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  1. Suzlon Energy, Creative Newtech, Ravindra Energy and GTL Infrastructure, while Raymond Lifestyle hits the lower circuit today

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Suzlon Energy, Creative Newtech, Ravindra Energy and GTL Infrastructure, while Raymond Lifestyle hits the lower circuit today

Upstox

4 min read | Updated on September 11, 2024, 15:36 IST

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SUMMARY

On Wednesday, the NIFTY50 index traded in positive terrain near the 25,000 level. Creative Newtech hit the 20% upper circuit while Suzlon Energy, Ravindra Energy and GTL Infrastructure hit a 5% upper circuit. Raymond Lifestyle traded at a 5% lower circuit.

On the NSE, 84 stocks hit the upper price band (Upper Circuit), and 33 stocks hit the lower price band (Lower Circuit).

On the NSE, 84 stocks hit the upper price band (Upper Circuit), and 33 stocks hit the lower price band (Lower Circuit).

Domestic equity bourses, NIFTY50 and SENSEX, were trading in the green, advancing by 0.09% and 0.10%, respectively. Nifty Midcap 100 index and Nifty Smallcap 100 index are also trading positively, up by 0.35% and 0.28%, respectively.

On the NSE, 84 stocks hit the upper price band (Upper Circuit), and 33 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 Wednesday (September 11, 2024)

Suzlon Energy Ltd

Today, shares of Suzlon Energy were locked in the 5% upper circuit at ₹81.95 in the early morning session. This comes after the company announced it has won India's largest wind energy order of 1,166 MW from NTPC Green Energy Limited, the renewables arm of NTPC.

Suzlon will install a total of 370 wind turbine generators (WTGs) of S144 equipped with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3.15 MW each and the project is to be executed across 3 sites in Gujarat. This win takes Suzlon’s largest‐ever cumulative order book close to 5 GW as of September 03, 2024.

Suzlon is one of the leading global renewable energy solutions providers. It is a vertically integrated WTG manufacturer. It also undertakes installation and O&M of all WTG sales. The company has a market capitalisation of ₹1,12,000 crore. In the last one year, shares of the company have surged 240%.

Creative Newtech Ltd

Shares of Creative Newtech were locked in the 20% upper circuit at ₹914.10 in the early morning session of Wednesday. Incorporated in 1992, Creative Newtech is a distributor of I.T, Imaging, Lifestyle and Security of branded products.

The meeting of the Board of Directors of the company is set to be held on September 30, 2024. The company has a market capitalisation of ₹1,290 crore and over the past year company shares have surged by 70%.

Ravindra Energy Ltd

Ravindra Energy stock got locked in the 5% upper circuit at ₹99.58 in the early morning session of Wednesday. The meeting of the Board of Directors of the company is set to be held today, where they will consider and approve the issue of equity shares or other securities on a preferential basis.

Incorporated in 1980, Ravindra Energy is in the business of selling Solar Pumps, setting up Solar Generation Power Plant (Ground Mount & Rooftop) & generation and sale of Power. The company has a market capitalisation of ₹1,530 crore and over the past year company shares have surged by 63%.

GTL Infrastructure Ltd

GTL Infrastructure shares hit the 5% upper circuit at ₹2.61. GTL Infrastructure provides passive telecom infrastructure sharing and energy management solutions. The company has a market capitalisation of ₹3,340 crore. Over the past year shares of the company have gained by 130%.

Stocks hitting the lower circuit on Wednesday (September 11, 2024)

Raymond Lifestyle Ltd

In the early morning session of Wednesday, shares of Raymond Lifestyle hit the lower circuit limit of 5% at ₹2,321.40.

Raymond Lifestyle Ltd (RLL), the demerged textiles and apparel entity of Raymond Group, made its market debut on the NSE at ₹3,020 per share on September 5. However, the stock quickly reversed gains within the first 30 minutes of trade, retreating to hit its lower circuit at ₹2,869, down 5%. Since then, the stock has consistently been locked in lower circuits during subsequent trading sessions. The listing price represented a premium over the base price of ₹1,563 per share, which was determined during a special trading session ahead of the listing. Raymond Lifestyle currently holds a market capitalisation of ₹14,500 crore.

Raymond shares started trading ex-RLL demerger on July 11, 2024. Under the scheme of the arrangement, Raymond shareholders will get four shares of Raymond Lifestyle for every five of Raymond (4:5).

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.

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