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  5. Sky Gold hit the upper circuit while KPI Green Energy, Raymond, Shakti Pumps (India) and Servotech Power Systems hit the lower circuit

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Sky Gold hit the upper circuit while KPI Green Energy, Raymond, Shakti Pumps (India) and Servotech Power Systems hit the lower circuit

Upstox
By Upstox News Desk

4 min read | Updated on July 19, 2024, 17:31 IST

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SUMMARY

On Friday, the NIFTY50 index opened at a fresh all-time high of 24,853.80 but soon was dragged to near 24,700 levels. Sky Gold hit the 5% upper circuit while KPI Green Energy, Raymond, Shakti Pumps (India) and Servotech Power Systems hit the 5% lower circuit.

Stock list

SKYGOLD
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RAYMOND
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KPIGREEN
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SHAKTIPUMP
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SERVOTECH
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Sky Gold hit the upper circuit while KPI Green Energy, Raymond, Shakti Pumps (India) and Servotech Power Systems hit the lower circuit

Sky Gold hit the upper circuit while KPI Green Energy, Raymond, Shakti Pumps (India) and Servotech Power Systems hit the lower circuit

Domestic equity bourses, NIFTY50 and SENSEX, were trading in the red on Friday, declining by 0.52% and 0.37%, respectively. Nifty Midcap 100 index and Nifty Smallcap 100 index alson plunged by 1.67% and 1.80%, respectively.

Here is the list of stocks (market cap above ₹1,000 crore) locked in upper and lower circuits in today’s trading session.

Stocks hitting the upper circuit on Friday (July 19, 2024)

Sky Gold Ltd

Sky Gold stock hit a 5% upper circuit in the early morning session of Friday at ₹1,991.35. After the company held their first Extraordinary General Meeting (EGM) on July 12, 2024, the stock was locked in lower circuits.

In the last one year, the shares of the company have given staggering returns of over 630%. Sky Gold is engaged in the business of designing, manufacturing, and marketing gold jewellery. It has a market capitalisation of ₹2,600 crore.

Stocks hitting the lower circuit on Friday (July 19, 2024)

KPI Green Energy Ltd

After hitting back to back upper circuit from past few trading sessions, today KPI Green Energy got locked in the lower circuit band of 5% at ₹1,016.80 in the early morning session of Friday. Yesterday the company had the record date for the stock split. The company earlier had a face value of ₹10 which will have been split into 2 equity shares having a face value of ₹5.

KPI Green Energy is a Gujarat-based company specialising in renewable energy solutions. They develop, build, own, and operate solar power plants, both as Independent Power Producers (IPP) and Captive Power Producers (CPP). It has a market capitalisation of ₹12,250 crore. Over the past year, shares have soared by 266%.

Raymond Ltd

In the early morning session of Friday, the stock price of India’s leading textile company Raymond got locked in the lower circuit limit of 5% at ₹2,090.80.

Recently, the company announced the demerger of its lifestyle business venture into Raymond Lifestyle (previously Raymond Consumer Care) and established the entitlement of the company's shareholders. Four equity shares of Raymond Lifestyle of ₹2 each, fully paid up, shall be issued and assigned to Raymond shareholders holding five equity shares of ₹10 each, fully paid up as of the record date. The lifestyle division is expected to be listed in the next two months. The demerger unlocked value for shareholders. After the news company saw a good momentum and hit back to back cricut, but after a run-up profit booking has emerged which resulted in stock hitting a lower circuit.

The Raymond Group is net debt-free after it sold its FMCG business in FY24 for ₹2,825 crore. Both listed companies, Raymond and Raymond Lifestyle, shall now stand net debt-free. The Raymond Group would now have three core sectors: lifestyles under the new entity Raymond Lifestyle and real estate and engineering under Raymond.

Shakti Pumps (India) Ltd

Today, shares of Shakti Pumps (India) hit a 5% lower circuit at ₹3,890.20. The company has been trending higher since it reported strong financials for Q4FY24 and the financial year end of 2024. It reported a net profit of ₹89.7 crore for Q4FY24 compared to ₹2.2 crore in Q4FY23; while in Q3FY24 it had a profit of ₹45.2 crore.

The company is set to hold board meeting scheduled tomorrow July 20, 2024 to approve the financial results of the company for the quarter ended June 30, 2024. It has also set an analyst conference call on Monday, July 22, 2024.

Shakti Pumps (India) Ltd is primarily engaged in manufacturing pumps and motors of various kinds. It also offers advanced water pumping solutions to a wide range of applications such as irrigation, horticulture, domestic water supply, commercial and industrial applications. Over the past year, shares of the company have zoomed by 496%. It has a market capitalisation of ₹7,800 crore.

Servotech Power Systems Ltd

On Friday, the stock of Servotech Power Systems hit the 5% lower circuit at ₹111.18. Servotech Power Systems develops tech-enabled EV Charging solutions leveraging their over two decades of experience and expertise in the electronics space.

Recently, the company announced it has established a new subsidiary Servotech Sports and Entertainment Pvt. Ltd to foray into the sports line. It has taken a bold step towards diversification and expansion where the company will be dedicated to the sports sector, events and promotion. Currently, Servotech Power Systems has a market capitalisation of ₹2,480 crore.

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