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  5. Marine Electricals (India), Gensol Engineering and Schneider Electric Infrastructure hit upper circuit, while Heritage Foods hit the lower circuit today

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Marine Electricals (India), Gensol Engineering and Schneider Electric Infrastructure hit upper circuit, while Heritage Foods hit the lower circuit today

Upstox
By Upstox News Desk

4 min read | Updated on June 12, 2024, 12:18 IST

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SUMMARY

On Wednesday Nifty50 index is trading at record high levels at 23,421, up by 0.65%. Marine Electricals (India) hit 10% upper circuit while Gensol Engineering and Schneider Electric Infrastructure hit 5% upper circuit. Heritage Foods hit a 5% lower circuit.

Stock list

MARINE
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GENSOL
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SCHNEIDER
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HERITGFOOD
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Suzlon Energy, Dredging Corporation of India, MIC Electronics and Ramco Systems hit the upper circuit

Marine Electricals (India), Gensol Engineering and Schneider Electric Infrastructure 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 0.65%. The Nifty Midcap 100 and Nifty Smallcap 100 indices were trading with gains of over 0.94% and 1.01%, respectively.

In the morning session on Wednesday, on NSE, 132 stocks hit the upper price band (Upper circuit) and 18 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 Wednesday (June 12, 2024)

Marine Electricals (India) Ltd

Shares of Marine Electricals (India) locked in 10% upper circuit in the early morning session of Wednesday at ₹132.17. Marine Electricals (India) is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions.

In the past one month shares have increased by 43.66%. Investors are showing great interest in Marine Electricals stock driving its share price to the upper circuit limit. This technical pattern indicates a four-month-long breakout of the horizontal trendline.

For the Q4FY24 company has reported a 203.52% increase in PAT and a 65.65% increase in net sales. Recently, the company received an order amounting to ₹10.35 crore from L&T Shipbuilding, for the Supply of Data Distribution Unit. The company has a market capitalization of ₹1,700 crore. Over the past year shares of the company have increased by 159%.

Gensol Engineering Ltd

Shares of Gensol Engineering hit a 5% upper circuit in the early morning session of Wednesday at ₹1,016.85. On June 10 the company reported that it had appointed Kuljit S Popli as an Independent Director and Ali Imran Naqvi as an Executive Director.

Company Solar order book stands at ₹1,448 crores as of FY24 and won their first project in battery energy storage system under the build-own-operate model. The company has close to ₹3,000 crore of bid pipeline from the Indian market. Gensol Engineering is engaged in the business of Solar consulting & EPC. The company has a market capitalization of ₹3,800 crore. Over the past year shares of the company have increased by 207%.

Schneider Electric Infrastructure Ltd

Schneider Electric Infrastructure company surged 5% on Wednesday eventually hitting the upper circuit at ₹864.90. The company has soared over 105% in the preceding 6 months. Schneider Electric Infrastructure is a manufacturer of technologically advanced products and systems for the electricity network.

Recently, the company issued a clarification in response to an exchange enquiry regarding a spurt in the volume of the company's stock as a significant increase was observed. The company clarified that “Company has intimated all information bearing on operations and performance of the company and company at moment does not have any information required to be disclosed under SEBI Regulation 30 of Listing Regulations”. On June 10, Bhumika Sood, Company Secretary & Compliance Officer resigned from their position.

Stocks hitting lower circuit on Wednesday (June 12, 2024)

Heritage Foods Ltd

On the second consecutive day, shares of Heritage Foods got locked in a 5% lower circuit at ₹627.30. 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 from yesterday's trading session, the company has turned its path and started hitting lower circuits.

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. The lower circuit can be attributed to profit booking among the investors after the stock soared to new highs in the past one month. As of now more than 16 lakh sell orders are pending at NSE & BSE combined.

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.

About The Author

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

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