610 stocks freeze at upper circuits; Siyaram Silk, SML Isuzu zoom 20%

Siyaram Silk Mills, SML Isuzu, Kitex Garments, Ujjivan Financial Services and Equitas Holdings from the S&P BSE Allcap index were locked 20 per cent upper circuit on the BSE

Shares of as many as 610 stocks, most of them from the smallcap space, were locked at their respective upper circuits on the BSE, in an otherwise subdued market, on Monday. Propelled by this, the S&P BSE SmallCap index hit a new high of 26,168 in the intra-day trade today.

At 3:08 PM, the index was up 0.83 per cent, as compared to 0.49 per cent gain in the S&P BSE MiCap index but 0.02 per cent decline in the benchmark S&P BSE Sensex.

Individually, Siyaram Silk Mills, SML Isuzu, Kitex Garments, Ujjivan Financial Services and Equitas Holdings from the S&P BSE AllCap index were locked in their 20 per cent upper circuits on the BSE. Meanwhile, Vardhman Holdings, Starteck Finance, Expleo Solutions, Zodiac Clothing Company and Vijay Textiles were among the non-index stocks that too were frozen at 20 per cent upper circuits on the BSE.

Edelweiss Financial Services, V2 Retail and Vascon Engineers, on the other hand, were locked in their 10 per cent upper circuits, while, Anant Raj Limited, Shemaroo Entertainment, Tata Steel Long Products, Tanla Platforms, Hinduja Global Solutions and Everest Kanto Cylinders others from BSE AllCap index hit 5 per upper circuit on the BSE.

Among these, Equitas Holdings (at Rs 138.40) and Ujjivan Financial Services (at Rs 244.90) were locked in the 20 per cent upper circuit after the Reserve Bank of India (RBI) allowed small finance banks (SFBs) and respective holding companies to apply for the Amalgamation scheme.

Equitas Holdings, the promoter of Equitas Small Finance Bank (SFB), on Saturday said the bank has received the RBI's nod to apply for amalgamation of the promoter into itself. "RBI has also conveyed that any 'no-objection', if and when given on the Scheme of Amalgamation, would be without prejudice to the powers of RBI to initiate action, if any, for violation of any licensing guidelines or any terms and conditions of license, or any other applicable instruction," Equitas Holdings said in exchange filing on Saturday. READ ABOUT IT HERE

That apart, Kitex Garments hit 20 per cent upper circuit at Rs 168.65 today, having rallied 53 per cent in the past three trading days, on the back of heavy volumes. The stock of Kitex Garments, one of the world's leading infant apparel manufacturers, has rallied 50 per cent in three days after the company announced a Rs 1,000 crore investment in Telangana. READ HERE

Kitex Garments is in the business of manufacturing and exporting garments. The company manufactures different types of garments such as hosiers shirts, pants, jackets, innerwear and outerwear. The company also exports infant and children's wear and jackets to the United States.

Security Group	Upper Circuit
A	7
B	74
M	10
MT	0
P	4
T	69
X	152
XT	244
Z	50
Total	610