VST Industries, MSP Steel & Power, SPML Infra and 63 Moons Technologies hit the upper circuit

Domestic equity bourses, NIFTY50 and SENSEX, were trading in the red, declining by 0.84% and 0.96%, respectively. Nifty Midcap 100 index and Nifty Smallcap 100 index are trading in the red, down by 1.06% and 0.68% respectively.

On the NSE, 77 stocks hit the upper price band (Upper Circuit), and 45 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 (September 06, 2024)

VST Industries Ltd

Shares of VST Industries were locked in the 20% upper circuit at ₹486.7 in the early morning session of Friday. The company had an ex-date for the issue of bonus shares in the ratio of 10:1.

VST Industries is engaged inter-alia in the manufacture and trading of Cigarettes, Tobacco and Tobacco products. The company has a market capitalisation of ₹8,200 crore and over the past year shares of the company have surged by 546%.

MSP Steel & Power Ltd

MSP Steel & Power stock hit the 5% upper circuit limit at ₹44.63 in the early morning session of Friday. The company reported that the 55th Annual General Meeting (AGM) will be held on Thursday, September 12, 2024.

Incorporated in 1968, MSP Steel & Power manufactures and sells iron and steel products and generation of power. The company has a market capitalisation of ₹1,700 crore and over the past year company shares have surged staggering by 256%.

SPML Infra Ltd

SPML Infra shares hit the 5% upper circuit at ₹264 in the early morning session of Friday. Yesterday the company reported that it entered into a settlement agreement with Power Grid Corporation of India under Vivad se Viswas II (Contractual Disputes) scheme for ₹25.06 crore.

Incorporated in 1981, SPML Infra is in the business of infrastructure development. The company has a market capitalisation of ₹1,550 crore and over the past year company shares have surged staggering by 585%.

63 Moons Technologies Ltd

Today, shares of 63 Moons Technologies hit the 5% upper circuit at ₹416.55 in the early morning session on Friday. The company has received a letter from NSEL Investors Forum (NIF) for an amicable OTS (one-time settlement) for the closure of litigation arising out of payment default by defaulters at the NSEL platform 11 years ago.

63 Moons Technologies is engaged in Computer Programming, Consultancy and related services. The company provides next-generation technology ventures, innovations, platforms, and solutions for creating digital markets and marketplaces that enable price discovery and transaction efficiencies across industry segments.

Its focus has always been towards providing technology solutions, building user-friendly financial platforms, and creating digital marketplaces in India and abroad. The company has a market capitalisation of ₹1,800 crore.

Stocks hitting the lower circuit on Friday (September 06, 2024)

Raymond Lifestyle Ltd

In the early morning session of Friday shares of Raymond Lifestyle got locked in the lower circuit limit of 5% at ₹2,707.50.

Raymond Lifestyle Ltd (RLL) the demerged textiles and apparel entity of Raymond Group, made its market debut at ₹3,020 per share on the NSE on September 5. However, company shares failed to hold the momentum and reversed gains in the first 30 minutes of trade. The stock retreated to hit its lower circuit at ₹2,869, down 5%. The listing price was a premium over the base price of ₹1,563 per share which was derived during a special trading session ahead of the listing.

Raymond shares started trading ex-RLL demerger on July 11, 2024. Under the scheme of the arrangement, Raymond shareholders will get four shares of Raymond Lifestyle for every five of Raymond (4:5).

The Raymond Group is net debt-free after it sold its FMCG business in FY24 for ₹2,825 crore. Both listed companies, Raymond and Raymond Lifestyle, shall now stand net debt-free. The Raymond Group would now have three core sectors: lifestyles under the new entity Raymond Lifestyle and real estate and engineering under Raymond.