Servotech Power Systems, KPI Green Energy, Radhika Jeweltech, PC Jeweller, Tribhovandas Bhimji Zaveri and Reliance Power hit the upper circuit today

Domestic equity bourses, NIFTY50 and SENSEX are trading in the green, advancing by 0.05% and 0.03%, respectively. The Nifty Midcap 100 index is trading positively, up by 0.18% and the Nifty Smallcap 100 index is trading negatively, down by 0.24%.

On the NSE, 109 stocks hit the upper price band (Upper Circuit), and 27 stocks hit the lower price band (Lower Circuit).

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

Stocks hitting the upper circuit on Tuesday (September 24, 2024)

Servotech Power Systems Ltd

Yesterday, the company reported that it will issue warrants convertible into equity shares on a preferential basis. The issue consists of 58,50,000 warrants at a price of ₹167.40 per warrant in cash, for aggregate consideration up to ₹97,92,90,000. Currently, the company has a market capitalisation of ₹4,300 crore. Over the past year, shares of the company have increased by 160%.

KPI Green Energy Ltd

Recently rating agency ICRA updated the company's long-term rating. It was upgraded to A from A- and the short-term rating was reaffirmed and the outlook changed to positive from stable. The company has reported strong financial earnings, on a consolidated basis for Q1FY25, the company reported 83.58% growth in total income from ₹190.57 crore in Q1FY24 to ₹349.85 crore. PAT has increased by 98.77% from ₹33.26 crore in Q1FY24 to ₹66.11 crore.

The company's cumulative order book stands at 2,327+ MW, out of which 1,260+ MW is under the Independent Power Producer (IPP) segment and 1,067+ MW is under the Captive Power Producer (CPP) segment. It has a market capitalisation of ₹11,300 crore. Over the past year, shares have soared by 212%.

Radhika Jeweltech Ltd

Jewellery stocks are rising as a surge in demand and strong market sentiment have pushed these stocks to outperform expectations. According to experts, the surge in jewellery demand in India is driven by increasing disposable incomes, a growing preference for regular wear jewellery beyond traditional wedding pieces, investment pieces, diversified product offerings (like new designs and diamonds), greater trust through hallmarking, and enhanced shopping experience at organised retail stores. The recent Union Budget cuts in customs duties on gold and silver also sparked a rally in gold stocks.

PC Jeweller Ltd

The company declared strong financial results for Q1FY25. In the quarter, the company reported a 505.67% increase in total income from ₹72.61 crore in Q1FY24 to ₹439.78 crore. PAT increased from a net loss of ₹171.62 crore in Q1FY24 to ₹156.06 crore. After six consecutive quarters of loss-making, the company generated profits this quarter.

Additionally, the company has settled its outstanding dues through One-Time Settlement (OTS) from many banks, including IDBI Bank, IDFC First Bank, Indian Bank, Indian Overseas Bank, Bank of Baroda, IndusInd Bank, and Canara Bank. 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 ₹7,120 crore and has surged 479% in shares in the last year.

Tribhovandas Bhimji Zaveri Ltd

Incorporated in 2007, Tribhovandas Bhimji Zaveri (TBZ) is in the business of retail sales of ornaments made of gold, diamond, silver, platinum and precious stones. The company has a market capitalisation of ₹1,980 crore and over the past six months, shares have surged by 180%.

Reliance Power Ltd

Reliance Power has been established to develop, construct and operate power projects in India and internationally. The company has a market capitalisation of ₹16,100 crore and over the past one year company shares have surged by 111%.