Waaree Technologies, Jyoti Structures and Wonder Electricals hit the lower circuit, while Dynacons Systems & Solutions hit the upper circuit

On Wednesday, the BSE Sensex opened at a lower level. Currently, it is trading at the 73,121 mark, down by 388 points. In the early morning trade, most companies are trading negatively. The BSE Midcap index is hovering at 41,245 while the BSE Smallcap index is trading at 46,011.

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

Stocks hitting the upper circuit on Wednesday (May 8, 2024)

Dynacons Systems & Solutions Ltd

Dynacons Systems & Solutions locked in a 10% upper circuit at ₹1,267.50 majorly due to results anticipation. Dynacons Systems & Solutions provides IT infrastructure-related activities. It has a market capitalisation of ₹1,611 crore. In the last one year, shares of the company have surged by 237.42%.

Stocks hitting lower circuit on Wednesday (May 8, 2024)

Waaree Technologies Ltd

After announcing its financials for the half-year ending and the financial year end of 2024 on May 3, shares of Waaree Technologies have been consistently hitting lower circuits. Previously the company experienced consecutive upper circuits due to results anticipation. However, on May 3, after announcing its results, the stock started hitting lower circuits and continued the fall. It has reported a net loss of ₹5.51 crore for the half year ended on March 31, 2024, compared to a net loss of ₹1.24 crore in the half year ended on March 31, 2023. Waaree Technologies does trading of e-vehicles, batteries and artificial intelligence-based products/services. It has a market capitalisation of ₹1,805 crore.

Jyoti Structures Ltd

Shares of Jyoti Structures touched a 5% lower circuit since it got approval for Rights Issue for an aggregate amount not exceeding ₹175 crore. The company has considered and approved the allotment of 11,64,20,710 equity shares at a price of ₹15 per equity share including a premium of ₹13 per share. Today it got locked at a lower circuit of ₹24.54. The company is engaged in electricity transmission, distribution and substation. It has a market capitalisation of ₹2,047 crore.

Wonder Electricals Ltd

Shares of Wonder Electricals are locked in the lower circuit limit of 5% today at ₹1,071. Over the past one month, the stock has seen volatility after it has surged 226.18% over the past 3 months. On the valuation front, the company is highly overvalued and this could be one of the reasons for dampening investor sentiment and volatility. Currently, the company is trading at an RSI of 65.2. The company has scheduled a meeting of the Board of Directors to be held on May 15. Wonder Electricals is a fully integrated end-to-end manufacturer and supplier of ceiling fans, exhaust fans, pedestal fans and brushless DC (BLDC) fans. It has a market capitalisation of ₹1,435 crore.