Market News
6 min read | Updated on October 31, 2024, 13:13 IST
SUMMARY
On Thursday, the NIFTY50 index traded in the red, below the 24,300 level. Mufin Green Finance hit the 20% upper circuit, while Kitex Garments, Lloyds Enterprises, DCX Systems, E2E Networks and Pondy Oxides & Chemicals hit the 5% upper circuit today.
Stock list
These six stocks skyrocket like a Diwali firecracker and hit the upper circuit - Mufin Green Finance, Kitex Garments, Lloyds Enterprises, DCX Systems, E2E Networks and Pondy Oxides & Chemicals
Domestic equity bourses, NIFTY50 and SENSEX, are trading in the red, declining by 0.30% and 0.39%, respectively. The Nifty Midcap 100 index is trading in red, down by 0.33%, and the Nifty Smallcap 100 index is trading in the green, up by 0.27%.
On the NSE, 129 stocks hit the upper price band (Upper Circuit), and 17 stocks hit the lower price band (Lower Circuit).
Here is the list of stocks (market cap above ₹1,000 crore) locked in the upper circuit in today’s trading session.
Mufin Green Finance is a pioneer in climate financing solutions in India. The company is contributing to the country's EV ecosystem by providing loans for income generation through Electric Vehicles, Electric Charging Infrastructure, and Swappable Batteries. To date, it has disbursed more than ₹350 crore towards electric vehicles. The company has a market capitalisation of ₹2,180 crore.
Kitex Garments was incorporated in 1992. The company exports cotton and organic cotton garments especially infant wear to US and European markets. The company has a market capitalisation of ₹3,870 crore.
Over the past six months, shares of the company have seen a surge of 185% in its share price, which comes after the company's strong business outlook for the future. On August 19, 2024, Sabu M Jacob, chairman and managing director of Kitex Garments, stated that the company’s capacity utilisation is currently at its peak, and the factory order position is fully booked up to June 2025. With the surge in demand and favourable global market conditions, the company expects to achieve its all-time high record over the last three decades in terms of turnover and profits.
(₹ in crores) | Growth | ||||
---|---|---|---|---|---|
Particulars | Q2FY25 | Q1FY25 | Q2FY24 | YoY | QoQ |
Total Income | 218.98 | 193.15 | 148.17 | 47.79% | 13.37% |
PAT | 36.73 | 26.68 | 7.81 | 370.29% | 37.67% |
The company's core business is trading in iron and steel products. It has a market capitalisation of ₹6,150 crore.
(₹ in crores) | Growth | ||||
---|---|---|---|---|---|
Particulars | Q2FY25 | Q1FY25 | Q2FY24 | YoY | QoQ |
Total Income | 409.14 | 326.74 | 164.45 | 148.79% | 25.22% |
PAT | 40.47 | 16.94 | 39.22 | 3.19% | 138.90% |
Incorporated in 2011, Dcx Systems is in the business of System Integration and Cable & Wire Harnessing. The company has a market capitalisation of ₹4,000 crore.
Ace Investor Ashish Kacholia's name appeared in the company's shareholding. He holds a 1.05% stake in the company, which was revealed in the second quarter filing of FY25.
On October 25, the company reported that it was the first company to bring NVIDIA H200 Tensor Core GPUs to the Indian market.
A few months back, the company successfully closed a strategic investment round, securing ₹420.51 crore through a preferential issue of equity shares. E2E Cloud is a MeitY-empanelled AI-focused cloud provider. E2E Networks has a market capitalisation of ₹7,250 crore.
(₹ in crores) | Growth | ||||
---|---|---|---|---|---|
Particulars | Q2FY25 | Q1FY25 | Q2FY24 | YoY | QoQ |
Total Income | 48.41 | 41.67 | 22.05 | 119.55% | 16.17% |
PAT | 12.15 | 10.14 | 5.79 | 109.84% | 19.82% |
POCL has invested ₹50 crore in Capex during H1FY25. The board of the company also approved the raising of funds for an aggregate amount not exceeding ₹250 crore through Qualified Institutional Placement (QIP) in one or more tranches. A few days back the company had a record date for share split. Face Value Split (Sub-Division) from ₹10 per share to ₹5 per share.
Incorporated in 1995, Pondy Oxides and Chemicals manufactures lead metal and alloys and other non-ferrous metals. The company has a market capitalisation of ₹2,500 crore and has increased its shares by 356% over the past year.
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