Market News
4 min read | Updated on October 10, 2024, 12:49 IST
SUMMARY
On Thursday, the NIFTY50 index traded in the green above the 25,000 level. Shakti Pumps (India), Sterling and Wilson Renewable Energy, Panacea Biotec, Dredging Corporation of India and Exicom Tele-Systems hit a 5% upper circuit today.
Shakti Pumps (India), Sterling and Wilson Renewable Energy, Panacea Biotec, Dredging Corporation of India and Exicom Tele-Systems hit the upper circuit today
Domestic equity bourses, NIFTY50 and SENSEX, are trading in the green, advancing by 0.30% and 0.34%, respectively. The Nifty Midcap 100 index and Nifty Smallcap 100 index were trading positively, up by 0.42% and 0.54%, respectively.
On the NSE, 100 stocks hit the upper price band (Upper Circuit), and 26 stocks hit the lower price band (Lower Circuit).
Here is the list of stocks (market cap above ₹1,000 crore) locked in the upper circuit in today’s trading session.
The company reported strong financials for Q1FY25, with a 402% growth in net sales from ₹113.08 crore to ₹567.56 crore and a 9,166% increase in net profit from ₹1 crore to ₹92.66 crore. As of June 30, 2024, the company's order book stands at ₹2,000 crore.
Shakti Pumps (India) Ltd is primarily engaged in manufacturing pumps and motors of various kinds. It also offers advanced water pumping solutions for a wide range of applications, such as irrigation, horticulture, domestic water supply, and commercial and industrial applications. Over the past year, the company's shares have zoomed by 453%. It has a market capitalisation of ₹9,800 crore.
The board of directors of the company is scheduled to be held on Monday, October 14, 2024, to consider and approve the Financial Results of the Company for the quarter ended September 30, 2024. The company has a market capitalisation of ₹13,200 crore. Over the past year shares of the company have increased by 72%.
Currently, India lacks an antiviral treatment or licensed vaccine for dengue. Panacea Biotec is working on a dengue vaccine, which has been in development since 2006. In March 2022, the company partnered with the Indian Council of Medical Research (ICMR) for this project.
The company recently announced the settlement of a legal dispute with Sanofi Healthcare India Private Limited (Sanofi). On May 17, 2021, Panacea Biotec filed a lawsuit in the Delhi High Court to prevent Sanofi from marketing a fully liquid hexavalent vaccine that would infringe on Panacea’s patent for its wP-IPV based fully liquid hexavalent vaccine, EasySix. The company has a market capitalisation of ₹1,860 crore. Over the past six months shares of the company have risen by 108%.
The company has a market capitalisation of ₹3,300 crore. Over the past one year, the company's shares have increased by 162%.
On October 7, the company reported that Preeti Dhall Pal, Vice President, Human Resources (Senior Management Personnel) had resigned from the company and had appointed Pooja Duggal for the same post. The company has a market capitalisation of ₹4,080 crore.
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