return to news
  1. Upstox
    /
  2. News
    /
  3. Market News
    /
  4. Stocks
    /
  5. Schneider Electric, Genus Power, Heritage Foods, Jaiprakash Associates and RattanIndia Power are top Price Band Hitters

Market News

Schneider Electric, Genus Power, Heritage Foods, Jaiprakash Associates and RattanIndia Power are top Price Band Hitters

Upstox
By Upstox News Desk

4 min read | Updated on June 07, 2024, 16:29 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

On Friday frontline indices are back to Monday's opening level as bulls take after clarity on the political environment. The overall market remains positive as Nifty50 trades above 23,000 levels.

Stock list

SCHNEIDER
--
GENUSPOWER
--
HERITGFOOD
--
JPASSOCIAT
--
RTNPOWER
--
Suzlon Energy, Dredging Corporation of India, MIC Electronics and Ramco Systems hit the upper circuit

Schneider Electric, Genus Power, Heritage Foods, Jaiprakash Associates and RattanIndia Power are top Price Band Hitters

In the latest economic development, the April CPI fell to an 11-month low at 4.83%. And with the return of the NDA government for a third term, power stocks like Genus Power are in action.

At 12.30 on Friday afternoon Nifty50 was trading at 23210 levels up over 1.68%, while India VIX was at 16.83 level.

Here list of 5 Price band hitters in morning trade on NSE on June 7, 2024

1. Schneider Electric Infrastructure Ltd - The stock price of the company surged 5% on Friday eventually locking in the upper circuit at ₹ 745.05. Schneider Electric Infrastructure Ltd is a manufacturer of technologically advanced products and systems for the electricity network. On June 3, 2024, the company issued a clarification in response to an exchange enquiry regarding a spurt in volume of the company's stock as a significant increase in volume was observed. The company has 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”.

SEBI ( Listing Obligations & Disclosure Requirements ) requires listed companies to disclose all the latest information to ensure that investors have the latest relevant information about the company and to inform the marketplace so that investors are safeguarded. The scrip has soared over 118% in the preceding 6 months.

2. Genus Power Infrastructure Ltd - Incorporated in 1992 and a part of Kailash Group scrip hit an upper circuit of ₹ 305.70 in early trade this Friday morning. Genus Power is primarily engaged in manufacturing/providing metering and metering solutions and undertaking engineering, construction and contracts on a turnkey basis. The company operates through two segments: Metering business and Strategic investment activity. etc

It reported strong financials for Q4FY24 with a Total Income amounting ₹436.77 crores and a Net Profit of ₹31.37 crore. The stock has given a whopping return of around 200% in the preceding 12 months. Scrip currently trades at a P/E of 87.53.

3. Heritage Foods Ltd - Heritage Foods stock price has briskly skyrocketed with a 55% surge in just this week and was locked at the upper band at ₹ 661.25 on Friday. Chandra Babu Naidu founded company has been buzzing, TDP’s performance in Lok Sabha polls has helped them to clinch good bargain terms in NDA’s coalition government.

The dairy company has newly added ‘Pure Ghee Laddus and Alpenvie Kids Ice Cream’ to its product portfolio. Laddus comes in a range of millets and Ice-creams have been introduced in trending flavors like Banana Strawberry, Cotton Candy and Bubblegum.

4. Jaiprakash Associates Ltd - Jaiprakash Associates Ltd a flagship company of Noida-based Jaypee Group on Friday company’s stock price plunged to a lower circuit after a 5% fall to ₹10.90.

On June 3 2024, the Allahabad bench National Company Law Tribunal directed insolvency proceedings against debt-ridden Jaiprakash Associates. An insolvency plea against the company was filed by ICICI Bank in 2018 and by SBI Bank in 2022. The company has a Total borrowing ( including interest) of ₹29,805 crore. It has informed that it had on April 30 2024 defaulted on repayment of the principal amount ₹1,751 crore. The stock price has tanked around 33% this week.

5. RattanIndia Power Ltd - The Thermal Power producing company on Friday morning plummeted to ₹18 touching a lower circuit limit. RattanIndia Power in the results of Q4FY24 has reported a Net Profit of ₹10,665.75 crore, bottom line included exceptional gains of ₹10,635.08.

The stock price has already rallied about 75% over the last one month. Fall could be attributable to correction after a mammoth rally. Operating margin was steady at 23% for the last 2 quarters of FY24. During FY24 the company reported ₹3734 Total Revenue and EBITDA ( Earning before Interest, Tax, Depreciation and Amortization) ₹1002.

Uplearn

About The Author

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

Next Story