These 5 stocks hit the circuits today: ITI, Marine Electricals, The Investment Trust of India, Sterling and Wilson Renewable and Akums Drugs and Pharmaceuticals

The benchmark, NIFTY50 closed over 1.2% . The Nifty Midcap 100 index closed down 2.79% and the Nifty Smallcap 100 index is down by 2.8%.

On the NSE, only 36 stocks hit the upper circuit, however, 156 stocks hit the 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 Wednesday (November 13, 2024)

ITI Ltd

ITI Ltd informed on November 10th that it emerged as the Lowest Bidder (L1) for Three Packages of BharatNet Phase-3 Project for a total value of ₹4,559 crore. Since then the stock price of ITI Ltd shares has rallied over 15%.

As the L1 bidder, ITI Ltd will undertake Package No 15, which covers the northeastern states of Arunachal Pradesh, Nagaland, and Manipur, valued at ₹1,537 crore. It was also awarded Package No 8 for Himachal Pradesh and Package No 9 for West Bengal and the Andaman and Nicobar Islands, bringing the combined value of these packages to ₹3,022 crore.

The project is expected to strengthen ITI’s position as a key player in India's digital infrastructure expansion.

ITI Ltd has a market capitalisation of ₹29,000 crore. Over the past one year, the stock has rallied by 8%.

Marine Electricals Ltd

For Q2FY24 Marine Electricals reported a revenue from operations of ₹184 crore up 34.07% YoY and a jump in net profit of 160% YoY to ₹13 crore. At the operating level, the margin improved substantially to 12% from 7% in the corresponding quarter previous year.

Marine Electricals is engaged in providing integrated technical services in electrical automation and ICT solutions catering to sectors like shipbuilding, the Navy, and industries. Its current market cap is ₹3,125 crore and in the last one year share has delivered a 169% return.

The Investment Trust of India Ltd

In Q2 Investment Trust of India's net profit rose 97.48% to ₹20.38 crore as against ₹10.32 crore during the previous quarter ended Q2FY24. Sales rose 45.35% to ₹111.19 crore versus the corresponding quarter of the previous year of ₹76.5 crore.

Investment Trust of India Ltd is engaged in advisory services and trading activities besides holding investments in subsidiaries. The Group business consists of equity and commodity broking, mutual funds, financial services, lending business, investment banking and third-party distribution activities. Over the past one year, the stock has rallied by 123%.

Stocks hitting the lower circuit on Wednesday (November 13, 2024)

Sterling and Wilson Renewable Ltd

Renewable energy stocks have tumbled since the November 2024 US election paved the way for the return of Donald Trump as U.S. President. Trump in his victory speech pledged to halt renewable energy projects from his first day in office.

Renewable energy stocks, particularly in the solar sector, have taken a hit as the future of solar module exports to the U.S. could grow uncertain if the Trump administration moves to limit demand for renewable energy imports.

In Q2FY25’s earnings, Sterling and Wilson Renewable net profit grew 115.7% YoY to ₹8.5 crore, compared to a loss of ₹54.5 crore a year ago. Net sales rose 35.7% to ₹1,030.5 crore during the period as against ₹7,59.5 crore in the corresponding quarter previous year.

Akums Drugs and Pharmaceuticals Ltd

The fall in shares came after the Q2 earnings of the company reported a weak operational performance. In Q2FY25, the company’s EBITDA declined 28% YoY) at ₹134.7 crore. Margins contracted 290 bps to 12.9% from 15.8% in Q2FY24. The company’s revenue decreased 12.5% YoY to ₹1,033 crore. Profit after tax (PAT) was up 9% YoY at ₹66.7 crore.

The company’s management said Q2 was a challenging quarter faced with continued sluggish demand, despite that the company was able to grow on a QoQ basis at revenue, EBITDA and PAT levels.

Akums Drugs' profitability continues to be vulnerable to pricing pressure as it is present in a very competitive industry as well as fluctuations in raw material prices. However, the contract manufacturing business has generated stable operating profit margins over the past few years.