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  5. Six stocks hit the upper circuit today: E2E Networks, EPACK Durable, Pondy Oxides & Chemicals, Black Box, Indo Tech Transformers and Sequent Scientific

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Six stocks hit the upper circuit today: E2E Networks, EPACK Durable, Pondy Oxides & Chemicals, Black Box, Indo Tech Transformers and Sequent Scientific

Upstox
By Upstox News Desk

6 min read | Updated on November 05, 2024, 12:18 IST

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SUMMARY

On Tuesday, the NIFTY50 index traded in the red, below the 24,000 level. E2E Networks, EPACK Durable, Pondy Oxides & Chemicals, Black Box, Indo Tech Transformers, and Sequent Scientific hit the 5% upper circuit today.

Stock list

E2E
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EPACK
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POCL
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BBOX
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E2E Networks, EPACK Durable, Pondy Oxides & Chemicals, Black Box, Indo Tech Transformers and Sequent Scientific hit the upper circuit today

Stocks like E2E networks, EPACK Durable, Pondy Oxides & Chemicals have given multifold returns with E2E networks leading the pack

Domestic equity bourses, NIFTY50 and SENSEX, are trading in the red, declining by 0.07% and 0.05%, respectively. The Nifty Midcap 100 index and the Nifty Smallcap 100 index are trading in the red, declining by 0.39% and 0.22%, respectively.

On the NSE, 87 stocks hit the upper price band (Upper Circuit), and 24 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 05, 2024)

E2E Networks Ltd

E2E Networks stock was locked in the 5% upper circuit and all-time high at ₹4,977.50 in the early morning session of Tuesday. Today, before the market opening, the company reported that L&T acquired a 21% stake worth ₹1,079 crore.

The investment will take place via preferential allotment for a 15% stake in E2E Networks, comprising 29.79 lakh equity shares of E2E Networks, which carry a face value of ₹10, at a price of ₹3,622.25 apiece for an aggregate amount of ₹1,079 crore. The issue price is at a discount of nearly 24% to Monday's closing price of E2E Networks.

Investment via secondary acquisition of a 6% stake from the founder for a total investment of ₹328 crore. The secondary stake will be purchased at a price of ₹2,750 per share, which is a discount of 43% from Monday's closing price of E2E Networks.

Earlier, the company declared strong financial results for Q2FY25. It reported a 119.55% increase in total income from ₹22.05 crore in Q2FY24 to ₹48.41 crore. PAT has increased by 109.84% from ₹5.79 crore in Q2FY24 to ₹12.15 crore.

Ace Investor Ashish Kacholia's name appeared in the company's shareholding. He holds a 1.05% stake in the company, which was revealed in the second quarter filing of FY25. On October 25, the company reported that it was the first company to bring NVIDIA H200 Tensor Core GPUs to the Indian market.

A few months back, the company successfully closed a strategic investment round, securing ₹420.51 crore through a preferential issue of equity shares. E2E Cloud is a MeitY-empanelled AI-focused cloud provider. E2E Networks has a market capitalisation of ₹8,400 crore. Over the past one year, the stock has gained significantly by 825%.

(₹ in crores)Growth
ParticularsQ2FY25Q1FY25Q2FY24YoYQoQ
Total Income48.4141.6722.05119.55%16.17%
PAT12.1510.145.79109.84%19.82%

EPACK Durable Ltd

EPACK Durable shares were locked in the 5% upper circuit at ₹472.30 in the early morning session of Tuesday. A few days back, the company reported that it joined forces with Hisense India to manufacture air conditioners and home appliances for the world in India.

Hisense has contracted EPACK Durable to set up an advanced dedicated manufacturing facility in India to produce Hisense's range of Air conditioners and Home Appliances. EPACK Durable will immediately invest, firstly, in a new manufacturing facility in Sricity (Andhra Pradesh) with a capacity of 1 million RACs by FY27-28, with initial production set to begin in June 2025. This strategic cooperation agreement with Hisense is likely to garner additional revenue of approximately $1 billion over the next 5 years for EPACK Durable and its subsidiary.

Incorporated in 2019, EPACK Durable is an Original Design Manufacturer (ODM) of room air conditioners (RAC). It stands second in production volumes for Room Air-conditioners. The company has a market capitalisation of ₹4,500 crore. Over the past six months, the stock has gained 148%.

Pondy Oxides & Chemicals Ltd

Shares of Pondy Oxides & Chemicals (POCL) were locked in the 5% upper circuit limit in the morning session of Tuesday at ₹1,035.95. The company declared upbeat financial results for the Q2FY25 and H1FY25. Consolidated revenue from operations has increased to ₹1,024 core, up 42% (YoY) on a half-yearly basis and to ₹579 crore up 46% (YoY) & 30% (QoQ) on a quarterly basis. Consolidated PAT more than doubled and increased to ₹28 crore up 188% (YoY) on a half-yearly basis and to ₹15 crore up 168% (YoY) on a quarterly basis. PAT Margins increased to 3%.

POCL has invested ₹50 crore in Capex during H1FY25. The board of the company also approved the raising of funds for an aggregate amount not exceeding ₹250 crore through Qualified Institutional Placement (QIP) in one or more tranches. A few days back the company had a record date for share split. Face Value Split (Sub-Division) from ₹10 per share to ₹5 per share.

Incorporated in 1995, Pondy Oxides and Chemicals manufactures lead metal and alloys and other non-ferrous metals. The company has a market capitalisation of ₹2,700 crore and has increased its shares by 351% over the past year.

Black Box Ltd

Black Box stock hit a 5% upper circuit at ₹527.80 in the early morning session of Tuesday. Black Box is a global digital infrastructure integrator offering connectivity and network solutions, data centre solutions, modern workplace solutions, and cybersecurity solutions.

Recently the company reported that its promoters Essar Telcom Limited pledge shares of 6.34% of the company Black Box has been released. Company order book increased to $475 million on June 30, 2024. The company has a market capitalisation of ₹8,600 crore. Over the past one year shares of the company have surged by 107%.

Indo Tech Transformers Ltd

Indo Tech Transformers shares were locked in a 5% upper circuit at ₹2,448.70 in the early morning session of Tuesday. Indo Tech Transformers manufactures power and distribution transformers, various special application transformers, mobile substation transformers, and substations. The company has a market capitalisation of ₹2,600 crore. Over the past year, its shares have increased by 366%.

Sequent Scientific Ltd

Shares of Sequent Scientific got locked in the 5% upper circuit at ₹211.07 in the early morning session of Tuesday. Sequent Scientific is India's leading animal health company with a presence in 5+ continents across 100 countries. Sequent Scientific provides a wide-ranging portfolio of animal health products, including Finished Dose Formulations, APIs, and analytical services to the pharmaceutical and life sciences industries.

It has a market capitalisation of ₹5,200 crore. Over the past year, the company's shares have gained by 110%.

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