Shakti Pumps, Transformers and Rectifiers, Websol Energy System among key stocks to hit upper circuit today; here’s why

Domestic equity bourses, NIFTY50 and SENSEX, are trading in the red, declining by 0.23% and 0.22%, respectively. The Nifty Midcap 100 index and the Nifty Smallcap 100 index are trading in the green, increasing by 0.33% and 0.73%, respectively.

On the NSE, 66 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 and lower circuits in today’s trading session.

Stocks hitting the upper circuit on Tuesday (November 26, 2024)

Shakti Pumps Ltd

Shakti Pumps Ltd hit the 5% upper circuit limit at ₹868.05 in the early morning session of Tuesday. Recently the company declared strong financial results for Q2FY25. It reported a 317.07% increase in total income from ₹153.53 crore in Q2FY24 to ₹640.32 crore. PAT has increased by 1,63.64% from ₹5.84 crore in Q2FY24 to ₹101.42 crore.

Additionally, the company has set November 11, 2024, as the Record Date for Bonus Shares in the ratio of 5:1, i.e., 5 new fully equity shares for every 1 existing equity share. As of September 30, 2024, the company order book stands at ₹1,800 crore.

Transformers And Rectifiers Ltd

Transformers and Rectifiers (India) Ltd manufactures Power, Furnace and Rectifier Transformers. The world’s First 420 kV ester fluid-filled shunt reactor was successfully designed and manufactured at TRIL. It has a market capitalisation of ₹15,128.36 crore.

Websol Energy System

Recently, the company declared strong financial results for Q2FY25. On a standalone basis, the total revenue for Q2FY25 stood at ₹143.55 crore, registering a growth of 28.63% on a QoQ basis. PAT for Q2FY25 stood at ₹41.98 crore, registering a growth of 1,162.78% as compared to the same quarter for the previous year and increased by 83.48% on a QoQ basis.

Websol Energy System Limited is engaged in the manufacturing of photovoltaic crystalline solar cells and related modules in India. The company specialises in producing photovoltaic crystalline solar cells and related PV modules. The company’s products are used in both commercial and industrial Solar Energy panels in India and internationally. It has a market capitalisation of ₹5,708 crore.

Akums Drugs & Pharmaceuticals

Shares of Akums Drugs & Pharmaceuticals locked in the 5% upper circuit limit at ₹705.70 in the early morning session of Tuesday. Recently, the company announced that it has entered into an exclusive Master Sales Agreement with Caregen Co. Ltd, a leading South Korean company in the Nutraceuticals segment. During the term of the agreement, Akums has been granted the exclusive rights to sell certain Caregen products in India.

Established in 2004, Akums Drugs and Pharmaceuticals is a pharmaceutical contract development and manufacturing organisation (CDMO) offering a comprehensive range of pharmaceutical products and services. It has a market capitalisation of ₹11,107 crore.

Kitex Garments Ltd

Today, shares of Kitex Garments hit the 5% upper circuit limit at ₹702.15 in the early morning session. Recently, the company held a meeting of the Board of Directors to consider the proposal for the declaration and recommendation of Bonus Equity Shares subject to the approval of shareholders. The company declared strong financial results for Q2FY25. It reported a 47.79% increase in total income from ₹148.17 crore in Q2FY24 to ₹218.98 crore. PAT has increased by 370.29% from ₹7.81 crore in Q2FY24 to ₹36.73 crore.

Kitex Garments was incorporated in 1992. The company exports cotton and organic cotton garments, especially infant wear to U.S. and European markets. The company has a market capitalisation of ₹4,200 crore.

Sabu Jacob, chairman and managing director of Kitex Garments, in their press release, stated that the turnover, which has reached ₹500 crore, is set to touch ₹1,000 crore in the current fiscal from ₹641 crore in the previous year with this growth momentum. The unrest in Bangladesh has contributed to the financial growth of not only Kitex Garments but the entire garment industry in India. The Telangana Phase I and II will be operational by 2025 and 2026. With this, the total capacity of Kitex will be increased by $0.5 billion.