Amid a sharp sell-off in Indian markets, these three stocks hit a fresh 52-week high on Friday

On Friday, over 80 stocks advanced to 52-week highs. The benchmark indices, NIFTY50 traded at 24,818 level, down 0.77%, and SENSEX at 81,248 level, down 0.76%. Nifty Bank is trading at 51,492 level, down 0.14%, while the fear gauge India VIX spiked to 13.62 levels.

The broad market indices traded red, with Nifty Midcap 100 down 0.53% and Nifty Smallcap 100 down 0.29%. The majority of sectoral indices traded in the red, except Nifty’s Media, Financial Service, Pharma and Healthcare indices are trading in green.

Top three stocks that hit a fresh 52-week high on Friday, August 2, 2024

The stock price witnessed this sharp spike after the company posted stellar quarterly results for Q1FY25, resulting in a surge of 19% in the stock price. Zomato reported a multifold rise in its net profit at ₹253 crore in Q1FY25 up 12,550% on YoY basis against ₹2 crore in Q1FY24.

Adjusted Revenue increased 62% on a YoY basis to ₹4,520 crore, Gross Order Value (GOV for B2C business) grew at 53% YoY to ₹15,455 crore and Adjusted EBITDA stood at ₹299 crore against ₹12 crore in same quarter last year.

Apart from Zomato, the company also runs e-commerce platforms such as Blinkit and Hypersure. Blinkit has been offering Zomato opportunities to participate in the disruption of industries such as retail, grocery and e-commerce by attracting young and working-class consumers. Blinkit saw a (Gross Order Value) GOV growth of 130% YoY to ₹4,920 crore in the June ended quarter.

The stock of this new-age business has gained over 209% in the last 12 months, more than doubling investors' money.

Gillette India Ltd - The popular personal care brand’s stock soared 3% on Friday, peaking at a 52-week high at ₹8,195. The stock price of the company has soared over 11% in the last one month and over 42% in the last 12 months.

The FMCG company engaged in grooming and oral care products for the quarter ended March 31, 2024, reported a standalone revenue of ₹686.43 Crore, up 8.81% from the same quarter last year and net profit of ₹99.09 crore.

As of June 2024, the shareholding pattern revealed promoters having a 75% stake, followed by DIIs with 12.08%, Public with 11.08% and FIIs with 1.84% stake.

Currently, the company trades at an adjusted P/E ratio of 66.79 with a market capitalisation of ₹26,361 crore.

Granules India Ltd - Pharma major’s scrip climbed to a 52-week high at ₹639.7, gaining over 1.3% in Friday’s morning session.

The stock has been witnessing upward moves with a trade volume of 10.42 lakh and a trade value of ₹66.07 crore with market capitalisation of the company at ₹15,454 crore on NSE till around 10.05 am on Friday.

The Q1FY25 earnings seem to have built momentum for the stock as it gained over 13% in the last 5 days. With Q1FY25 results declared on June 30, 2024, the company reported consolidated revenue of ₹1,180 crore up 20% YoY basis, net profit of ₹135 crore with growth of over 181%.

The company witnessed significant margin expansion from 14% in the same quarter last year to 22% in Q1FY25 boosting its net profit. Further continued growth in formulation share in the business, growth in the North American region, healthy operating cash flows and new product launches in the USA remained key highlights of the quarter.

North America continues to remain a core geography for the company with revenue share increasing to 74% for the June quarter, compared to 61% last year.