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  5. VL E-Governance & IT Solutions, Transformers & Rectifiers India, Diamond Power Infrastructure and Wockhardt hit the upper circuit today

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VL E-Governance & IT Solutions, Transformers & Rectifiers India, Diamond Power Infrastructure and Wockhardt hit the upper circuit today

Upstox
By Upstox News Desk

4 min read | Updated on October 14, 2024, 14:09 IST

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SUMMARY

On Monday, the NIFTY50 index traded in the green near the 25,100 level. VL E-Governance & IT Solutions, Transformers & Rectifiers India, Diamond Power Infrastructure and Wockhardt hit the 5% upper circuit today.

Stock list

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VL E-Governance & IT Solutions, Transformers & Rectifiers India, Diamond Power Infrastructure and Wockhardt hit the upper circuit today

VL E-Governance & IT Solutions, Transformers & Rectifiers India, Diamond Power Infrastructure and Wockhardt hit the upper circuit today

Domestic equity bourses, NIFTY50 and SENSEX, are trading in the green, advancing by 0.54% and 0.52%, respectively. The Nifty Midcap 100 index is trading in the red declining by 0.11% and Nifty Smallcap 100 index was trading positively, up by 0.14%.

On the NSE, 98 stocks hit the upper price band (Upper Circuit), and 47 stocks hit the lower price band (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 Monday (October 14, 2024)

VL E-Governance & IT Solutions Ltd

Shares of VL E-Governance & IT Solutions (VL E-Governance) hit the 5% upper circuit at ₹179.65 in the early morning session of Monday. This comes after the company reported an acquisition update on Friday after the market closed.

VL E-Governance & IT Solutions Limited has entered into a binding term sheet with Edgewood Technologies Private Limited, Bangalore for the acquisition of a 14% equity stake in HAL-Edgewood Technologies Private Limited (HETL). Earlier VL E-Governance also entered into a binding term sheet with Edgewood Ventures LLC, USA for the acquisition of a 26% equity stake in HETL. Post completion of both these binding term sheets, VL E-Governance shall hold a 40% equity stake in HETL subject to regulatory and requisite approvals.

Incorporated in 2016, VL E-Governance is in the business of E-Governance & IT/ITES Business (B2B). The company has a market capitalisation of ₹1,850 crore. Over the past year, its shares have delivered a return of 444%.

Transformers & Rectifiers India Ltd

Transformers & Rectifiers India shares were locked in the 5% upper circuit at ₹816.95 in the early morning session of Monday. The company declared strong financial results for Q2FY25 last Thursday since then it is locking in the upper circuit. On a consolidated basis for Q2FY25, the company reported an 83.37% increase in total income from ₹258.12 crore in Q2FY24 to ₹473.31 crore. PAT has increased by 2329.10% from ₹1.89 crore in Q2FY24 to ₹45.91 crore. As of September 30, 2024 company unexecuted order book stands at ₹3,500 crore.

Transformers and Rectifiers (India) manufactures power, furnace and rectifier transformers. The company has a market capitalisation of ₹12,250 crore. Over the past year, its shares have delivered a return of 369%.

(₹ in crores)Growth
ParticularsQ2FY25Q1FY25Q2FY24YoYQoQ
Total Income473.31326.03258.1283.37%45.17%
PAT45.9120.831.892329.10%120.40%

Diamond Power Infrastructure Ltd

In the early morning session of Monday shares of Diamond Power Infrastructure hit the third consecutive day 5% upper circuit at ₹1,580.10. On October 9, the company reported receiving a letter of intent worth ₹109.38 crore from Swastika Infra Private Limited for the supply of power cables. Swatika Infra is a contractor of Madhya Gujarat Vij Company Limited. The firm is to supply 240 square millimetres long XLPE Al 3 core cables of 11 kilovolts for a project under MGVCL's schemes. The contract is to be executed by March 2025.

Additionally, the company is set to hold a Board of Directors meeting on Tuesday, October 15, 2024, to consider and approve subdivision/stock split of equity shares of the company.

Diamond Power Infrastructure is engaged in the business of manufacturing, transmission and distribution of power products and services in India. The company has a market capitalisation of ₹8,300 crore. Over the past year shares of the company have skyrocketed by 2748%.

Wockhardt Ltd

Wockhardt Ltd stock got locked in the 5% upper circuit in the early morning session of Monday at ₹1,044.65. Wockhardt is a global pharmaceutical and biotechnology organisation engaged in manufacturing finished dosage formulations, injectables, biopharmaceuticals, orals and topicals (creams and ointments).

On Friday company reported that Wockhardt’s other novel antibiotic MiqnafTM (Nafithromycin) received a favourable recommendation from the Subject Expert Committee of Central Drugs Standard Control Organization (CDSCO) for the Treatment of Community-Acquired Bacterial Pneumonia (CABP).

Recently the company has reported that it got another breakthrough antibiotic. Recently, one of its unique once-a-day, β-lactam enhancer-based MDR-active antibiotic, WCK 6777 (Ertapenem/Zidebactam) has completed a Phase I study conducted by the National Institutes of Health, USA.

The company has a market capitalisation of ₹16,000 crore. Over the past year shares of the company have increased by 312%.

About The Author

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