return to news
  1. Paytm, Alphalogic hit upper circuit, while Puravankara hits lower circuit

Market News

Paytm, Alphalogic hit upper circuit, while Puravankara hits lower circuit

Upstox

4 min read | Updated on May 27, 2024, 12:31 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

Paytm, Alphalogic Techsys, RIR Power Electronics and JITF Infralogistics hit a 5% upper circuit, while Puravankara touched the lower circuit for second consecutive day.

Stock list

PAYTM
--
ALPHALOGIC
--
PURVA
--
stock-market-6531146_1280.jpg

Purvankara shares hit lower circuit for second consecutive day

On Monday, the BSE Sensex hit an all-time high at 75,679.67 levels. After hitting this milestone, the index trimmed its gains and was trading around the level of 75,628.83 up by 218 points. Additionally, the BSE Midcap index has also hit all-time highs at 43,887.7 and BSE Smallcap Index is trading at 48,000 levels.

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 (May 27, 2024)

One 97 Communications Ltd (Paytm) Shares of Paytm hit the upper circuit of 5% today and are currently trading at ₹356.40. The company’s share price surged after it has reported doubling down its focus on the insurance distribution portfolio built by Paytm Insurance Broking Private Ltd and Withdraws General Insurance Manufacturing Application.

Earlier the company reported it has started experimenting with ONDC and on May 22, the company declared its financial results and that day too it hitted 5% upper circuit. Here is the table for financial results on a consolidated basis (in ₹ crores).

ParticularsMar-24Dec-24Mar-23FY24FY23
Total Income2398.82999.12464.610524.78400
Loss for Period536.4221168.21390.41742.9
Alphalogic Techsys Ltd On Monday, shares of Alphalogic Techsys were locked in the 5% upper circuit at ₹381.50 The company's stock is hitting a back-to-back 52-week high, along with hitting back-to-back upper circuits over the last month. In that same period, the stock has soared by 160.55%. The key trigger for the rally is better-than-expected earnings from the company and the announcement of bonus shares in the ratio of 14:48. This means investors would receive 14 shares as bonus shares for every 48 shares held by them. The record date is yet to be ascertained as the company has mentioned “The record date to determine eligibility for bonus share will be intimated at a later date.” In the year 2021, the company issued bonus shares in the ratio of 27:10.

Alphalogic Techsys is in the business of providing Information Technology and related services. It has a market capitalisation of ₹1,800 crore. Here is the table for financial results on a consolidated basis.

ParticularsMar-24Dec-24Mar-23YoYQoQ
Total Income17.9815.018.71106.43%19.79%
PAT1.291.961.0226.47%-34.18%
RIR Power Electronics Ltd

Shares of RIR Power Electronics locked in a 5% upper circuit at ₹1,775.95 amid strong financial results for the fourth quarter and financial year that ended on March 31, 2024. Additionally, the company recommended a final dividend of ₹2 per equity share. The company is engaged in the manufacturing of semiconductor devices, semiconductor modules and equipment (power rectifier, battery charger, universal control card).

It has a market capitalisation of ₹1,235 crore. Over the past year shares of the company have climbed by 338%. Here is the table for financial results on a consolidated basis.

ParticularsMar-24Dec-24Mar-23YoYQoQ
Total Income22.1114.9617.1528.92%47.79%
PAT2.781.121.2131.67%148.21%

Stocks hitting lower circuit on Monday (May 27, 2024)

Puravankara Ltd

Shares of Puravankara delivered returns of over 385% in the past one year. However, on Monday, the stock locked in a 5% lower at ₹403.55. It hit a lower circuit, courtesy of reporting a net loss for the quarter that ended March 2024. The company is in the business of development and sale of real estate. It has a market capitalisation of ₹9,570 crore. Here is the table for financial results on a consolidated basis.

ParticularsMar-24Dec-24Mar-23YoYQoQ
Total Income946.84595.88446.39112.11%58.90%
PAT-6.7177.7926.75-125.08%-108.63%
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