return to news
  1. Upstox
    /
  2. News
    /
  3. Market News
    /
  4. Stocks
    /
  5. Shakti Pumps (India), Sterling and Wilson Renewable Energy, Panacea Biotec, Dredging Corporation of India and Exicom Tele-Systems hit the upper circuit today

Market News

Shakti Pumps (India), Sterling and Wilson Renewable Energy, Panacea Biotec, Dredging Corporation of India and Exicom Tele-Systems hit the upper circuit today

Upstox
By Upstox News Desk

4 min read | Updated on October 10, 2024, 12:49 IST

Twitter Page
Linkedin Page
Whatsapp Page

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.

Stock list

SHAKTIPUMP
--
SWSOLAR
--
PANACEABIO
--
DREDGECORP
--
EXICOM
--
Shakti Pumps (India), Sterling and Wilson Renewable Energy, Panacea Biotec, Dredging Corporation of India and Exicom Tele-Systems hit the 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.

Stocks hitting the upper circuit on Thursday (October 10, 2024)

Shakti Pumps (India) Ltd

Shakti Pumps (India) stock was locked in the 5% upper circuit at ₹4,912.60 in the early morning session of Thursday. The company held the board meeting on Monday, October 7, 2024, where they recommended the issue of bonus shares in the ratio of 5:1. Five new fully paid-up equity shares of ₹10 each for every one existing fully paid-up equity share of ₹10 each to the eligible shareholders of the company as on the record date.

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.

Sterling and Wilson Renewable Energy Ltd

Shares of Sterling and Wilson Renewable Energy are locked in a 5% upper circuit today at ₹567.70. Sterling and Wilson Solar is one of the leading end-to-end solar engineering, procurement and construction (EPC) solutions providers globally and is also engaged in the operation and maintenance (O&M) of solar power projects. The company is backed by Reliance Industries (Reliance New Energy Limited).

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%.

Panacea Biotec Ltd

Shares of Panacea Biotec hit the 5% upper circuit limit at ₹304.35 in the early morning session of Thursday. Panacea Biotec is a global pharmaceutical and vaccine manufacturer based in New Delhi, Mumbai, and Lalru. The company researches, develops, manufactures, and markets pharmaceuticals, vaccines, biosimilars, and natural products.

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%.

Dredging Corporation of India Ltd

Dredging Corporation of India is locked in the 5% upper circuit band at ₹1,209.75 in the early morning session of Thursday. Dredging Corporation of India is engaged in providing integrated dredging services to ports, the Indian Navy and other maritime organizations in India.

The company has a market capitalisation of ₹3,300 crore. Over the past one year, the company's shares have increased by 162%.

Exicom Tele-Systems Ltd

Shares of Exicom Tele-Systems stock hit the upper circuit band of 5% at ₹345.45 in the early morning session of Thursday. Incorporated in 1994, Exicom Tele-Systems specialises in power systems, electric vehicle (EV) charging, and other related solutions.

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.

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