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  5. Ravindra Energy, Solara Active Pharma Sciences and 20 Microns hit the upper circuit

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Ravindra Energy, Solara Active Pharma Sciences and 20 Microns hit the upper circuit

Upstox
By Upstox News Desk

5 min read | Updated on October 18, 2024, 12:55 IST

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SUMMARY

On Friday, the NIFTY50 index traded in the red near the 24,700 level. Ravindra Energy, Solara Active Pharma Sciences and 20 Microns hit the 5% upper circuit, while Pondy Oxides & Chemicals, PC Jeweller and Indo Tech Transformers hit the 5% lower circuit today.

Stock list

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Ravindra Energy, Solara Active Pharma Sciences and 20 Microns hit the upper circuit, while Pondy Oxides & Chemicals, PC Jeweller and Indo Tech Transformers hit the lower circuit today

Ravindra Energy, Solara Active Pharma Sciences and 20 Microns hit the upper circuit, while Pondy Oxides & Chemicals, PC Jeweller and Indo Tech Transformers hit the lower circuit today

Domestic equity bourses, NIFTY50 and SENSEX, are trading in the red, declining by 0.07% and 0.16%, respectively. The Nifty Midcap 100 index and Nifty Smallcap 100 index are trading in the red, falling by 0.20% and 0.58%, respectively.

On the NSE, 35 stocks hit the upper price band (Upper Circuit), and 55 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 Friday (October 18, 2024)

Ravindra Energy Ltd

Ravindra Energy stock got locked in the 5% upper circuit at ₹136.80. Incorporated in 1980, Ravindra Energy is in the business of selling solar pumps, setting up solar generation power plants (ground mount and rooftop) and generation and sale of power.

On October 16 after the market closed Ravindra Energy reported that it had raised ₹179 crore by selling 24.3 million equity shares. The allotment of 24.3 equity million shares was at a face value of ₹10 per equity share and a premium of ₹64 per equity share on a preferential basis. The equity shares were allotted to 29 non-promoter entities.

The largest allottees were COEUS Global Opportunities Fund (2.43 million), Quant Mutual Fund - Quant Manufacturing Fund (2.43 million), Mukul Mahavir Agrawal (2.16 million) and New Vernon India (1.68 million). The company has a market capitalisation of ₹2,100 crore. Over the past year shares of the company have gained by 115%.

Solara Active Pharma Sciences Ltd

In the early morning session of Friday, Solara Active Pharma Sciences shares hit the 5% upper circuit at ₹844.25. The company is engaged in the business of manufacturing, production, processing, formulating, sale, importing, exporting, merchandising, distributing, and trading of APIs.

A meeting of the Board of Directors of the company is scheduled to be held on Monday, October 21, 2024, to consider and approve the unaudited financial results (standalone and consolidated) of the company for the Quarter and Half ended September 30, 2024. It has a market capitalisation of ₹4,000 crore. Over the past year shares of the company have gained by 167%.

20 Microns Ltd

In the early morning session of Friday, 20 Microns shares hit the 5% upper circuit at ₹306.45. Incorporated in 1987, 20 Microns is in the business of Industrial Micronised Minerals and Speciality Chemicals.

The company is set to hold a meeting of the Board of Directors on Friday, October 25, 2024, to consider and approve the unaudited financial results (standalone and consolidated) of the company for the Quarter and Half ended September 30, 2024. It has a market capitalisation of ₹1,050 crore. Over the past year shares of the company have gained by 112%.

Stocks hitting the lower circuit on Friday (October 18, 2024)

Pondy Oxides & Chemicals Ltd

Shares of Pondy Oxides & Chemicals (POCL) hit the 5% lower circuit limit in the morning session of Friday at ₹1,061.35. On October 16, after the market closed, the company declared financial results for the Q2FY25 and H1FY25.

Consolidated revenue from operations has increased to ₹1,024 core up 42% (YoY) on a half-yearly basis and to ₹579 crore up 46% (YoY) & 30% (QoQ) on a quarterly basis. Consolidated PAT more than doubled and increased to ₹28 crore up 188% (YoY) on a half-yearly basis and to ₹15 crore up 168% (YoY) on a quarterly basis. PAT Margins increased to 3%.

POCL has invested ₹50 crore in Capex during H1FY25. The board of the company approved the raising of funds for an aggregate amount not exceeding ₹250 crore through Qualified Institutional Placement (QIP) in one or more tranches. Additionally, on October 16 the company had a record date for Share Split. Face Value Split (Sub-Division) From ₹10 per share to ₹5 per share.

Incorporated in 1995, Pondy Oxides and Chemicals manufactures Lead Metal and Alloys and other Non-ferrous metals. The company has a market capitalisation of ₹2,800 crore and has increased its shares by 362% over the past year.

PC Jeweller Ltd

Popular jewellery brand PC Jeweller hit the 5% lower circuit limit in the morning session of Friday at ₹175.80. 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 ₹8,350 crore and has increased its shares by 465% over the past year.

Indo Tech Transformers Ltd

Indo Tech Transformers shares were locked in a 5% lower circuit at ₹2,376.85 in the early morning session of Friday. Indo Tech Transformers manufactures power and distribution transformers, various special application transformers, mobile substation transformers, and substations. The company has a market capitalisation of ₹2,500 crore. Over the past year, its shares have increased by 341%.
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