Wockhardt hit the upper circuit on Wednesday while Premier Explosives and Sky Gold hit the lower circuit

3 min read | Updated on June 26, 2024, 13:04 IST

SUMMARY

On Wednesday, the NIFTY50 index traded in positive terrain. Wockhardt locked in the 5% upper circuit, while Premier Explosives and Sky Gold were locked in the 5% lower circuit.

Wockhardt hit the upper circuit on Wednesday while Premier Explosives and Sky Gold hit the lower circuit

Domestic equity bourses NIFTY50 index and SENSEX were seen trading in the green on Wednesday. As a result, both the frontline indices were seen trading with gains of 0.11% and 0.25%, respectively. Nifty Midcap 100 index and Nifty Smallcap 100 were seen trading with gains of 0.08% and 0.39%, respectively.

In the morning session on Wednesday, on NSE, 81 stocks hit the upper price band (Upper circuit) and 32 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 Wednesday (June 26, 2024)

Wockhardt Ltd

Shares of Wockhardt hit a 5% upper circuit in the early morning session on Wednesday at ₹651.25. Wockhardt is a global pharmaceutical and biotechnology organization engaged in manufacturing finished dosage formulations, injectables, biopharmaceuticals, orals and topicals (creams and ointments).

The company is going to hold its 25th Annual General Meeting on Friday, June 28, 2024. In March, the company came up with ₹480 crore Qualified Institutional Placement (QIP), where funds owned or managed by ace investors Madhusudan Kela and Prashant Jain have invested. It has a market capitalization of ₹9,900 crore. Over the past year shares of the company have gained by 181%.

Stocks hitting lower circuit on Wednesday (June 26, 2024)

Premier Explosives Ltd

Shares of Premier Explosives locked in a 5% lower circuit today in the early morning session at ₹764.15. On June 21, 2024, the company had a record date for face value split (Sub-Division) from ₹10 per share to ₹2 per share in a ratio of 5:1. On Friday after the split the company hit an upper circuit and traded at a new 52 week high at ₹909.35.

Premier Explosives is engaged in the manufacturing of industrial explosives and detonators. It also undertakes operation and maintenance (O&M) services of solid propellant plants at the Sriharikota Centre of ISRO and Solid Fuel Complex at Jagdalpur under the umbrella of DRDO.

From April 1, 2024, the stock has increased by over 190% till June 21, 2024, since then it has been on a downward spiral. The lower circuit can be attributed to profit booking among the investors after the stock soared to new highs. The company has a market capitalisation of ₹4,150 crore.

Sky Gold Ltd

Sky Gold stock hit a 5% lower circuit in the early Wednesday morning session at ₹1,533.60. Over the past year the shares of the company have increased by over 470% and from the past 6 months it has increased by around 56%.

In a recent development, Mumbai-based jewellery company Sky Gold Ltd. has expanded its business by acquiring Starmangalsutra Pvt. Ltd. and Sparkling Chains Pvt. Ltd. This move is intended to broaden Sky Gold's market reach and enhance its product presence across retail outlets. Considering the stock has risen swiftly, market participants preferred to take profit off the tables.

Sky Gold is engaged in the business of designing, manufacturing, and marketing gold jewellery. The company follows a B2B model where the products are mainly sold to mid-range jewellers and boutique stores that sell these products through online platforms and retail stores. The company has a market capitalisation of ₹2,100 crore.

About The Author

Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

Upstox Securities Pvt. Ltd.: SEBI Registration No. INZ000315837 | NSE TM Code: 13942 | BSE TM Code: 6155 | CDSL Reg No.: IN-DP-761-2024 | CIN: U65100DL2021PTC376860 | Compliance Officer: Mr. Kapil Jaikalyani. Tel No.: (022) 24229920. Email ID: compliance@upstox.com | Registered Address: 809, New Delhi House, Barakhamba Road, Connaught Place, New Delhi - 110001 | RKSV Commodities India Pvt. Ltd.: SEBI Registration No.: INZ000015837 | MCX TM Code: 46510 | CIN: U74900DL2009PTC189166 | Compliance Officer: Mr. Amit Lalan. Tel No.: (022) 24229920. Email ID: compliance@rksv.in | Registered Address: 807, New Delhi House, Barakhamba Road, Connaught Place, New Delhi - 110001. Correspondence Address: 30th Floor, Sunshine Tower, Senapati Bapat Marg, Dadar (West), Mumbai - 400013. | For any complaints, email at complaints@upstox.com and complaints.mcx@upstox.com.

Procedure to file a complaint on SEBI SCORES: Register on the SCORES portal. Mandatory details for filing complaints on SCORES include: Name, PAN, Address, Mobile Number, and E-mail ID. Benefits include effective communication and speedy redressal of grievances. Please ensure you carefully read the Risk Disclosure Document as prescribed by SEBI, along with our Terms of Use and Privacy Policy.

