return to news
  1. Upstox
    /
  2. News
    /
  3. Market News
    /
  4. Stocks
    /
  5. Shakti Pumps, Black Box and Marine Electricals hit the upper circuit while MIC Electronics hit the lower circuit

Market News

Shakti Pumps, Black Box and Marine Electricals hit the upper circuit while MIC Electronics hit the lower circuit

Upstox
By Upstox News Desk

3 min read | Updated on July 05, 2024, 13:16 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

On Friday, the NIFTY50 index traded in negative terrain below the 24,300 level. Black Box hit 10% upper circuit while Shakti Pumps (India) and Marine Electricals (India) hit the 5% upper circuit. MIC Electronics trended lower hitting a 5% lower circuit.

Stock list

BBOX
--
SHAKTIPUMP
--
MARINE
--
MICEL
--
Black Box, Shakti Pumps (India) and Marine Electricals (India) hit the upper circuit while MIC Electronics hit the lower circuit

Black Box, Shakti Pumps (India) and Marine Electricals (India) hit the upper circuit while MIC Electronics hit the lower circuit

Domestic equity bourses, NIFTY50 and SENSEX, were trading in the red on Friday, declining by 0.24% and 0.39%, respectively. Nifty Midcap 100 index and Nifty Smallcap 100 index are positive by 0.34% and 0.59%, respectively.

In the morning session on Friday, on NSE, 90 stocks hit the upper price band (Upper circuit) and 20 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 Friday (July 05, 2024)

Black Box Ltd

Shares of Black Box hit a 10% upper circuit at ₹404.55 in the early morning session of Friday. Black Box is a global digital infrastructure integrator offering connectivity and network solutions, data centre solutions, modern workplace solutions, and cybersecurity solutions.

The stock price has broken above a key resistance level on the chart, leading to a surge in buying pressure. The stock is currently in an overbought zone having an RSI of 74.3. The company has a market capitalisation of ₹6,700 crore. Over the past one year shares of the company have surged by 167%.

Shakti Pumps (India) Ltd

Shakti Pumps (India) shares touched a 5% upper circuit at ₹4,570.25. The company has been trending higher since it reported strong financials for Q4FY24 and the financial year end of 2024. It reported a net profit of ₹89.7 crore for Q4FY24 compared to ₹2.2 crore in Q4FY23; while in Q3FY24 it had a profit of ₹45.2 crore. As of March 31, 2024, the company order book stands at ₹2,400 crore which will be executed within 18 months.

Over the last six months, shares have increased by 347%, and in the past year, they have zoomed by 667%. Shakti Pumps (India) is primarily engaged in manufacturing pumps and motors of various kinds. It has a market capitalisation of ₹9,100 crore.

Marine Electricals (India) Ltd

Marine Electricals (India) shares were locked in a 5% upper circuit in the early morning session of Friday at ₹187.82. Marine Electricals (India) is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions.

For Q4FY24, the company reported a 203.52% increase in PAT and a 65.65% increase in net sales. Recently, the company received an order amounting to ₹10.35 crore from L&T Shipbuilding for the supply of a Data Distribution Unit. The company has a market capitalisation of ₹2,500 crore. Over the past year, the company's shares have increased by 288%.

Stocks hitting the lower circuit on Friday (July 05, 2024)

MIC Electronics Ltd

MIC Electronics stock got locked in a 5% lower circuit at ₹85.98. MIC Electronics is a global leader in the design, development and manufacturing of LED Video Displays, high-end Electronic and Telecommunication equipment and development of Telecom software since 1988. Recently, the company reported that it has received a new order from the Ministry of Railways, Government of India.

Over the past six months shares of the company have surged by 152% and in the last one year shares of the company gained 265%. Given the fact that the stock has risen swiftly in the short-term period, market participants have preferred to take profits off the day. The company has a market capitalisation of ₹2,000 crore.

Uplearn

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.

Next Story