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  5. PC Jeweller, Shakti Pumps (India) and Servotech Power Systems hit the upper circuit while Raymond hit the lower circuit

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PC Jeweller, Shakti Pumps (India) and Servotech Power Systems hit the upper circuit while Raymond hit the lower circuit

Upstox
By Upstox News Desk

3 min read | Updated on July 22, 2024, 14:32 IST

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SUMMARY

On Monday, after opening negatively, the NIFTY50 index trading in green near 24,600 level. PC Jeweller, Shakti Pumps (India) and Servotech Power Systems hit the 5% upper circuit while Raymond hit the 5% lower circuit.

Stock list

PCJEWELLER
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SHAKTIPUMP
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SERVOTECH
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RAYMOND
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PC Jeweller, Shakti Pumps (India) and Servotech Power Systems hit the upper circuit while Raymond hit the lower circuit

PC Jeweller, Shakti Pumps (India) and Servotech Power Systems hit the upper circuit while Raymond hit the lower circuit

Domestic equity bourses, NIFTY50 and SENSEX, were trading in the green on Monday, advancing by 0.21% and 0.22%, respectively. Nifty Midcap 100 index and Nifty Smallcap 100 index were also in green increasing by 1.33% and 1.03%, respectively.

In the morning session on Monday, on the NSE, 68 stocks hit the upper price band (Upper circuit), and 96 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 (July 22, 2024)

PC Jeweller Ltd

The stock of a popular jewellery brand hit an upper circuit of 5% on Monday morning session at the price of ₹70.63. This comes after the company received approval on the One Time Settlement (OTS) proposal submitted by the company to Bank of Baroda on July 20, 2024. The company had opted for OTS to settle the outstanding dues.

PC Jeweller is engaged in the business of manufacturing, sale and trading of gold jewellery, diamond-studded jewellery and silver items and operates in different geographical areas. The company has a market capitalisation of ₹3,300 crore. In the last one year, shares of the company have surged 126%.

Shakti Pumps (India) Ltd

Today, shares of Shakti Pumps (India) locked in 5% upper circuit at ₹4,095.10. The company reported strong financials for Q1FY25 on July 20, 2024 saturday. For the Q1FY25 company has reported 402% growth in net sales from ₹113.08 crore to ₹567.56 crore and net profit has increased by 9166% from ₹1 crore to ₹92.66 crore.

Shakti Pumps (India) Ltd is primarily engaged in manufacturing pumps and motors of various kinds. It also offers advanced water pumping solutions to a wide range of applications such as irrigation, horticulture, domestic water supply, commercial and industrial applications. Over the past year, shares of the company have zoomed by 514%. It has a market capitalisation of ₹8,200 crore.

Servotech Power Systems Ltd

On Monday, the stock of Servotech Power Systems hit the 5% upper circuit at ₹116.73. Servotech Power Systems develops tech-enabled EV Charging solutions leveraging their over two decades of experience and expertise in the electronics space.

Company is set to hold a Board Meeting on July 30, 2024 to approve the unaudited financial results for the first quarterly which ended in June 2024. Currently, Servotech Power Systems has a market capitalisation of ₹2,600 crore. Over the past year, shares of the company have increased by 46%.

Stocks hitting the lower circuit on Monday (July 22, 2024)

Raymond Ltd

In the early morning session of Monday, the stock price of India’s leading textile company Raymond got locked in the lower circuit limit of 5% at ₹1,986.30.

Recently, the company announced the demerger of its lifestyle business venture into Raymond Lifestyle (previously Raymond Consumer Care) and established the entitlement of the company's shareholders. The lifestyle division is expected to be listed in the next two months. The demerger unlocked value for shareholders. After the news company saw a good momentum and hit back to back cricut, but after a run-up profit booking has emerged which resulted in stock hitting a lower circuit.

The Raymond Group would now have three core sectors: lifestyles under the new entity Raymond Lifestyle and real estate and engineering under Raymond.

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.

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