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  5. PC Jeweller, GE T&D India and Diamond Power Infrastructure hit the upper circuit, while Vertoz hit the lower circuit today

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PC Jeweller, GE T&D India and Diamond Power Infrastructure hit the upper circuit, while Vertoz hit the lower circuit today

Upstox
By Upstox News Desk

4 min read | Updated on October 16, 2024, 13:02 IST

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SUMMARY

On Wednesday, the NIFTY50 index traded in the red near the 25,000 level. PC Jeweller, GE T&D India and Diamond Power Infrastructure hit the 5% upper circuit, while Vertoz hit the 5% lower circuit today.

Stock list

PCJEWELLER
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GET&D
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DIAPOWER
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VERTOZ
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PC Jeweller, GE T&D India and Diamond Power Infrastructure hit the upper circuit, while Vertoz hit the lower circuit today

PC Jeweller, GE T&D India and Diamond Power Infrastructure hit the upper circuit, while Vertoz hit the lower circuit today

Domestic equity bourses, NIFTY50 and SENSEX, are trading in the red, declining by 0.13% and 0.11%, respectively. The Nifty Midcap 100 index and Nifty Smallcap 100 index are trading in the red, falling by 0.11% and 0.12%, respectively.

On the NSE, 86 stocks hit the upper price band (Upper Circuit), and 28 stocks hit the lower price band (Lower Circuit).

Here is the list of stocks (market cap above ₹1,000 crore) locked in the upper and lower circuits in today’s trading session.

Stocks hitting the upper circuit on Wednesday (October 16, 2024)

PC Jeweller Ltd

Popular jewellery brand PC Jeweller stock was locked in the 5% upper circuit limit in the morning session of Wednesday at ₹176.85. PC Jeweller has informed through a filing that a meeting of the Board of Directors will be held on October 19 (Saturday) to consider and approve the unaudited standalone and consolidated financial results of the company for the quarter and six months ended September 30, 2024.

The company’s preferential issue of 48,13,42,500 Fully Convertible Warrants has been completed. The proposed allottees, including the promoter group, subscribed 99.89%, amounting to an issue size of ₹2,702.11 crore.

Recently, the company announced a 1:10 stock split, approved by its board of directors on September 30, 2024, to enhance liquidity and make the shares more affordable for retail investors. According to the company's official filing, this move will subdivide each fully paid-up equity share of ₹10 face value into 10 shares of ₹1 each. As a result, the total number of shares will increase from approximately 46.5 crore to 465.4 crore.

The company received approval from all fourteen consortium member banks to approve the OTS proposal. 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 ₹8,200 crore and has increased its shares by 434% over the past year.

GE T&D India Ltd

On Wednesday, the shares of GE T&D India hit the 5% upper circuit limit at ₹1,957.60. For Q1FY25 the company declared strong financial results. On a consolidated basis, for Q1FY25, the company reported a 32.98% growth in total income from ₹729.53 crore in Q1FY24 to ₹970.14 crore. Profit After Tax (PAT) has increased by 376.42% from ₹28.24 crore in Q1FY24 to ₹134.54 crore. For the first time in the past 13 quarters company’s PAT has increased by more than ₹100 crore.

For the Q1FY25 company has received new orders worth ₹1,029 crore and the total order book of the company stands at ₹6,280.9 crore. GE T&D India is the entity of GE Vernova’s Electrification business in India. It has been in the power transmission and distribution business for more than 100 years and provides a versatile range of solutions for connecting and evacuating power from generation sources onto the grid. It has a market capitalisation of ₹49,800 crore. Over the past one year shares of the company have surged by 371%.

Diamond Power Infrastructure Ltd

In the early morning session of Wednesday, shares of Diamond Power Infrastructure hit the 5% upper circuit for the fifth consecutive day at ₹1,741.95. On October 9, the company reported receiving a letter of intent worth ₹109.38 crore from Swastika Infra Private Limited for the supply of power cables. Swatika Infra is a contractor of Madhya Gujarat Vij Company Limited. The firm is to supply 240 square millimetres long XLPE Al 3 core cables of 11 kilovolts for a project under MGVCL's schemes. The contract is to be executed by March 2025.

Additionally, the company is set to hold a Board of Directors meeting on Wednesday, October 18, 2024, to consider and approve the subdivision/stock split of its equity shares and consider a proposal for fundraising. As of July 9, 2024, DPIL’s unexecuted order book position stood at ₹1,505 crore.

Diamond Power Infrastructure manufactures, transmits, and distributes power products and services in India. The company has a market capitalisation of ₹9,200 crore and has skyrocketed in shares over the past year by 2979%.

Stocks hitting the lower circuit on Wednesday (October 16, 2024)

Vertoz Ltd

Shares of Vertoz hit the lower price band of 5% at ₹19.54 in the early morning session of Wednesday. Vertoz Advertising founded in 2012, is an ad-tech Co. that offers data-driven marketing, advertising and monetisation solutions to Digital Marketers, Advertising Agencies and Digital Media businesses using the latest technologies. The company has in-house developed its full-stack and has also acquired various components to complement its products. The company has a market capitalisation of ₹1,670 crore.
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