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  5. Endurance Technologies, Azad Engineering and Sanofi India hit the upper circuit, while E2E Networks hit the lower circuit today

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Endurance Technologies, Azad Engineering and Sanofi India hit the upper circuit, while E2E Networks hit the lower circuit today

Upstox
By Upstox News Desk

4 min read | Updated on June 14, 2024, 12:49 IST

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SUMMARY

On Friday, the Nifty50 index traded at 23,451.40, currently up by 0.22%. Endurance Technologies hit a 20% upper circuit while Azad Engineering and Sanofi India touched the 5% upper circuit. E2E Networks drowned to hit a 5% lower circuit.

Stock list

ENDURANCE
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AZAD
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SANOFI
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Suzlon Energy, Dredging Corporation of India, MIC Electronics and Ramco Systems hit the upper circuit

Endurance Technologies, Azad Engineering and Sanofi India hit the upper circuit, while E2E Networks hit the lower circuit today

Today, the Nifty50 index and Sensex are both trading in green. The Nifty50 index and Sensex have advanced by 0.22% and 0.13%, respectively. Nifty Midcap 100 and Nifty Smallcap 100 indices traded with gains of over 0.64% and 0.75%, respectively.

In the morning session on Friday, on NSE, 93 stocks hit the upper price band (Upper circuit) and 15 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 Friday (June 14, 2024)

Endurance Technologies Ltd

Shares of Endurance Technologies hit 20% upper circuit at ₹3,059.20 in the early morning session of Friday. The company announced that it will hold a group meeting with Analysts/Institutional Investors which has been scheduled on June 19, 2024, at some of the manufacturing facilities of the company.

For FY24 the company reported 20.16% growth in net sales and for the same time frame, it reported 54% growth in PAT. Endurance Technologies is engaged in the business of manufacturing and selling aluminium die casting (including alloy wheels), suspension, transmission and braking products with operations spread across India. It has a market capitalization of ₹38,700 crore and over the past year shares of the company have increased by 79%.

Azad Engineering Ltd

Azad Engineering shares got locked in the 5% upper circuit at ₹1,797.60 today. The company 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.

In December 2023, the company launched its initial public offering (IPO). Year-to-date (YTD), the company's return is 163%. 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 ₹10,600 crore.

Sanofi India Ltd

Sanofi India shares got locked in the 5% upper circuit at ₹6,838.70. Sanofi India is engaged in the business of manufacture and sale of pharmaceutical products. Sanofi has strategic partnerships with key players in the pharmaceutical business Emcure and Cipla for different products. On Thursday, the stock turned ex-date for the demerger of its consumer healthcare business. On May 10, 2023, Sanofi India's board approved the demerger of its Consumer Healthcare business into a new entity. This move was aimed to unlock greater value by allowing the consumer healthcare business to build sustainable growth models.

The company is currently trading a PE of 27.8x against the industry PE of 44.8 and a year median PE of 17.9x. It has a market capitalization of ₹15,750 crore and over the past year shares of the company have increased by 53%.

Stocks hitting lower circuit on Friday (June 14, 2024)

E2E Networks Ltd

On the second consecutive day, shares of E2E Networks got locked in a 5% lower circuit at ₹1,739.40. E2E Networks stock was seen hitting back-to-back upper circuits from the past month. In the last one month, the share price has increased by over 70% and in the last six months it has increased by over 175%. However, the stock took a U-turn after hitting a new 52-week high of ₹2,000 in yesterday morning session. The lower circuit can be attributed to profit booking among the investors after the stock soared to new highs.

E2E Networks is an NSE-listed AI-focused hyperscale cloud platform, offering advanced cloud GPUs and a comprehensive ecosystem of cloud technologies designed for the development and deployment of AI/ML applications. It has a market capitalisation of ₹2,650 crore.

About The Author

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