On weekly F&O expiry, the Indian stock market remained subdued, weighed down by weak global sentiment as the US Fed raised interest rates by another 75 basis points. The Indian key indices NSE Nifty 50 declined by 30 points or 0.17% to close at 18051 while the BSE Sensex fell 70 points or 0.11% to end at 60836.
Despite the volatility, here are 3 stocks that hit an upper circuit of 20% today:
Promax Power Limited
The shares of Promax Power were locked in an upper circuit of 20 per cent on Thursday as the shares ended at Rs 34.80. In the past month, the stock has gained approximately 40 per cent. In a year, the share price has risen from Rs 14.35 to the current levels, logging a multibagger return of 143 per cent.
Promax Power is an engineering company offering solutions like Executing turnkey Power, substation, transmission line, Hydro, distribution, electrification, Civil construction, Pre-engineered Building, High Rise Building, Sewerage, and Water treatment projects. The company has a market capitalization of Rs 27.8 Crore.
Mahalaxmi Rubtech Limited
Mahalaxmi Rubtech’s shares were locked in a 20 per cent upper circuit on Thursday, closing at Rs 226. The stock has increased by approximately 44% in the last month. The share price has risen from Rs 74 in January this year to the current level, representing in a multibagger return of 204 per cent YTD.
Mahalaxmi Rubtech is engaged in the manufacturing of world-class Offset printing Blankets, niche textiles, and Rubber products. It is the only Indian manufacturer with an in-house facility from Yan to offset printing blankets. The company has a market capitalization of Rs 240.7 Crores.
Olatech Solutions Limited
On Thursday, Olatech Solutions’ shares closed at Rs 101 after being locked in a 20% upper circuit. The share price has risen from Rs 62 in September this year to the current level, representing a 63 per cent return.
Olatech Solutions offers software solutions such as NOC tools, Network monitoring, management & analytics, secured authentication and accounting of users & devices, Data Centre Infrastructure Management, etc. The company has a market capitalization of Rs 23 Crore.
Written by Anoushka Roy
Disclaimer
The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
