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  5. Websol Energy System, Zen Technologies and Asian Energy Services hit the upper circuit

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Websol Energy System, Zen Technologies and Asian Energy Services hit the upper circuit

Upstox
By Upstox News Desk

5 min read | Updated on August 27, 2024, 14:27 IST

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SUMMARY

On Tuesday, the NIFTY50 index traded in positive terrain above 25,000 levels. Websol Energy System, Zen Technologies and Asian Energy Services hit the 5% upper circuit. Sakuma Exports hit the 10% lower circuit while Reliance Power hit the 5% lower circuit today.

Stock list

WEBELSOLAR
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ZENTEC
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ASIANENE
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SAKUMA
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RPOWER
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Websol Energy System, Zen Technologies and Asian Energy Services hit the upper circuit while Sakuma Exports and Reliance Power hit the lower circuit today

Websol Energy System, Zen Technologies and Asian Energy Services hit the upper circuit while Sakuma Exports and Reliance Power hit the lower circuit today

Domestic equity bourses, NIFTY50 and SENSEX, were trading in the green, both advancing by 0.06%. Nifty Midcap 100 index and Nifty Smallcap 100 index are in green increasing by 0.45% and 0.72%, respectively.

On the NSE, 94 stocks hit the upper price band (Upper Circuit), and 34 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 Tuesday (August 27, 2024)

Websol Energy System Ltd

Shares of Websol Energy System were locked in the 5% upper circuit at ₹952.70 in the early morning session of Tuesday. Websol Energy System is engaged in the business of manufacturing photovoltaic crystalline solar cells and related modules in India.

The company's financial results for Q1FY25 stand at ₹111.83 crore from ₹0.3 crore in Q1FY24. PAT has increased from a net loss of ₹5 crore in Q1FY24 to ₹22.88 crore. Q1FY25 was the company's first quarter where it has clocked revenue more than ₹100 crore and PAT more than ₹20 crore in the last 13 quarters.

(₹ in crores)Growth
ParticularsQ1FY25Q4FY24Q1FY24YoYQoQ
Total Income111.8325.690.337176.67%335.31%
PAT22.88-58.57-5--

Zen Technologies Ltd

On Tuesday, Zen Technologies stock hit the 5% upper circuit at ₹1,969.85. The company has successfully raised ₹1,000 crore through its first-ever Qualified Institutional Placement (QIP). The QIP launched on August 21, 2024, and closed on August 23, 2024. Key investors participating in this QIP include Kotak Mutual Fund, White Oak Offshore Fund, White Oak Mutual Fund, Motilal Oswal Mutual Fund, and Bandhan Mutual Fund, amongst others.

The company designs, develops, and manufactures combat training solutions and counter-drone solutions for defence and security forces. It is actively involved in the indigenization of technologies that benefit Indian armed forces, state police forces, and paramilitary forces. The company has a market capitalisation of ₹15,900 crore. Over the past year, its shares have climbed by 133%.

Asian Energy Services Ltd

Asian Energy Services stock hit the 5% upper circuit at ₹444.35 in the early morning session on Tuesday. The company has scheduled a board meeting to be held today to consider fundraising by way of issue of equity shares or securities or convertible warrants on a preferential basis.

Recently the company has declared financial results for Q1FY25. In the quarter, it reported a 26.11% increase in total income from ₹48.76 crore in Q1FY24 to ₹61.49 crore. PAT has increased from a net loss of ₹3.03 crore in Q1FY24 to ₹2.06 crore. The total order book as of Q1FY25 is at ₹1,022 crore, where 61% is attributable to infra or CHP, 34% to operations and maintenance and 5% to seismic.

Asian Energy Services is an oilfield service and reservoir imaging company, offering a suite of geophysical services specialising in land and well seismic services and operation and maintenance services for oilfields. It is one of the few companies providing end-to-end services in the upstream oil segment. The company has a market capitalisation of ₹1,800 crore. Over the past year, its shares have climbed by 203%.

(₹ in crores)Growth
ParticularsQ1FY25Q4FY24Q1FY24YoYQoQ
Total Income61.49119.5548.7626.11%-48.57%
PAT2.0614.67-3.03--85.96%

Stocks hitting the lower circuit on Tuesday (August 27, 2024)

Sakuma Exports Ltd

Sakuma Exports shares were locked in the 10% lower circuit at ₹6.46 in the early morning session of Tuesday. This decline likely stems from a post-bonus surge in investor interest, which drove the price up. However, once the Relative Strength Index (RSI) exceeded 65, coupled with the psychological barrier of ₹10, investor confidence waned, leading to a price drop.

Sakuma Exports is engaged in buying, processing, marketing, and exporting bulk agricultural commodities like sugar, edible oils, oil seeds, pulses, cotton, etc. It also offers innovative financial structured products linked to physical commodities. The company has a market capitalisation of ₹1,012 crore.

Reliance Power Ltd

Shares of Reliance Power locked in the 5% lower circuit at ₹31.10 in the early morning session of Tuesday. Share price plummeted 5% due to the Securities and Exchange Board of India's (SEBI) imposition of a five-year ban on Anil Ambani and 24 others, including Reliance Home Finance officials. This negative impact was felt across the group, with Reliance Home Finance shares hitting a 5% lower circuit.

Reliance Power has been established to develop, construct and operate power projects both in India as well as internationally. The company on its own and through its subsidiaries has a large portfolio of power generation capacity, both in operation as well as capacity under development. The company has a market capitalisation of ₹12,500 crore.

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