57 Stocks hits 52-week high including Deepak Fertilizers, Mankind Pharma, and Cartrade Tech

On Wednesday, 57 stocks reached 52-week highs even as frontline indices traded in the green. The NIFTY50 rose by 0.68%, trading at 24,370, while the SENSEX climbed by 0.67%, reaching 80,010. Nifty Bank also saw a rise, reaching 52,340, up 0.25%, and India's volatility index, the India VIX, declined by 6.2% to hover near the 15-mark.

Broader market indices also remained positive, with the Nifty Midcap 100 up 1.22% and the Nifty Smallcap 100 rising by 1.06%. All the Sectoral indices were in green, with Nifty Metal and Nifty Realty emerging as top gainers.

Here’s a look at three stocks that reached 52-week highs on Wednesday, November 6, 2024:

Deepak Fertilizers & Petrochemicals Corp Ltd

The company is involved in fertilisers, agri-services, bulk chemicals, mining chemicals, and real estate.

The stock surged by 5% from its previous close, hitting a 52-week high of ₹1,391.45.

Revenue and profit are expected to grow further with two upcoming plants nearing commissioning within the next two years. In Q2 FY25, net profit rose by 237% YoY.

Revenue climbed to ₹2,747 crore from ₹2,424 crore in Q2 FY24, a 13.31% YoY increase, while PAT reached ₹214 crore, up from ₹63 crore in Q2 FY24.

Over the past month, the stock delivered a 26.18% market return and it has more than doubled since the start of calendar year 2024. The stock has a current market capitalisation of ₹17,395 crore.

Mankind Pharma Ltd

The company develops, manufactures, and markets pharmaceutical formulations in various acute and chronic therapeutic areas, as well as consumer healthcare products. The stock surged by 6% from its previous close, reaching a 52-week high of ₹2,874.

This price movement follows strong quarterly performance driven by demand for drugs treating long-term illnesses like diabetes and cardiovascular diseases, and the company also exceeded analyst expectations.

In Q2 FY25, revenue increased to ₹2,530 crore from ₹2,260 crore in Q2 FY24, an 11.91% YoY growth, while PAT reached ₹634 crore, up from ₹473 crore in Q2 FY24. Over the past month, the stock delivered a 5.33% market return, with a current market capitalisation of ₹1,09,768 crore.

Cartrade Tech Ltd

The company operates a multi-channel auto platform covering various vehicle types and value-added services.

The stock surged by 6% from its previous close, reaching a 52-week high of ₹1,190.

The quarterly performance was strong, boosted by Diwali-Dussehra festive demand, especially from its consumer brands Carwale and Bikewale, which reported 36% YoY growth. In Q3, the management anticipates a further 30% YoY growth.

In Q2 FY25, revenue rose to ₹154 crore from ₹120 crore in Q2 FY24, a 28.50% YoY increase, with PAT growing to ₹31 crore from ₹5 crore in Q2 FY24.

Over the past month, the stock delivered a 28.05% market return, with a current market capitalisation of ₹5,529 crore.