Domestic benchmark indices BSE Sensex and NSE Nifty 50 opened with gains and hit record highs within minutes of starting Wednesday’s session. As the market approached the closing bell, the indices were trading off lows with the Nifty less than 50 points away from its high. The Sensex settled at 67,097.44 points and the Nifty closed at 19,833.15 points
Meanwhile, here are a few stocks that hit the 20 percent upper circuit today:
Tips Films
Tips Films is engaged in the production and distribution of movies through satellite, theatres, and digital modes. Moreover, it is engaged in the distribution of music rights.
The company’s shares started Wednesday’s session with 2.5 percent gains, but witnessed a spike during early trades and went on to hit the 20 percent upper circuit. Its shares were locked at ₹ 603.05 apiece on the National Stock Exchange (NSE).
Tips Films is a micro-cap company with a market capitalization of ₹ 217 crores. It has a high return on equity of 30.50 percent and an ideal debt-to-equity ratio of 0.19.
HCL Infosystems
HCL Infosystems is engaged in providing value-added distribution of technology, mobility and consumer electronic products. Moreover, it offers a wide range of IT services and sells digitised educational content & learning solutions.
The company’s shares opened 13.21 percent higher on Wednesday and hit the 20 percent upper circuit soon after. Its shares were locked at ₹ 16.80 apiece.
HCL Infosystems is a micro-cap company with a market capitalization of ₹ 461 crores. It has a negative return on equity. Its shares were trading at a price-to-earnings ratio of 23.07, which is almost at par with the industry P/E of 24.92.
Frontier Springs
Frontier Springs is engaged in the production of L.B.springs and hot coiled compression springs and forging items for wagons, locomotives and carriage and is regularly supplying to railways, bogie manufacturers, and so on.
The company’s shares opened marginally higher on Wednesday and continued to gain gradually. However during the last hour of trading on Wednesday, it hit the 20 percent upper circuit as its share price clocked significant gains. Its shares were locked ₹ 513.15 apiece.
Frontier Springs is a micro-cap company with a market capitalization of ₹ 4163 crores. It has a low return on equity of 10.19 percent. Its shares were trading at a price-to-earnings ratio of 22.03, which is almost at par with the industry P/E of 25.69.
Written by Simran Bafna
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