Suzlon Energy and Azad Engineering hit the upper circuit on Monday while Premier Explosives and Swan Energy hit the lower circuit

Domestic equity bourses NIFTY50 index and SENSEX were seen trading in the red on Monday. However, they managed to recover from the lower levels. As a result, both the frontline indices were seen trading with minuscule losses of 0.11% and 0.08%, respectively. Similarly, the broader markets recovered from lower levels and Nifty Midcap 100 index has eked out modest gains.

In the morning session on Monday, on NSE, 106 stocks hit the upper price band (Upper circuit) and 57 stocks hit the lower price band (Lower Circuit).

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 Monday (June 24, 2024)

Suzlon Energy Ltd

As of Q3FY24, the company order book stands at 3,157 MW. Suzlon is one of the leading global renewable energy solutions providers. It is a vertically integrated WTG manufacturer and has a market capitalization of ₹69,000 crore. Over the past year shares of the company have gained by 298%.

Azad Engineering Ltd

In December 2023, the company launched its initial public offering (IPO). Year-to-date (YTD), the company's return is 184%. The company operates in a technologically advanced industry that is crucial to many key sectors. It has effectively reduced its debt by converting high-cost Compulsorily Convertible Debentures (CCDs) and utilising IPO proceeds, resulting in significantly lower quarterly finance costs in Q4FY24. These non-recurring costs related to high-cost CCDs will normalise from Q1FY25. In the long-term, the company expects its EBITDA to remain sustainable between 33% to 37% based on product and revenue mix. It has a market capitalization of ₹11,500 crore.

Stocks hitting lower circuit on Monday (June 24, 2024)

Premier Explosives Ltd

Premier Explosives is engaged in the manufacturing of industrial explosives and detonators. It also undertakes operation and maintenance (O&M) services of solid propellant plants at the Sriharikota Centre of ISRO and Solid Fuel Complex at Jagdalpur under the umbrella of DRDO.

Over the past three months shares of the company have increased by 186%. The lower circuit can be attributed to profit booking among the investors after the stock soared to new highs. The company has a market capitalisation of ₹4,550 crore.

Swan Energy Ltd

The company has not been performing well since it declared its financial results. Though the company has shown a 50.10% increase in total revenue, a decline of 10.54% in its net profit for Q4FY24 compared to Q4FY23 led to disappointment. Over the past one month shares of the company have remained flat and seen a change of 0.02% increase in its share value. Over the past year it has seen an increase of 132%. It has a market capitalisation of ₹19,700 crore.