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Sky Gold, Marine Electricals (India) and Walchandnagar Industries hit the upper circuit while Genus Power Infrastructures hit the lower circuit
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3 min read | Updated on July 10, 2024, 18:39 IST
SUMMARY
On Wednesday, the NIFTY50 index traded in negative terrain below the 24,200 level. Sky Gold, Marine Electricals (India) and Walchandnagar Industries hit a 5% upper circuit, while Genus Power Infrastructures trended lower hitting a 5% lower circuit.
Sky Gold, Marine Electricals (India) and Walchandnagar Industries hit the upper circuit while Genus Power Infrastructures hit the lower circuit
Domestic equity bourses, NIFTY50 and SENSEX, were trading in the red on Wednesday, both indices declined over 1%. Nifty Midcap 100 index and Nifty Smallcap 100 index are also in the negative zone, falling by 1.53% and 1.86%, 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 Wednesday (July 10, 2024)
Sky Gold Ltd
Sky Gold is engaged in the business of designing, manufacturing, and marketing gold jewellery. It has a market capitalisation of ₹2,800 crore. In the last one year, the shares of the company have given staggering returns of over 666%.
Marine Electricals (India) Ltd
Recently, the company reported receiving an order amounting to approximately ₹50 crore from DC Development Hyderabad Ltd, for the supply of FIM LV Panels and Skid for HYD20 expansion (DC 2 & 3) 28.8 MW. The delivery is expected to take place over 20 months. The company has a market capitalisation of ₹2,880 crore. In the last one month shares of the company have increased by 94% and over the one year it has given returns of 307%.
Walchandnagar Industries Ltd
The share price was triggered by a technical breakout. The scrip decisively crossed a resistance level of around ₹303, which could signal the start of an upward trend if sustained. This positive move was accompanied by increased trading volume, suggesting strong buying pressure from investors. The company is holding a Board Meeting on July 15, 2024, for the issuance of Unlisted, Secured, Redeemable, and Non-Convertible Debentures aggregating to ₹74 crore. The company has a market capitalisation of ₹1,800 crore.
Stocks hitting the lower circuit on Wednesday (July 10, 2024)
Genus Power Infrastructures Ltd
The stock on the daily chart has formed a bearish engulfing pattern after an up-move. The formation of a bearish engulfing pattern at the highs after a surge in the stock price is an ominous sign.
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