NGL, Zaggle, others from BSE Smallcap freeze in lower circuits of up to 20%

Indo Tech Transformers, V2 Retail, Coffee Day Enterprises, Veritas (India) and Rajoo Engineers are others from the BSE Smallcap index locked in their respective lower circuit on the BSE

Shares of NGL Fine-Chem, Vakrangee, Wockhardt, Zaggle Prepaid Ocean Services, Indo Tech Transformers, V2 Retail, EPACK Durable, Coffee Day Enterprises, Veritas (India) and Rajoo Engineers from the BSE Smallcap index locked in their respective lower circuits on the BSE in Monday’s intra-day trade.  These stocks are frozen in their respective maximum lower circuit, ranging between 5 per cent and 20 per cent. In comparison, the BSE Sensex was down 0.7 per cent at 77,326, at 11:07 AM.

 

Among the individual stocks, NGL Fin-Chem tanked 20 per cent to Rs 1,501.60, and hit its 52-week low, after the company reported a 87 per cent year-on-year (YoY) decline in its consolidated profit after tax, at Rs 1.27 crore in December 2024 quarter (Q3FY25). The pharmaceutical company had posted a profit of Rs 10.03 crore in Q3FY24. It manufactures human and veterinary bulk drugs, intermediates, and formulations. The company primarily deals in animal healthcare products, such as antiprotozoal, anthelmintics, and growth promoters.

 

Shares of Zaggle locked in 10 per cent lower circuit at Rs 424.30 after its reported earnings before interest, tax, depreciation and amortisation (Ebitda) margin contracted 140 bps to 8.8 per cent in Q3FY25 from 10.2 per cent in Q3FY24. The company delivered a revenue growth of 68.6 per cent YoY at Rs 336 crore, while profit after tax grew 32.9 per cent YoY, at Rs 20.24 crore.  Also Read: Stock Market Crash: Why are Sensex, Nifty falling today? Levels to watch

 

For FY25, the management is confident of achieving a 58-63 per cent growth in top line. The company is also evaluating inorganic growth opportunities to expedite this growth and the discussions are at advanced stages, the management said.

 

Meanwhile, the stock has corrected 29 per cent from its 52-week high level of Rs 597 touched on December 17, 2024. However, in the past one year, it outperformed the market by surging 72 per cent, as compared to the 9 per cent rise in the BSE Sensex.

 

Shares of Vakrangee locked in lower circuit for the eight straight trading day, declining 5 per cent to Rs 16.80, and hitting its new 52-week low on the BSE. The average trading volumes on the counter jumped over two-fold, with a combined 31.58 million shares changing hands on the NSE and BSE. There are pending sell orders for a combined 7.75 million shares on these exchanges, data shows. In the past two weeks, the stock price of Vakrangee has tanked 40 per cent.

 

Vakrangee delivers realt ime banking and financial services, ATM, insurance, e-Governance, e-Commerce (including Healthcare services) and logistics services to unserved rural, semi-urban and urban markets, enabling Indians to benefit from financial, social and digital inclusion.

 

So far in the month of February, the stock has slipped 30 per cent after the promoter of the company, Dinesh Nandwana, aged 62 years, died on January 31, 2025.

 

Dinesh Nandwana was a first generation entrepreneur who played an important role in bringing the company to its present level based on very strong fundamentals. He has been instrumental in moulding Vakrangee from a modest consultancy company to a prominent force to be reckoned with and has scaled the company to a new orbit of growth, Vakrangee said in an exchange filing.