Raymond, Apollo Micro Systems, KPI Green Energy and Servotech Power Systems hit the upper circuit

Domestic equity bourses, NIFTY50 and SENSEX, were trading in the green on Monday, advancing 0.15% and 0.06% respectively. Nifty Midcap 100 index and Nifty Smallcap 100 index were trading in green with marginal gains.

In the morning session on Monday, on NSE, 75 stocks hit the upper price band (Upper circuit), and 63 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 15, 2024)

Raymond Ltd

The stock had only buyers in the market as it discovered their ex-demerger price (after demerging lifestyle business) on the exchange. July 11 was the ex-date for its lifestyle business demerger.

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. Four equity shares of Raymond Lifestyle of ₹2 each, fully paid up, shall be issued and assigned to Raymond shareholders holding five equity shares of ₹10 each, fully paid up as of the record date. The lifestyle division is expected to be listed in the next two months. The demerger is expected to unlock value for shareholders.

The Raymond Group is net debt-free after it sold its FMCG business in FY24 for ₹2,825 crore. Both listed companies, Raymond and Raymond Lifestyle, shall now stand net debt-free. The Raymond Group would now have three core sectors: lifestyles under the new entity Raymond Lifestyle and real estate and engineering under Raymond.

Apollo Micro Systems Ltd

Apollo Micro Systems is a pioneer in the design, development, assembly and testing of electronic and electro-mechanical solutions. It has a market capitalisation of ₹3,300 crore. Over the past year shares of the company have surged by 97%.

KPI Green Energy Ltd

The company will be doing a stock split this week as it has fixed Thursday, July 18, 2024, as the Record Date. The record date is the last date on which shareholders are eligible to participate in corporate actions. Currently, the company has a face value of ₹10 which will split into 2 equity shares having a face value of ₹5.

Recently, the company has reported that it has successfully signed a Solar-Wind Hybrid Power Project Power Purchase Agreement with Gujarat Urja Vikas Nigam Limited. This project comprises 50 MW Solar and 16.80 MW Wind. As of March 31, 2024 company order book stands at 1.23 GW DC. The company has a market capitalization of ₹11,700 crore. Over the past year, shares have soared by 245%.

Servotech Power Systems Ltd

Recently the company announced it has established a new subsidiary Servotech Sports and Entertainment Pvt. Ltd to foray into the sports line. It has taken a bold step towards diversification and expansion where the company will be dedicated to the sports sector, events and promotion.

Currently, Servotech Power Systems has a market capitalisation of ₹2,600 crore. Over the past one year shares of the company have advanced by 42%.

Stocks hitting the lower circuit on Monday (July 15, 2024)

Aurionpro Solutions Ltd

The stock had no buyers and only sellers in today’s trade. Aurionpro Solutions utilises cutting-edge Intellectual Property to provide concrete business outcomes for global corporations. Their innovative products target Transaction Banking Platforms, Customer Experience, Smart city, and Smart Transportation challenges.

The company has informed the exchange about the Board Meeting to be held on July 24, 2024, to declare results for the quarter ended June 2024.

In FY24, the company posted consolidated revenue of ₹887 crore (35% YoY growth) and ₹143 crore net profit (42% YoY growth). The shareholding pattern of Q1FY25 saw an increase in FIIs holding in the company from 6.27% in the previous quarter to 12.70%.