Suzlon Energy, Dredging Corporation of India, MIC Electronics and Ramco Systems hit the upper circuit, while Azad Engineering hit the lower circuit

On Wednesday, the BSE Sensex opened positively and is currently trading around the 74,000 level, up by 80 points. Meanwhile, the BSE Midcap index is trading flat at 43,163, on the other hand, the BSE Smallcap index rose by 85 points and is trading at 47,960 levels.

These five stocks with a market capitalisation of over ₹1,000 crore hit the upper circuit in the morning session.

Stocks hitting the upper circuit on Wednesday (May 22, 2024)

Shares of Suzlon Energy got locked in the 5% upper circuit at ₹46.23 after it bagged a new order of 402 MW from Juniper Green Energy. Under the order, Suzlon will install a total of 134 wind turbine generators (WTGs) with a Hybrid Lattice Tubular (HLT) tower and a rated capacity of 3 MW for both projects at the Suzlon proposed site at Fatehgarh in Rajasthan. The Suzlon Group is one of the leading renewable energy solutions providers in the world with approximately 20.5 GW of wind energy capacity installed across 17 countries. It has a market capitalisation of ₹62,900 crore. Over the past year shares of the company have soared by 398%.

Dredging Corporation of India stock is hitting back-to-back 5% upper circuit. It has announced it will hold a board meeting on May 29 to discuss and approve financial results for the fourth quarter and financial year that ended on March 31, 2024. Dredging Corporation of India is engaged in providing integrated dredging services to ports, the Indian Navy and other maritime organizations in India. It has a market capitalisation of ₹2,600 crore. Over the past year shares of the company have gained by 179%.

Shares of MIC Electronics got locked in 5% upper circuit at ₹54.67 on the second consecutive day. The company reported financial results for the fourth quarter end and financial year that ended on March 31, 2024. On a standalone basis for the fourth quarter, the company has reported a 538.50% growth in total income. In the same time frame, it has reported a 1941.16% surge in PAT. MIC Electronics is a global leader in the design, development and manufacturing of LED Video Displays, high-end Electronic and Telecommunication equipment and development of Telecom software since 1988. It has a market capitalisation of ₹1,211 crore. Over the past year shares of the company have surged by 217%.

The stock of Ramco Systems touched 5% upper circuit at ₹390.60. Yesterday the company reported financial results for the fourth quarter end and financial year that ended on March 31, 2024. On a consolidated basis for the fourth quarter, the company has reported a 3.17% growth in total income. In the same time frame, loss has narrowed down to ₹23 crore in Q4FY24 from ₹45.40 crore in Q4FY23. Ramco Systems is an enterprise software player having multi-tenant cloud and mobile-based enterprise software in HR and Global Payroll, ERP and M&E MRO for Aviation. It has a market capitalisation of ₹1,330 crore. Over the past year shares of the company have risen 68%.

Stocks hitting lower circuit on Wednesday (May 22, 2024)

Shares of Azad Engineering locked in a 5% lower circuit at ₹1,465.40 after the company reported financial results for the fourth quarter end and financial year that ended on March 31, 2024. On a consolidated basis for the fourth quarter, the company has reported a 6.29% growth in total income. In the same time frame, profit for Q4FY24 stands at ₹14.99 crore from ₹14.83 crore in Q4FY23. The investors were expecting better numbers from the company due to its business nature. For many trading days, the stock has been locked in the upper circuit due to positive investor sentiment. Yesterday, the company hit its new 52-week high and reported its results after market close. Azad Engineering is a manufacturer of aerospace components and turbines and supplies its products to original equipment manufacturers (OEMs) in the aerospace, defence, energy, and oil and gas industries. It has a market capitalisation of ₹8,660 crore. On a YTD basis, shares of the company have climbed by 114%.