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NIIT, Kothari Petrochemicals, Zen Technologies and Asian Energy Services hit the upper circuit

Upstox
By Upstox News Desk

6 min read | Updated on August 26, 2024, 15:30 IST

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SUMMARY

On Monday, the NIFTY50 index traded in positive terrain above 25,000 levels. NIIT and Kothari Petrochemicals hit the 20% upper circuit while Zen Technologies and Asian Energy Services hit the 5% upper circuit. Sakuma Exports hit the 10% lower circuit while Reliance Power and E2E Networks hit the 5% lower circuit today.

Stock list

NIITLTD
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ZENTEC
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SAKUMA
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RPOWER
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NIIT, Kothari Petrochemicals, Zen Technologies and Asian Energy Services hit the upper circuit while Sakuma Exports, Reliance Power and E2E Networks hit the lower circuit today

NIIT, Kothari Petrochemicals, Zen Technologies and Asian Energy Services hit the upper circuit while Sakuma Exports, Reliance Power and E2E Networks hit the lower circuit today

Domestic equity bourses, NIFTY50 and SENSEX, were trading in the green, advancing by 0.65% and 0.67%, respectively. Nifty Midcap 100 index and Nifty Smallcap 100 index are in green increasing by 0.41% and 0.22%, respectively.

On the NSE, 130 stocks hit the upper price band (Upper Circuit), and 48 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 Monday

NIIT Ltd

Shares of NIIT got locked in the 20% upper circuit at ₹153.90 in the early morning session on Monday. NIIT is a leading skill and talent development corporation that is building a manpower pool for global industry requirements. The company was established in 1981 to help the nascent IT industry overcome its human resource challenges.

Thandai Family Trust and Pawar Family Trust who are the company's largest shareholders have increased their stake in the company. Additionally, ace investor Ramesh Damani through a bulk deal acquired 8,00,000 shares on August 23. The company has fixed Thursday, September 05, 2024, as the Record Date for the dividend of ₹0.75. The company’s 41st Annual General Meeting (AGM) of the members of the company will be held on Tuesday, September 24, 2024.

The company has a market capitalisation of ₹2,080 crore. Over the past year, its shares have climbed by 93%.

Kothari Petrochemicals Ltd

Kothari Petrochemicals stock hit the 20% upper circuit at ₹225.50 in the early morning session on Monday. Incorporated in 1990, Kothari Petrochemicals is the manufacturer of PolyIso Butylene.

Recently the company declared financial results and the net profit of the company rose 23.63% to ₹19.36 crore in the quarter ended June 2024 as against ₹15.66 crore during the previous quarter ended June 2023. Sales declined 2.60% to ₹144.86 crore in the quarter ended June 2024 as against ₹148.72 crore during the previous quarter ended June 2023. The company has a market capitalisation of ₹1,300 crore. Over the past year, its shares have climbed by 110%.

Zen Technologies Ltd

On Monday, shares of Zen Technologies were locked in the 5% upper circuit at ₹1,876.05. The company has successfully raised ₹1,000 crore through its first-ever Qualified Institutional Placement (QIP). The QIP launched on August 21, 2024, and closed on August 23, 2024. Key investors participating in this QIP include Kotak Mutual Fund, White Oak Offshore Fund, White Oak Mutual Fund, Motilal Oswal Mutual Fund, and Bandhan Mutual Fund, amongst others.

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. The company has a market capitalisation of ₹15,700 crore. Over the past year, its shares have climbed by 130%.

Asian Energy Services Ltd

Asian Energy Services stock got locked in the 5% upper circuit at ₹423.20 in the early morning session on Monday. The company has scheduled a board meeting intimation on Tuesday, August 27, 2024, to consider fundraising by way of issue of equity shares or securities or convertible warrants on a preferential basis.

Recently the company has declared financial results for Q1FY25. In the quarter, it reported a 26.11% increase in total income from ₹48.76 crore in Q1FY24 to ₹61.49 crore. PAT has increased from a net loss of ₹3.03 crore in Q1FY24 to ₹2.06 crore. The total order book as of Q1FY25 is at ₹1,022 crore, where 61% is attributable to infra or CHP, 34% to operations and maintenance and 5% to seismic.

Asian Energy Services is an oilfield service and reservoir imaging company, offering a suite of geophysical services specialising in land and well seismic services and operation and maintenance services for oilfields. It is one of the few companies providing end-to-end services in the upstream oil segment. The company has a market capitalisation of ₹1,700 crore. Over the past year, its shares have climbed by 197%.

(₹ in crores)Growth
ParticularsQ1FY25Q4FY24Q1FY24YoYQoQ
Total Income61.49119.5548.7626.11%-48.57%
PAT2.0614.67-3.03--85.96%

Stocks hitting the lower circuit on Monday (August 26, 2024)

Sakuma Exports Ltd

Sakuma Exports shares were locked in the 10% lower circuit at ₹7.15 in the early morning session of Monday. This decline likely stems from a post-bonus surge in investor interest, which drove the price up. However, once the Relative Strength Index (RSI) exceeded 65, coupled with the psychological barrier of ₹10, investor confidence waned, leading to a price drop.

Sakuma Exports is engaged in buying, processing, marketing, and exporting bulk agricultural commodities like sugar, edible oils, oil seeds, pulses, cotton, etc. It also offers innovative financial structured products linked to physical commodities. The company has a market capitalisation of ₹1,120 crore.

Reliance Power Ltd

Shares of Reliance Power locked in the 5% lower circuit at ₹32.73 in the early morning session of Monday. Share price plummeted 5% due to the Securities and Exchange Board of India's (SEBI) imposition of a five-year ban on Anil Ambani and 24 others, including Reliance Home Finance officials. This negative impact was felt across the group, with Reliance Home Finance shares hitting a 5% lower circuit.

Reliance Power has been established to develop, construct and operate power projects both in India as well as internationally. The company on its own and through its subsidiaries has a large portfolio of power generation capacity, both in operation as well as capacity under development. The company has a market capitalisation of ₹13,00 crore.

E2E Networks Ltd

E2E Networks stock hit the 5% lower circuit at ₹2,404.75 in the early morning session of Monday. Recently the company has successfully closed a strategic investment round, securing ₹420.51 crore through a preferential issue of equity shares. The Board of Directors approved the preferential issue of up to 24,81,592 equity shares at an issue price of ₹1,694.50 per share. The funds will be deployed to accelerate the growth of E2E Networks AIFirst Cloud Platform, enhancing its capability to support advanced machine learning and AI-driven applications.

E2E Cloud is a MeitY-empanelled AI-focused cloud provider. The company offers advanced cloud GPUs such as HGX H100, A100, and L4OS, along with high-end InfiniBand-powered configurations like 64xH100 and 256xH100. E2E Cloud also features an advanced AI development platform, TIR, enabling developers to train and deploy foundational AI models. Serving nearly 3000 customers, E2E Cloud is recognised as one of the most highly rated cloud providers in India. E2E Networks has a market capitalisation of ₹3,600 crore.

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