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Reliance Infrastructure, Jyoti Structures and EPACK Durable hit the upper circuit while Aurionpro Solutions and others hit the lower circuit today
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6 min read | Updated on October 23, 2024, 12:16 IST
SUMMARY
On Wednesday, the NIFTY50 index traded in the green above the 24,500 level. Reliance Infrastructure, Jyoti Structures and EPACK Durable hit the 5% upper circuit while Aurionpro Solutions, PC Jeweller and Kalyani Investment Company hit the 5% lower circuit today.
Reliance Infrastructure, Jyoti Structures and EPACK Durable hit the upper circuit while Aurionpro Solutions, PC Jeweller and Kalyani Investment Company hit the lower circuit today
Domestic equity bourses, NIFTY50 and SENSEX, are trading in the green, advancing by 0.23% and 0.24%, respectively. The Nifty Midcap 100 index and Nifty Smallcap 100 index are trading in the green increasing by 1.04% and 1.36%, respectively.
On the NSE, 44 stocks hit the upper price band (Upper Circuit), and 123 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 23, 2024)
Reliance Infrastructure Ltd
Reliance Infrastructure through its subsidiaries has exported defence equipment worth more than ₹1,000 crore over a period of time. Reliance Infrastructure’s wholly owned subsidiaries Jai Armaments Limited and Reliance Defence Limited already have licenses from Govt of India for the manufacturing of Arms and Ammunition. Reliance has successful Joint Ventures (JVs) at MIHAN, Nagpur, Maharashtra with two of the leading Global Defence companies - Dassault Aviation and Thales of France.
Reliance Infrastructure is engaged in developing infrastructure projects through various Special Purpose Vehicles (SPVs) in several sectors such as power, roads, metro rail and airports in the infrastructure space and the defence sector. The company has a market capitalisation of ₹10,300 crore. Over the past one year, the stock has gained 55%.
Jyoti Structures Ltd
Jyoti Structures was incorporated in 1974. The company are dedicated to creating an infrastructure that facilitates the transmission of extra-high-voltage electric power. Company expertise includes delivering turnkey projects involving designing, testing, manufacturing, erecting and commissioning transmission lines, sub-stations and power distribution projects. The company has a market capitalisation of ₹2,800 crore. Over the past one year, the stock has gained 140%.
EPACK Durable Ltd
Hisense has contracted EPACK Durable to set up an advanced dedicated manufacturing facility in India to produce Hisense's range of Air conditioners and Home Appliances. EPACK Durable will immediately invest, firstly, in a new manufacturing facility in Sricity (Andhra Pradesh) with a capacity of 1 million RACs by FY27-28, with initial production set to begin in June 2025. This strategic cooperation agreement with Hisense is likely to garner additional revenue of approximately $1 billion over the next 5 years for EPACK Durable and its subsidiary.
Incorporated in 2019, EPACK Durable is an Original Design Manufacturer (ODM) of room air conditioners (RAC). It stands second in production volumes for Room Air-conditioners. The company has a market capitalisation of ₹4,100 crore. Over the past six months, the stock has gained 107%.
Stocks hitting the lower circuit on Wednesday (October 23, 2024)
Aurionpro Solutions Ltd
Aurionpro Solutions is an advanced technology solutions company catering to the needs of the Banking, Mobility, Payments and Government sectors. It covers multiple technology solutions under our umbrella, acting as one platform for Advanced and Accelerated Platform-led Transformation, guiding businesses to ADAPT to a new paradigm in Digital. It has a market capitalisation of ₹9,000 crore.
| (₹ in crores) | Growth | ||||
|---|---|---|---|---|---|
| Particulars | Q2FY25 | Q1FY25 | Q2FY24 | YoY | QoQ |
| Total Income | 283 | 268.46 | 213.42 | 32.60% | 5.42% |
| PAT | 45.51 | 44.6 | 34 | 33.85% | 2.04% |
PC Jeweller Ltd
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. Out of which ₹2,025 crores will be used for repayment of bankers' outstanding debts. Earlier the company received approval from all fourteen consortium member banks to approve the Offer for Settlement (OTS) proposal.
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.
PC Jeweller manufactures, sells, and trades gold, diamond-studded, and silver jewellery and operates in different geographical areas. It has a market capitalisation of ₹7,500 crore.
| (₹ in crores) | Growth | ||||
|---|---|---|---|---|---|
| Particulars | Q2FY25 | Q1FY25 | Q2FY24 | YoY | QoQ |
| Total Income | 548.54 | 439.78 | 494.24 | 10.99% | 24.73% |
| PAT | 178.88 | 156.06 | -138.13 | - | 14.62% |
Kalyani Investment Company Ltd
Kalyani Investment Company is part of the Kalyani Group. It is a Core Investment Company holding more than 60% of its net assets in equity shares of Group Companies and more than 90% in equity/preference shares of or debentures/debts in Group Companies. It boasts a market capitalisation of ₹3,500 crore, while the shares have gained 202% over the past year.
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