20% Upper Circuit: 5 Stocks that hit the upper circuit today

Synopsis: Indian benchmark indices ended sharply higher on March 24, lifting broader market sentiment and triggering strong moves in several smallcap stocks. Sunlite Recycling, GOCL Corporation, Shree Rama Multi-Tech, NINtec Systems and Jay Bee Laminations hit their 20% upper circuit, with gains backed by momentum and stock-specific interest.

The Indian equity markets closed on a strong note on March 24. The Sensex closed 1,372 points higher at 74,068, while the Nifty closed 412 points higher at more than 22,924. In a positive market, several stocks such as Sunlite Recycling, GOCL Corporation, and three others touched their 20% upper circuit.

Indian equity indices ended on a strong note with Nifty above 22,924 on March 24. At close, the Sensex was up 1,372 points, or 1.89 per cent, at 74,068, and the Nifty was up 412 points, or 1.83 per cent, at 22,924. About 2,483 shares advanced, 809 shares declined, and 79 shares remained unchanged.

Sunlite Recycling Industries Ltd

Sunlite Recycling Industries manufactures copper rods, wires, conductors, and earthing materials from recycled copper scrap With a market cap of Rs 541 crore, the shares of Sunlite Recycling Industries Ltd hit a 20% upper circuit in today’s trading session and reached a high of Rs 397. When compared to its previous day’s closing price of Rs 330.85. The shares are trading at a PE of 25.1, whereas their industry’s PE is at 17.6

Shree Rama Multi-Tech Ltd

The company offers primary packaging solutions, manufacturing laminated tubes, flexible laminates and speciality packaging products. The company’s major products are laminated tubes and laminates, which are used for packing products in paste or gel form.

With a market cap of Rs 665 crore, the shares of Shree Rama Multi-Tech Ltd hit the 20% upper circuit in today’s trading session and reached a high of Rs 51.13. When compared to its previous day’s closing price of Rs 42.61. The shares are trading at a PE of 11.8, whereas their industry’s PE is at 16.

GOCL Corporation Ltd

GOCL Corporation Ltd is engaged in the business of Energetics, Mining & Infrastructure Services and Realty. It is a part of the Hinduja Group, which has a presence across various industries such as automotive, information technology, media, entertainment & communications, infrastructure projects, development, oil & specialty chemicals, power, real estate and healthcare. 

With a market cap of Rs 1,324 crore, the shares of GOCL Corporation Ltd hit the 20% upper circuit in today’s trading session and reached a high of Rs 268.60. When compared to its previous day’s closing price of Rs 223.85. The shares are trading at a PE of 5.37, whereas their industry’s PE is at 24.6

NINtec Systems Ltd

The company is a global offshore software development services & solutions company and information technology service provider. It serves 30 of Fortune 500 companies and 100 SMEs across 18 industry verticals.

With a market cap of Rs 634 crore, the shares of NINtec Systems Ltd hit the 20% upper circuit in today’s trading session and reached a high of Rs 341.55. When compared to its previous day’s closing price of Rs 284.65. The shares are trading at a PE of 20.7, whereas their industry’s PE is at 19.

Jay Bee Laminations Ltd

JBLL is a manufacturer specialising in cold-rolled grain-orientated (CRGO) silicon steel cores, producing cut laminations, slit coils, and assembled cores. These components are primarily for the power and distribution transformer industry, currently catering to transformers up to 220 kV. 

With a market cap of Rs 205 crore, the shares of Jay Bee Laminations Ltd hit the 20% upper circuit in today’s trading session and reached a high of Rs 96.80. When compared to its previous day’s closing price of Rs 80.70. The shares are trading at a PE of 14, whereas their industry’s PE is at 17.4.

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