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Shakti Pumps, Reliance Power, Kernex Microsystems (India) and 63 Moons Technologies hit the upper circuit while Gopal Snacks hits the lower circuit
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6 min read | Updated on December 12, 2024, 14:18 IST
SUMMARY
In Thursday's early session, the NIFTY50 index traded in red above the 24,600 mark. Shakti Pumps, Reliance Power, Kernex Microsystems (India) and 63 Moons Technologies hit the 5% upper circuit while Gopal Snacks hit the 5% lower circuit.
Five stocks hit the circuits today: Shakti Pumps, Reliance Power, Kernex Microsystems (India) and 63 Moons Technologies hit the upper circuit while Gopal Snacks hit the lower circuit
Domestic equity bourses, NIFTY50 and SENSEX, are trading in the red declining by 0.12% and 0.01%, respectively. The Nifty Midcap 100 index and the Nifty Smallcap 100 index are trading in the red decreasing 0.07% and 0.24%, respectively.
On the NSE, 62 stocks hit the upper price band (Upper Circuit), and 29 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 Thursday (December 12, 2024)
Shakti Pumps Ltd
As of September 30, 2024, the company order book stands at ₹1,800 crore. Shakti Pumps (India) Ltd is primarily engaged in the manufacturing of pumps and motors of various kinds. It also offers advanced water pumping solutions for various applications such as irrigation, horticulture, domestic water supply, and commercial and industrial applications. Its brand "Shakti" is well-received in the domestic and international markets. It has a market capitalisation of ₹10,200 crore.
Reliance Power Ltd
As per the terms of the tender, Reliance NU Suntech will also have to install a minimum storage capacity of 465 MW/1,860 MWh charged by solar power. Reliance NU Suntech’s successful bid for SECI’s Tranche XVII auction was won at a tariff of ₹3.53 ($0.0416)/kWh. SECI will enter into a power purchase agreement (PPA) with Reliance NU Suntech for a period of 25 years and the solar power procured will be sold to multiple discoms in India.
Recently, Reliance Power got relief from the Delhi High Court granting a stay on the SECI notice of debarment against the company. including all its subsidiaries except Reliance NU BESS Limited (formerly known as Maharashtra Energy Generation Limited). Now the company is eligible to participate in all tenders issued by SECI.
The company has an operating portfolio of 5,300 megawatts, which includes 3960 megawatts Sasan Power Limited (the world's largest integrated coal-based power plant). Reliance Power has been established to develop, construct and operate power projects in India and internationally. The company has a market capitalisation of ₹18,500 crore.
Kernex Microsystems (India) Ltd
Recently Kernex Micro Systems (India) announced that it has been awarded a significant contract worth ₹2,041.04 crores by Chittaranjan Locomotive Works, Ministry of Railways, Government of India. This order involves the supply, installation, testing, and commissioning of 2,500 sets of onboard KAVACH equipment. The project, a vital step in advancing railway safety and modernization, is slated for completion within 12 months.
Additionally, the company declared strong financial results for Q2FY25. On a consolidated basis, Total Income for Q2FY25 stood at ₹41.48 crore, registering a growth of 2,384% on a YoY basis and 43.48% on a QoQ basis. PAT for Q2FY25 stood at ₹6.81 crore, compared to a net loss of ₹4.53 crore in the same quarter last year. The company has a market capitalisation of ₹2,300 crore. Over the past six months shares of the company have skyrocketed by 287%.
| (₹ in crores) | Growth | ||||
|---|---|---|---|---|---|
| Particulars | Q2FY25 | Q1FY25 | Q2FY24 | YoY | QoQ |
| Total Income | 41.48 | 28.91 | 1.67 | 2383.83% | 43.48% |
| PAT | 6.81 | 3.57 | -4.53 | - | 90.76% |
63 Moons Technologies Ltd
63 Moons Technologies is engaged in Computer Programming, Consultancy and related services. The company provides next-generation technology ventures, innovations, platforms, and solutions for creating digital markets and marketplaces that enable price discovery and transaction efficiencies across industry segments. Its focus has always been towards providing technology solutions, building user-friendly financial platforms, and creating digital marketplaces in India and abroad. The company has a market capitalisation of ₹4,150 crore. Over the past six months shares of the company have surged by over 146%.
Stocks hitting the lower circuit on Thursday (December 12, 2024)
Gopal Snacks Ltd
The company reported that Production activities have been scaled up at Modasa and Nagpur facilities to compensate for the current closure of the Rajkot I facility. Additionally, the Company is engaging with third-party manufacturers to the extent that additional local capacity is required. The company’s assets are fully insured, and the insurance provider has been notified of the incident.
Founded in 1999, Gopal Snacks is an FMCG company dealing in ethnic snacks, western snacks, and other products. The company is the largest manufacturer of Gathiya & Snack Pellets in India & largest manufacturer of Ethnic Namkeen in Gujarat. It has a total of six manufacturing facilities which includes three ancillary units in the country.
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