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Mufin Green Finance, Kitex Garments, Lloyds Enterprises, DCX Systems, E2E Networks and Pondy Oxides & Chemicals hit upper circuit

Upstox
By Upstox News Desk

6 min read | Updated on October 31, 2024, 13:13 IST

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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

MUFIN
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KITEX
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LLOYDSENT
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DCXINDIA
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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

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.

Stocks hitting the upper circuit on Thursday (October 31, 2024)

Mufin Green Finance Ltd

Shares of Mufin Green Finance hit the 20% upper circuit at ₹141.40 in the early morning session of Thursday. Over the past week, the stock has risen by 41%. The shares of Mufin Green Finance have seen a surge in price along with price, which indicates market participants are expecting some key developments related to stock.

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 Ltd

Kitex Garments stock got locked in the 5% upper circuit at ₹584.10 in the early morning session of Thursday. Yesterday, the company declared strong financial results for Q2FY25. It reported a 47.79% increase in total income from ₹148.17 crore in Q2FY24 to ₹218.98 crore. PAT has increased by 370.29% from ₹7.81 crore in Q2FY24 to ₹36.73 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
ParticularsQ2FY25Q1FY25Q2FY24YoYQoQ
Total Income218.98193.15148.1747.79%13.37%
PAT36.7326.687.81370.29%37.67%

Lloyds Enterprises Ltd

Shares of Lloyds Enterprises locked in the 5% upper circuit at ₹48.22 in the early morning session of Thursday. Recently, the company declared strong financial results for Q2FY25. It reported a 148.79% increase in total income from ₹164.45 crore in Q2FY24 to ₹409.14 crore. PAT has increased by 3.19% from ₹39.22 crore in Q2FY24 to ₹40.47 crore.

The company's core business is trading in iron and steel products. It has a market capitalisation of ₹6,150 crore.

(₹ in crores)Growth
ParticularsQ2FY25Q1FY25Q2FY24YoYQoQ
Total Income409.14326.74164.45148.79%25.22%
PAT40.4716.9439.223.19%138.90%

DCX Systems Ltd

DCX Systems stock got locked in the 5% upper circuit at ₹354.35 in the early morning session of Thursday. A few days ago, the company reported two purchase orders. Company-owned subsidiary Raneal Advanced Systems Private Limited has received export orders from Lockheed Martin Global Inc, USA, for $45,199,440.00, equivalent to about ₹379.67 crores for the supply of Electronic Assemblies. Another was from overseas customers for ₹10.31 crore for the supply of cable and wire harnesses. Both the orders are to be fulfilled within 12 months.

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.

E2E Networks Ltd

E2E Networks stock was locked in the 5% upper circuit at ₹4,299.85 in the early morning session of Thursday. Recently, the company declared strong financial results for Q2FY25. It reported a 119.55% increase in total income from ₹22.05 crore in Q2FY24 to ₹48.41 crore. PAT has increased by 109.84% from ₹5.79 crore in Q2FY24 to ₹12.15 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
ParticularsQ2FY25Q1FY25Q2FY24YoYQoQ
Total Income48.4141.6722.05119.55%16.17%
PAT12.1510.145.79109.84%19.82%

Pondy Oxides & Chemicals Ltd

Shares of Pondy Oxides & Chemicals (POCL) were locked in the 5% upper circuit limit in the morning session of Thursday at ₹979.80. The company declared upbeat financial results for the Q2FY25 and H1FY25. Consolidated revenue from operations has increased to ₹1,024 core, up 42% (YoY) on a half-yearly basis and to ₹579 crore up 46% (YoY) & 30% (QoQ) on a quarterly basis. Consolidated PAT more than doubled and increased to ₹28 crore up 188% (YoY) on a half-yearly basis and to ₹15 crore up 168% (YoY) on a quarterly basis. PAT Margins increased to 3%.

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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