These 4 stocks hit the circuits today: Nalwa Sons Investment, Motisons Jewellers, Arrow Greentech, and Reliance Power

As of 11.08 a.m. the benchmark, NIFTY50 is trading in the red, declining by 0.16% and SENSEX is almost flat down 0.06%, respectively. The Nifty Midcap 100 index and the Nifty Smallcap 100 index are trading in the red, decreasing by 0.64% and 0.48%, respectively.

On the NSE, 73 stocks hit the upper price band (Upper Circuit), and 29 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 Thursday (November 08, 2024)

Nalwa Sons Investment Ltd

The company holds significant investments in equity shares of OP Jindal Group of Companies. Therefore, the business prospects of the company largely depend on the business prospects of OP Jindal Group and the steel industry. According to the company, it will focus on making long-term strategic investments in various new ventures promoted by OP Jindal group, besides consolidating the existing investments through further investments in the existing companies.

Nalwa Sons has a market capitalisation of ₹3,600 crore. Over the past one year, the stock has rallied by 155%.

Motisons Jewellers Ltd

The company has divided its one share with a face value of ₹10 each into 10 shares of a face value of ₹1 each. A stock split is generally considered by a company to increase its outstanding shares, and also improve trading liquidity by making the stock more affordable to its shareholders.

Record date for the stock split has been fixed as Saturday, November 9, 2024.

A record date is the day on which a company determines which shareholders are eligible to benefit from the corporate action, whether it be a dividend, bonus, stock split or a share buyback.

Jaipur-based jewellery retail company Motisons has showcased strong growth in both revenue and profit in its latest quarterly earnings for Q2FY25. The company reported a 21% YoY increase in net sales to ₹109.34 crore, while net profit soared by 101% YoY to ₹10.40 crore.

Stocks hitting the lower circuit on Thursday (November 08, 2024)

Arrow Greentech Ltd

In Q2FY25 earnings, the performance of the high-tech business remained robust, and a noticeable increase in revenue contributions from Greentech products was observed. The quarter witnessed remarkable growth with revenue increasing by 123% YoY to ₹65 crore. EBITDA grew by an impressive 192% to ₹26 crore, and Profit After Tax surged from ₹5 crore in Q2FY24 to ₹19 crore in Q2FY25.

Arrow Greentech is a leading manufacturer of Water Soluble Films in India. In the last 12 months, the share prices have rallied over 121%. The company has a market capitalisation of ₹1,572 crore.

Reliance Power Ltd

Reliance Power faces stringent action after its subsidiary Reliance NU BESS Limited while submitting a bid to SECI submitted an alleged fake endorsement of bank guarantee against EMD (issued by a foreign bank) which was arranged by a third party.

However, the company in exchange filing clarified that Reliance Power and its subsidiaries acted bonafidely and have been victims of fraud, forgery and cheating conspiracy. Additionally, Reliance Power has lodged a criminal complaint in this regard has already been lodged with the Economic Offense Wing of Delhi Police against the third party on October 16, 2024, and it intends to follow due process of law. Also, Reliance Power informed that it will take all appropriate legal steps to challenge the unwarranted action of SECI in the interest of its more than 40 lakh shareholders.

Reliance Power has been established to develop, construct and operate power projects in India and internationally. The company has a market capitalisation of ₹16,700 crore and over the past one year, the shares have surged by 103%.