Senco, Orchid Pharma, ITI, Blue Jet among 504 stocks locked at lower limit

At 02:40 PM; the BSE Smallcap and BSE Midcap indices were down 3.1% and 2.3%, respectively, as against 0.3% decline in the BSE Sensex.

Shares of Senco Gold, Orchid Pharma, Tarc, Siyaram Silk Mills, ITI, 63 Moons Technologies, Zaggle Prepaid Ocean Services, Concord Biotech, Jai Corp, Blue Jet Healthcare and Indo Tech Transformers were among 504 stocks locked in their respective lower circuit (down up to 20 per cent) on the BSE in Friday’s intra-day trade amid a sharp sell-off in equities.

 

At 02:40 PM; the BSE Smallcap and BSE Midcap indices were down 3.1 per cent and 2.3 per cent, respectively. In comparison, the BSE Sensex was down 0.3 per cent.

 

Among individual stocks, Senco Gold share price was locked at the 20-per cent lower circuit, at Rs 357.6 per share, on the BSE in Friday's intraday trade amid heavy volumes. The decline in Senco Gold shares came in after the company reported weak operational performance in the December 2024 quarter. The company's adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) margin contracted to 5.1 per cent in December 2024 quarter (Q3FY25) from 11.0 per cent in Q3FY24. The company had guided for an Ebitda margin in the range of 7 per cent and 8 per cent.

 

 

The company’s profit after tax declined 69 per cent year-on-year (YoY) to Rs 33.48 crore, compared to Rs 109.32 crore in Q3FY24. The company reported lower Ebitda and profit after tax (PAT) in the quarter due to custom duty impact of Rs 57.4 crore.

 

The management believes that with the full impact of the custom duty reduction already factored in the 9-month results; and considering the present vibrant demand, the company will be able to deliver 14-15 per cent gross margin and 7 per cent-8 per cent Ebitda margin.

 

Orchid Pharma shares were locked at the 10 per cent lower circuit at Rs 945.45 on the BSE. In the past one week, the stock of pharmaceutical company tanked 37 per cent after the company reported 23 per cent YoY decline in PAT at Rs 24 crore in Q3FY25. Sales remained flat at Rs 217 crore, against Rs 221 crore in Q3FY24. Ebitda margin contracted to 17 per cent from 19 per cent.

 

Shares of Concord Biotech froze at the 20 per cent lower circuit at Rs 1,688 after the company reported 2 per cent YoY decline in its consolidated PAT at Rs 75.92 crore in Q3FY25. Revenue remained flat at Rs 244.22 crore during the quarter, against Rs 240.80 crore in Q3FY24. Ebitda margin contracted 390 bps to 40.1 per cent from 44.0 per cent.

 

The management said the growth was impacted on account of lumpiness in the procurement pattern of customers and some spill over revenue to the following quarter. They remain optimistic of the company’s growth in both Active Pharmaceutical Ingredients (API) & Formulation segment on the back of new product addition, customer addition and incremental wallet share gain from existing customers.

 

Shares of Zaggle Prepaid Ocean Services were locked at the 5 per cent lower limit at Rs 347.05 on the BSE. In past one week, the stock price of this information technology company slipped 26 per cent after its reported 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.

 

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.