Upper circuit stocks: Route Mobile gains 10 per cent, CG Power locks in at upper circuit

Wednesday’s trading session witnessed a bearish attack as the domestic benchmark indices plunged. In spite of weaker market sentiments, a list of stocks locked in at their respective upper circuit.

Sensex crashed by 741.89 points from its day’s high of 40,664.35 levels to close at 39,922.46 levels, down by nearly 600 points or 1.48 per cent. Nifty fell by 159.80 points or 1.34 per cent to settle at 11,729.60 levels.

Ahead of October F&O expiry, the domestic indices tanked as a result of various factors including the surging Coronavirus cases, subdued global markets, delay in US stimulus package, existing risk in markets ahead of upcoming US elections, etc.

Analysts believe that currently, gains in stocks are more due to the stock-specific approach followed by investors rather than looking at market or sectoral rally as a whole. Also, since it is the earnings season, news related to companies’ Q2FY21 results and interim dividend strongly impacts the stock movement.

The shares of Route Mobile gained by Rs 82.95 per share or by 10 per cent to lock in at Rs 912.75 per share after the company announced strong results for Q2FY21. On a consolidated basis, revenue from operations for Q2FY21 jumped by 77.68 per cent YoY to Rs 349.27 crore while its net profit gained in Q2FY21 tripled to Rs 32.72 crore compared to Rs 12.99 crore gained in Q1FY20.

For FY21, Kopran Ltd declared an interim dividend of Rs 1.50 per equity share with the face value of Rs 10 each.