Upstox Securities Private Limited is a wholly owned subsidiary of RKSV Securities India Private Limited and RKSV Commodities India Private Limited is an associate of RKSV Securities India Private Limited.

Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing.
*Brokerage will not exceed the SEBI prescribed limit.

Risk disclosures on derivatives -

9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
On an average, loss makers registered net trading loss close to ₹ 50,000
Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

Mutual Funds: Top rated funds do not constitute any advice. Research data is powered by Morningstar. Please read the offer documents carefully before investing. Upstox shall not accept any liability arising out of your investments.
These are not Exchange traded products, and the Member is just acting as distributor. All disputes with respect to the distribution activity, would not have access to Exchange investor redressal forum or Arbitration mechanism.

Attention Investors: As per NSE circular dated July 6, 2022, BSE circular dated July 6, 2022, MCX circular dated July 11, 2022 investors are cautioned to abstain them from dealing in any schemes of unauthorised collective investments/portfolio management, indicative/ guaranteed/fixed returns / payments etc. Investors are further cautioned to avoid practices like:
a) Sharing i) trading credentials – login id & passwords including OTP’s., ii) trading strategies, iii) position details.
b) Trading in leveraged products /derivatives like Options without proper understanding, which could lead to losses.
c) Writing/ selling options or trading in option strategies based on tips, without basic knowledge & understanding of the product and its risks
d) Dealing in unsolicited tips through like Whatsapp, Telegram, Instagram, YouTube, Facebook, SMS, calls, etc.
e) Trading / Trading in “Options” based on recommendations from unauthorised / unregistered investment advisors and influencers.

Kindly, read the Advisory Guidelines For Investors as prescribed by the Exchange with reference to their circular dated 27th August, 2021 regarding investor awareness and safeguarding client’s assets : Advisory Guidelines For Investors

Kindly, read the advisory as prescribed by the Exchange with reference to their circular dated January 14, 2022 regarding Updation of mandatory KYC fields by March 31, 2022: KYC Updation

Attention Investors: Prevent unauthorised transactions in your Demat account by updating your mobile number with your depository participant. Receive alerts on your registered mobile number for debit and other important transactions in your Demat account directly from CDSL on the same day. Prevent unauthorised transactions in your Trading account by updating your mobile numbers/email addresses with your stock brokers. Receive information on your transactions directly from the Exchange on your mobile/email at the end of the day. Issued in the interest of investors. KYC is a one-time exercise while dealing in securities markets - once KYC is done through a SEBI-registered intermediary (broker, DP, Mutual Fund, etc.), you need not undergo the same process again when you approach another intermediary. As a business, we don’t give stock tips and have not authorised anyone to trade on behalf of others. If you find anyone claiming to be part of Upstox or RKSV and offering such services, please send us an email at complaints@upstox.com and complaints.mcx@upstox.com.

No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor’s account. Stockbrokers can accept securities as margin from their clients only by way of a pledge in the depository system w.e.f. 1st September 2020.
Update your email ID and mobile number with your stockbroker/depository participant and receive an OTP directly from the depository on your registered email ID and/or mobile number to create a pledge.
Check your securities/mutual funds/bonds in the Consolidated Account Statement (CAS) issued by NSDL/CDSL every month.

Attention Investors: SEBI has established an Online Dispute Resolution Portal (ODR Portal) for resolving disputes in the Indian Securities Market. This circular streamlines the existing dispute resolution mechanism, offering online conciliation and arbitration, benefiting investors and listed companies. https://www.sebi.gov.in/legal/circulars/jul-2023/online-resolution-of-disputes-in-the-indian-securities-market_74794.html ODR portal for Investors - https://smartodr.in/login

Wockhardt hit the upper circuit on Wednesday while Premier Explosives and Sky Gold hit the lower circuit

Stocks hitting the upper circuit on Wednesday (June 26, 2024)

Wockhardt Ltd

Stocks hitting lower circuit on Wednesday (June 26, 2024)

Premier Explosives Ltd

Sky Gold Ltd

Stock Market Live Updates: NIFTY, SENSEX decline as Infosys, Reliance, TCS drag

Honasa share price: Mamaearth parent hits 20% lower circuit after poor Q2 results

Hero MotoCorp share price rises 5% after Q2 net profit jumps 6% to ₹1,066 crore

Biggest winners of India’s IPO boom: Stocks outperforming their initial gains

Corporate actions next week: Dividends, stock splits and rights issues

Trade setup for 14 Nov: Critical test for NIFTY50!

Trade setup: NIFTY50 below August low!