid hit the upper circuit

Kirloskar Electric Company, Suzlon Energy, Marine Electricals (India), Zen Technologies and Cupid hit the upper circuit

Domestic equity bourses, NIFTY50 and SENSEX, were trading in the red, declining by 0.43% and 0.42%, respectively. Nifty Midcap 100 index and Nifty Smallcap 100 index advanced by 0.36% and 0.40%, respectively.

On the NSE, 68 stocks hit the upper price band (Upper Circuit), and 41 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 (August 08, 2024)

Kirloskar Electric Company Ltd

Kirloskar Electric Company hit the 5% upper circuit in the early morning session of Thursday at ₹220.95. Kirloskar Electric Company is an electrical engineering company that produces AC Motors, DC Motors, Transformers, Switchgear, and Electronics. It caters to core sectors like power generation, transmission and distribution, transportation, renewable energy, sugar, steel, cement, and allied industries.

On August 6, 2024, the company declared its financials for Q1FY25. On a consolidated basis, for Q1FY25, the company reported 13.18% growth in total income from ₹118.799 crore in Q1FY24 to ₹134.45 crore. PAT has increased by 5.46% from ₹1.83 crore in Q1FY24 to ₹1.93 crore. The company has a market capitalisation of ₹1,400 crore. In the last year, shares of the company have surged 86%.

(₹ in crores)Growth
ParticularsQ1FY25Q4FY24Q1FY24YoYQoQ
Total Income134.45170.98118.7913.18%-21.37%
PAT1.935.421.835.46%-64.39%

Suzlon Energy Ltd

Today, shares of Suzlon Energy hit the 5% upper circuit at ₹73.04 and hit a new 52-week high. Recently, the company reported strong financials for Q1FY25. On a consolidated basis, the company reported 50.13% growth in total income from ₹1,361.68 crore to ₹2,044.35 crore, and net profit increased by 199.59% from ₹100.9 crore to ₹302.29 crore.

The company's wind order book stands at 3.8 GW. Suzlon is one of the leading global renewable energy solutions providers. It is a vertically integrated WTG manufacturer. It also undertakes installation and O&M of all WTG sales. The company has a market capitalisation of ₹98,850 crore. In the last one year, shares of the company have surged 290%.

Marine Electricals (India) Ltd

Marine Electricals (India) shares were locked in a 5% upper circuit in the early morning session of Thursday at ₹281.45. 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 reported that the board of directors will meet on Monday, August 12, 2024, to consider and approve the financial results for the quarter ended June 30, 2024.

Recently, Marine Electricals (India) reported that it will be participating in the upcoming SMM 2024 exhibition, one of the largest maritime exhibitions in the world, scheduled to take place from September 3 to September 6, 2024, at the Hamburg Messe and Congress, Hamburg, Germany. The company has a market capitalisation of ₹3,700 crore. In the last year, it has given returns of over 300%.

Zen Technologies Ltd

On Thursday, shares of Zen Technologies hit the 5% upper circuit at ₹1,726.40. The company designs, develops, and manufactures combat training solutions and counter-drone solutions for defence and security forces. It is actively involved in the indigenization of technologies that benefit Indian armed forces, state police forces, and paramilitary forces.

Strong financial results were recently declared for Q1FY25. On a consolidated basis, for Q1FY25, the company reported 90.72% growth in total income from ₹135.13 crore in Q1FY24 to ₹257.72 crore. PAT has increased by 64.13% from ₹48.43 crore in Q1FY24 to ₹79.49 crore. As of June 30, 2024, the company's total order book stands at ₹1,158.54 crore. The company has a market capitalisation of ₹14,500 crore. Over the past year, its shares have climbed 132%.

Cupid Ltd

Cupid stock has been locking in a back-to-back upper circuit for the past few sessions. Today it again got locked in a 5% upper circuit at ₹100.78 in the early morning session on Thursday. The surge in stock prices could be attributed to the company's financial earnings. The company declared strong financial results for Q1FY25. In the quarter, the company reported a 25.09% increase in total income from ₹35.2 crore in Q1FY24 to ₹44.03 crore. PAT increased by 282.41% from ₹2.16 crore in Q1FY24 to ₹8.26 crore.

Additionally, the company is incorporating a wholly-owned subsidiary in the United Arab Emirates for expansion. The company reported that it plans to expand its e-commerce presence in India's premier online marketplaces, including Amazon, Flipkart, and 1mg.

Cupid operates in the contraceptive and personal wellness industry. It is India's premier manufacturer of male and female condoms, personal lubricants, and IVD kits. The company has recently launched its line of CUPID Deodorants and Pocket Perfumes. It has a market capitalisation of ₹2,700 crore. Over the past year, its shares have climbed 604%.

(₹ in crores)Growth
ParticularsQ1FY25Q4FY24Q1FY24YoYQoQ
Total Income44.0365.8835.225.09%-33.17%
PAT8.2623.722.16282.41%-65.18%
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