Spandana, RInfra, Newgen among 685 stocks to hit lower circuit on the BSE

KPI Green Energy, Sterling & Wilson Renewable Energy, Jai Corp, PTC Industries and GMR Power & Urban Infra from the BSE A group were locked at the lower circuits in intra-day deals on Monday.

Shares of Newgen Software Technologies, Spandana Sphoorty Financial, Reliance Infrastructure, KPI Green Energy, Sterling & Wilson Renewable Energy, Jai Corp, PTC Industries and GMR Power & Urban Infra from the BSE A group were among 685 stocks that were locked up to the lower circuit on the BSE in Monday’s intra-day trade as of 02:40 PM.

 

A total of 30 stocks from the BSE Smallcap index were locked in the lower circuit and there were only sellers at these counters. The list includes Sunflag Iron & Steel Company, Kitex Garments, ITI, Ashapura Minechem, Indo Tech Transformers, Zaggle Prepaid Ocean Services, EPACK Durable, Onesource Specialty Pharma and K P Energy.

 

Among individual stocks, Newgen Software Technologies was locked in the 10 per cent lower circuit at Rs 1,057.05. In the past eight trading days, the stock has plunged 40 per cent from a level of Rs 1,753.80 on January 15, 2025. It had hit a record high of Rs 1,795.50 on January 15.

 

Newgen is the leading provider of AI enabled unified digital transformation platform with native process automation, content services, and communication management capabilities. Its customers are organisations belonging to sectors such as banking, telecommunication and insurance.

 

The company reported single-digit revenue growth of 5.5 per cent sequentially in the December 2024 quarter (Q3FY25). In Q2FY25, the company’s revenue had risen 14.8 per cent on a quarter-on-quarter (QoQ) basis.

 

The company's revenue growth moderation was due to a lower-than-expected revenue realisation from the India business, attributed to execution challenges and extended implementation cycles (beyond one year) for certain large, complex deals.

 

The management, however, remains optimistic about sustaining 20 per cent plus revenue growth, supported by continued momentum in the licensing business across India and APAC, and shorter deal cycles. It guided for profit after tax (PAT) margins in the 20-23 per cent range in FY25. The company's management reiterated their commitment to reaching their aspirational goal of $500 million in revenue within the next 3-4 years, leveraging growth momentum in mature markets. The growth momentum is likely to be a key monitorable, going ahead, ICICI Securities said in a note.

 

Shares of Sterling & Wilson Renewable Energy (SWREL) were locked in the 5 per cent lower circuit at Rs 321.50, also its fresh 52-week low on the BSE. In the past seven days, the stock of civil construction company has tanked 30 per cent. It plunged 61 per cent from its 52-week high level of Rs 828 hit on May 21, 2024.

 

SWREL is a global pure-play, end-to-end renewable engineering, procurement, and construction (EPC) solutions provider. The company provides EPC services for utility-scale solar, floating solar and hybrid & energy storage solutions and has a total portfolio of over 21.7 GWp (including projects commissioned and under various stages of construction). SWREL also manages an operation and maintenance (O&M) portfolio of 8.8 GWp solar power projects, including for projects constructed by third parties.

 

The company undertakes EPC contracts for construction of solar power projects across geographies which stipulates timelines for the completion of the project as per the agreed schedule and cost. Additionally, the profitability is susceptible to volatility in module prices pertaining to 20 per cent of the order book, according to analysts. 

Security Group	Upper Circuit	Lower Circuit	Total
A	0	10	10
B	4	65	70
M	3	15	16
MS	0	1	1
MT	1	33	36
P	8	4	12
R	1	3	4
T	8	135	145
TS	1	0	1
X	8	122	119
XT	109	251	356
Z	10	46	56
ZP	1	0	1
Total	154	685