After a volatile week and Sensex crashing 1000 points on Thursday, this morning on Friday, the BSE Sensex opened positive and currently, it is trading at the 72,555 mark, up by 150 points. Sensex has trimmed its gains from the day’s high. In the first half of the trade, most companies are trading positively. The BSE Midcap index is hovering at 40,951 while the BSE Smallcap index is trading at 45,243.
These three stocks with a market capitalisation of over ₹1,000 crore hit the upper and lower circuit in the morning session.
Stocks hitting the upper circuit on Friday (May 10, 2024)
Alphalogic Techsys Ltd
On Friday, shares of
Alphalogic Techsys are locked in the 5% upper circuit at ₹223.20. The company's stock price has been hitting a new 52-week high every day, constantly reaching its maximum allowed upper limit, known as the upper circuit, over the last month. In that same period, the stock has soared by 118.97%. The company is going to declare its financial results for Q4FY24 and year-end 2024. Investor anticipation for the results is the main reason behind the rally. The company's board of directors met on May 8, to approve the issuance of equity shares resulting from the conversion of convertible warrants and the allotment of bonus shares associated with the warrant conversion. Alphalogic Techsys is in the business of providing Information Technology and related services. It has a market capitalisation of ₹1,045 crore.
One 97 Communications Ltd (Paytm)
Shares of
Paytm hit the upper circuit of 5% today and are currently trading at ₹346.40. The company’s share price surged for a second consecutive day, indicating positive news following recent difficulties. The company has come back to the limelight after various media reports indicated that the Paytm founder Vijay Shekhar Sharma's Pai Platforms is experimenting with a ride-hailing feature through the Open Network for Digital Commerce (ONDC). Platform formerly known as Paytm E-commerce, will join a list of a few companies in ONDC’s mobility space to offer auto-rickshaw rides in megacities and aim to disrupt the dominance of Ola and Uber in the market. The company has a market capitalization of ₹22,179.62 crore.
Stocks hitting lower circuit on Friday (May 10, 2024)
Waaree Renewable Technologies Ltd
Shares of
Waaree Renewable Technologies Ltd were consistently hitting back-to-back 5% lower circuits. The stock has been witnessing profit booking amid a vertical price rise and the stock is up by over 480% on a YTD basis. Waaree Renewables Technologies is engaged in the business of the generation of power through renewable energy sources and it has a market capitalisation of ₹26,700 crore. In the last six months, shares of the company have surged by over 813%.
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