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

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

Upstox
By Upstox News Desk

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

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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.

Stock list

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