On Tuesday, 27 stocks reached 52-week highs. Benchmark indices saw mixed movements, with NIFTY50 trading at 24,188, down 0.67%, and SENSEX at 79,560, down 0.55%. Meanwhile, Nifty Bank rose to 51,415, up 0.31%, and India VIX, the volatility index, was close to 15, rising 4%.
Broader market indices were in negative territory, with the Nifty Midcap 100 down 0.83% and the Nifty Smallcap 100 down 1.02%. Sectoral indices showed mixed trends, with Nifty Bank gaining 0.23%, making it the top gainer, while Nifty Auto led the declines, down 2.39%.
Three stocks hitting 52-week high on Tuesday, October 29, 2024 Gillette India Ltd The company manufactures and sells fast-moving consumer goods in grooming and oral care.
On Tuesday, its stock surged by 12.37% from the previous close, hitting a 52-week high of ₹9,569.50.
This rise is attributed to strong quarterly results, with a 43% YoY profit increase. Gillette maintained double-digit growth in both top and bottom lines, further solidifying its position in the blades and razors segment.
In Q2 FY25, revenue was ₹782 crore, up from ₹668 crore in Q2 FY24, marking a 17.12% YoY growth. PAT rose to ₹133 crore from ₹93 crore in Q2 FY24.
The company outperformed the market over the past month, delivering a return of 8.07%. Current market capitalisation stands at ₹30,208 crore.
Piramal Pharma Ltd The company operates in CDMO, complex hospital generics, and consumer healthcare.
Piramal Pharma's stock rose 7.09% on Tuesday, reaching a 52-week high of ₹263.90.
The stock price increase is driven by strong performance in the CDMO segment, which constitutes 59% of total sales, along with advancements in clinical CDMO projects. The company has invested around $80 million in capacity expansion.
In Q2 FY25, revenue grew to ₹2,242 crore, up from ₹1,911 crore in Q1 FY24, reflecting a 17.28% YoY increase. PAT reached ₹23 crore, up from ₹5 crore in Q2 FY24.
Over the past month, the company delivered a 12.04% market return, with a current market capitalisation of ₹33,608 crore.
Paradeep Phosphates Ltd The company is focused on manufacturing, trading, distribution, and sales of complex fertilizers.
Paradeep Phosphates saw an 11.73% rise in its stock on Tuesday, reaching a 52-week high of ₹99.
The stock's growth is due to a robust quarter, with profits surging 154% YoY. The QoQ profit growth was notable at 4,132% (from ₹5 crore in Q1FY25).
In Q2 FY25, revenue grew to ₹3,844 crore from ₹3,683 crore in Q2 FY24, marking a 4.37% YoY increase. PAT rose to ₹227 crore, up from ₹89 crore in Q2 FY24.
