RattanIndia Power and Paytm hit the upper circuit, while Shakti Pumps (India) hit the lower circuit

Shares of Paytm hit the upper circuit of 5% today and are currently trading at ₹332. Over the past six months, the shares of the company have lost its value by over 62% and all this started after actions taken by RBI. In a recent jolt, Senior Management Personnel Bhavesh Gupta resigned from his post. The stock was seen moving southwards since then. However, on Thursday, the stock after opening at the level of ₹313.65, saw interest which is indicated by higher volume and rise in the share price. The total traded volume so far for the day stands at 87.82 lakh shares which is the highest in the last two months. The stock has seen a double-digit loss in the month of May.

RattanIndia Power Limited has been locked in a 5% upper circuit for the past few trading days mainly due to results anticipation for the Q4FY24 and year-end of March 2024. Today it got locked in the upper circuit at ₹11.29. RattanIndia Power is one of India’s largest private power generation companies. It has a market capitalisation of ₹6,062 crore. In the last one year, shares of the company have surged by 255.03%.

Shakti Pumps (India) Ltd was locked in back-to-back upper circuits for the past many trading days after reporting strong financials for Q4FY24 and the financial year end of 2024. After touching a new 52-week high of ₹2,400 on May 7, the sentiment of the investors seems to change as the stock surged by 40.70%. On the second consecutive day, the stock got locked in a 5% lower circuit at ₹2,075.30. Currently, it is trading in the overbought zone having an RSI of 76.3. Shakti Pumps (India) Ltd is primarily engaged in manufacturing pumps and motors of various kinds. In the last one year, the stock has risen over 395%.