Panacea Biotec, Ratnaveer Precision Engineering, MIC Electronics and Ravindra Energy hit the upper circuit

Domestic equity bourses, NIFTY50 and SENSEX, were trading in the green, advancing by 0.17% and 0.20%, respectively. Nifty Midcap 100 index trading negatively, down by 0.19% and the Nifty Smallcap 100 index is trading positively, up 0.10%.

On the NSE, 80 stocks hit the upper price band (Upper Circuit), and 46 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 (September 18, 2024)

Panacea Biotec Ltd

Over the past three months, the company's shares have surged by 176%. Currently, India lacks an antiviral treatment or licensed vaccine for dengue. Panacea Biotec is working on a dengue vaccine, which has been in development since 2006. In March 2022, the company partnered with the Indian Council of Medical Research (ICMR) for this project. On August 14, Panacea Biotec commenced Phase-3 trials for its Tetravalent Dengue Vaccine, DengiALL, in India. Approved by the Drug Controller General of India (DCGI), these trials involve 10,335 participants across 19 sites and represent the first Phase-3 clinical trial for a dengue vaccine in India.

Additionally, the company recently announced the settlement of a legal dispute with Sanofi Healthcare India Private Limited (Sanofi). On May 17, 2021, Panacea Biotec filed a lawsuit in the Delhi High Court to prevent Sanofi from marketing a fully liquid hexavalent vaccine that would infringe on Panacea’s patent for its wP-IPV based fully liquid hexavalent vaccine, EasySix. Under the settlement, Sanofi has agreed not to launch its fully liquid hexavalent vaccine Shan6 in India commercially and will withdraw its opposition to Panacea Biotec’s Patent IN 272351 on the hexavalent vaccine before the Indian Patent Office.

Ratnaveer Precision Engineering Ltd

Over the past six months shares of the company have surged by 95%. On September 5 the company reported that it had allotted 20,27,972 warrants convertible into 20,27,972 equity shares of ₹10 each at a price of ₹143 per share to promoters on a preferential basis. The company has a market capitalisation of ₹1,080 crore.

Ravindra Energy Ltd

Incorporated in 1980, Ravindra Energy is in the business of selling Solar Pumps, setting up Solar Generation Power Plant (Ground Mount & Rooftop) & generation and sale of Power. The company has a market capitalisation of ₹1,950 crore and over the past year company shares have surged by 123%.

MIC Electronics Ltd

On September 10, 2024, the company reported that it had received a letter of acceptance from the Salem Division of the Southern Railway Zone for the provision of telecom-based passenger amenities at SGE, SA and the provision of FIOSNET at ELS, Erode. The aggregate value of the said work order is ₹1.33 crore.

The company has a market capitalisation of ₹2,630 crore and over the past year company shares have surged by 275%.

Stocks hitting the lower circuit on Wednesday (September 18, 2024)

Tribhovandas Bhimji Zaveri Ltd

Incorporated in 2007, Tribhovandas Bhimji Zaveri (TBZ) is in the business of retail sales of ornaments made of gold, diamond, silver, platinum and precious stones. The company has a market capitalisation of ₹1,950 crore and over the past three months, shares have surged by 158%.