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  5. Tinna Rubber, Paytm and Infrastructure and Marine Electricals (India) hit the upper circuit, while Dredging Corporation of India hit the lower circuit today

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Tinna Rubber, Paytm and Infrastructure and Marine Electricals (India) hit the upper circuit, while Dredging Corporation of India hit the lower circuit today

Upstox
By Upstox News Desk

4 min read | Updated on May 30, 2024, 14:03 IST

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SUMMARY

The Nifty50 index was seen trading near its day's low with a loss of 0.57% near 22,575 levels. Tinna Rubber and Infrastructure, Paytm and Marine Electricals (India) hit a 5% upper circuit, while Dredging Corporation of India hit a lower circuit.

Stock list

PAYTM
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MARINE
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DREDGECORP
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Suzlon Energy, Dredging Corporation of India, MIC Electronics and Ramco Systems hit the upper circuit

Tinna Rubber, Paytm and Infrastructure and Marine Electricals (India) hit the upper circuit, while Dredging Corporation of India hit the lower circuit today

The Nifty50 index and Sensex were seen trading down by 0.57% and 0.39%, respectively. Nifty Midcap 100 index traded lower by 0.47% and Nifty Smallcap 100 index was also trading lower by 0.74%.

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 Thursday (May 30, 2024)

Tinna Rubber and Infrastructure Ltd

Shares of Tinna Rubber and Infrastructure hit back-to-back 5% upper circuit after the company declared strong financial results on May 27. Today it got locked in the upper circuit at ₹1,363.95. For the first time, in the last 13 quarters, the company has clocked revenue of more than ₹100 crore. Profit after tax (PAT) more than doubled to ₹15.66 crore in the quarter ended March 2024. Additionally, the company board has recommended a final dividend of ₹2.

Tinna Rubber & Infrastructure is primarily engaged in the conversion of end-of-life tyres into crumb rubber and steel wires obtained in the process. It has a market capitalisation of ₹2,300 crore. In the last one year, shares of the company have surged by 439%.

Here is the table for financial results on a consolidated basis.
(₹ in crores)Growth
ParticularsMar-24Dec-23Mar-23YoYQoQ
Total Income110.3893.2676.0545.14%18.36%
PAT15.669.966.76131.66%57.23%

One97 Communications (Paytm)

The stock of One97 Communications, which owns Paytm brand, was locked at an upper circuit limit of 5% for the second consecutive day on Thursday. The stock has been in the news after reports surfaced stating that the Adani Group was considering buying a stake in the company. Later on, the company issued a clarification stating that the report was speculation.

Shares of Paytm have fallen by 62.20% from its 52-week high and in the last month the stock has declined by 1.38%. The recent rise in the stock has led to the market capitalisation inching closer to a milestone of ₹24,000 crore. Currently, the stock is trading above its 20-DMA and on NSE over 14 lakh shares have been traded.

Marine Electricals (India) Ltd

On Thursday shares of Marine Electricals (India) are locked in 5% upper after the company declared strong financial results yesterday. The company's total income showed a rise of 67% compared to last year's same quarter. For the first time, it has crossed ₹200 crore mark in a single quarter in the last 13 quarters. The company's PAT has seen a rise of over 200% for Q4FY24. Interestingly for the first time in the last 13 quarters, it has reported PAT in double digits in a single quarter.

Marine Electricals (India) is an integrated technical services provider in the fields of electrical automation and information and communication technology solutions. It has a market capitalisation of ₹1,400 crore. In the last one year, shares of the company have gained 110%.

Here is the table for financial results on a consolidated basis.
(₹ in crores)Growth
ParticularsMar-24Dec-23Mar-23YoYQoQ
Total Income240.59147.89144.2266.82%62.68%
PAT12.185.323.95208.35%128.95%

Stocks hitting lower circuit on Thursday (May 30, 2024)

Dredging Corporation of India Ltd

Dredging Corporation of India stock hit a 5% lower circuit on Thursday. On Wednesday, post-market hours, the company declared its financial results. Due to weak numbers, the stock got locked in a 5% lower circuit at ₹936.40 today.

Dredging Corporation of India is engaged in providing integrated dredging services to ports, the Indian Navy and other maritime organisations in India. It has a market capitalisation of ₹2,600 crore. Over the past year shares of the company have gained by 198%.

Here is the table for financial results.
(₹ in crores)Growth
ParticularsMar-24Dec-23Mar-23YoYQoQ
Total Income278.8266.23337.97-17.51%4.72%
PAT-23.3127.7-222.57--
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Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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