PC Jeweller, Authum Investment & Infrastructure, and Radhika Jeweltech hit the upper circuit, while Ravindra Energy hit the lower circuit today

Domestic equity bourses, NIFTY50 and SENSEX, are trading in the red declining by 1.1% each. The Nifty Midcap 100 index and the Nifty Smallcap 100 index are trading negatively, down by 0.63% and 0.51%, respectively.

On the NSE, 83 stocks hit the upper price band (Upper Circuit), and 85 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 (September 30, 2024)

PC Jeweller Ltd

PC Jeweller manufactures, sells, and trades gold, diamond-studded, and silver jewellery and operates in different geographical areas. The company has a market capitalisation of ₹8,300 crore and over the past one year, it has surged by 576%.

Authum Investment & Infrastructure Ltd

Authum along with Mahi Madhusudan Kela will acquire a 46.85% stake in Prataap Snacks from its Private Equity promoters, including Peak XV Partners Growth Investment Holdings I, Peak XV Partners Growth Investment II and Sequoia Capital GFIV Mauritius Investments.

Authum Investment & Infrastructure is engaged in the business of fund-based activities viz, investment in shares, securities, mutual funds etc and providing loans and advances, etc. The company has a market capitalisation of ₹29,900 crore and over the past one year, it has surged by 266%.

Radhika Jeweltech Ltd

Jewellery stocks are rising as a surge in demand and strong market sentiment have pushed these stocks to outperform expectations. According to experts, the surge in jewellery demand in India is driven by increasing disposable incomes, a growing preference for regular wear jewellery beyond traditional wedding pieces, investment pieces, diversified product offerings (like new designs and diamonds), greater trust through hallmarking, and enhanced shopping experience at organised retail stores. The recent Union Budget cuts in customs duties on gold and silver also sparked a rally in gold stocks.

Stocks hitting the lower circuit on Monday (September 30, 2024)

Ravindra Energy Ltd

Over the past three months, the stock surged by almost 150%. After rising in triple digits in such a short time, investors would have opted to take profit off the table, which could have led the stock to hit a lower circuit limit for the day.

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 ₹2,150 crore.