Amber Enterprises India, Tech Mahindra and Netweb Technologies India hit fresh 52-week high; here’s why

On Monday, 78 stocks advanced to 52-week highs. The benchmark indices, NIFTY50, traded at 24,756, down 0.36%, and SENSEX at 81,070, down 0.18%. The Nifty Bank was trading at 52,070, down 0.04%, while the fear gauge, India VIX, rose by over 7% to 14.

The broader market indices were in negative territory, with the Nifty Midcap 100 down 0.34% and the Nifty Smallcap 100 down 0.65%. The sectoral indices traded mixed, with Nifty Financial Services up 0.20%, making it the top gainer. Meanwhile, Nifty FMCG was the top loser, falling by 1.42%.

Three stocks which hit fresh 52-week highs on Monday, October 21, 2024

Amber Enterprises India Ltd

On Monday, the stock surged 8.22% from the previous close, reaching a 52-week high of ₹5,847.75. As of 10:00 a.m., it was trading at ₹5,835.90, up by 8%.

Recently, the Amber group, through its subsidiary, formed a joint venture with Korean Circuit (970-30 JV) to manufacture printed circuit boards (PCBs) in India. This is a strategic entry into high-technology and advanced manufacturing of HDI, Flex, and semiconductor substrates.

In Q1 FY25, the company reported revenue of ₹2,401 crore, compared to ₹1,702 crore in Q1 FY24, reflecting a growth of 41.09% YoY. The PAT for Q1 FY25 stood at ₹75 crore, up from ₹47 crore in Q1 FY24.

Over the past month, the company has significantly outperformed the market, delivering a return of 33.15%. Its current market capitalisation is ₹19,587 crore.

Tech Mahindra Ltd

On Monday, the stock surged 4.38% from the previous close, reaching a 52-week high of ₹1,761.85. As of 10:14 a.m., it was trading at ₹1,727.60, up by 2.35%.

The company reported its results on Saturday, beating analysts' revenue growth estimates. It posted revenue of ₹13,313 crore (3.49% growth), surpassing the estimated ₹13,190 crore. In April, the company unveiled a three-year plan to double its operating margin to 15% by FY27.

In Q2 FY25, Tech Mahindra reported revenue of ₹13,313 crore, compared to ₹12,864 crore in Q2 FY24, reflecting a 3.49% YoY growth. The PAT for Q2 FY25 stood at ₹1,258 crore, including ₹522 crore from other income (a one-time gain due to the sale of land), up from ₹505 crore in Q2 FY24.

Over the past month, the company has outperformed the market, delivering a return of 7.30%. Its current market capitalisation is ₹1,69,460 crore.

Netweb Technologies India Ltd

On Monday, the stock surged 9.99% from the previous close, reaching a 52-week high of ₹2,949.80. As of 10:20 a.m., it was trading at ₹2,799.90, up by 4.41%.

The company reported strong quarterly results, with income from AI systems growing over 220% YoY. The CEO stated, “Our business pipeline and order book remain strong. We are pleased to report that we have started receiving export orders, aligning with our growth strategy to enter overseas markets.”

In Q2 FY25, the company reported revenue of ₹251 crore, compared to ₹145 crore in Q2 FY24, reflecting a 73% YoY growth. The PAT for Q2 FY25 stood at ₹26 crore, up from ₹15 crore in Q2 FY24.

Over the past month, the company has outperformed the market, delivering a return of 4.63%. Its current market capitalisation is ₹15,695 crore.