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  5. Anant Raj, Caplin Point Laboratories, Donear Industries shares hit 52-week high: Here’s why

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Anant Raj, Caplin Point Laboratories, Donear Industries shares hit 52-week high: Here’s why

Upstox
By Upstox News Desk

3 min read | Updated on December 17, 2024, 12:33 IST

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SUMMARY

Shares of pharma company Caplin Point Laboratories Ltd gained as much as 4.9% on Tuesday to hit a fresh 52-week high of ₹2,539.85 apiece on the NSE. Shares of textile company Donear Industries Ltd skyrocketed as much as 14.9% to hit their 52-week high of ₹184.99 apiece on Tuesday amid hopes of the revival in the export demand for the textile sector.

Stock list

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52 Week High (2) (1).webp

Anant Raj, Caplin Point Laboratories, Donear Industries shares hit 52-week high: Here’s why

As many as 97 securities hit their 52-week high on the National Stock Exchange of India (NSE) on Tuesday, December 17, as the broader markets traded in the negative.

Benchmark NIFTY 50 index was trading at 24,397.3, down 270.95 points, or 1.1%, at 11:47 am. The BSE SENSEX, meanwhile, dropped 923.7 points, or 1.13%, to 80,824.87.

The volatility index, India VIX, rose 6.21% to 14.91. All the sectoral indices were trading in the red except the NIFTY Realty and the NIFTY Media.

Here’s a look at three major stocks that touched their 52-week highs on Tuesday, December 17, 2024.

Anant Raj Ltd (52-week high: ₹841)

Marking its fourth consecutive session of gains, shares of real estate player Anant Raj Ltd soared as much as 6.8% to hit their 52-week high of ₹841 apiece on the NSE on Tuesday. The stock has rallied 29% in the past one month and over 184% in the past one year.

Anant Raj was in the news after the company approved the allotment of 1.37 million convertible warrants worth ₹100 crore to its promoter Shri Ashok Sarin Anant Raj LLP. The convertible warrants have an issue price of ₹730 apiece. Each warrant will be convertible into one equity share. The board of directors also approved fund-raising of up to ₹2,000 crore by way of qualified institutional placement (QIP).

Caplin Point Laboratories Ltd (52-week high: ₹2,539.85)

Shares of pharma company Caplin Point Laboratories Ltd gained as much as 4.9% on Tuesday to hit a fresh 52-week high of ₹2,539.85 apiece on the NSE. The stock has rallied almost 26% in the past one month and 93% in the past one year.

Caplin Point Laboratories announced that its subsidiary Caplin Steriles Ltd has received final approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) Difluprednate Ophthalmic Emulsion. The approved drug is a generic therapeutic equivalent version of the reference listed drug Durezol from Sandoz Inc. It is a topical corticosteroid that is indicated in the treatment of inflammation and pain associated with ocular surgery and in the treatment of endogenous anterior uveitis.

Donear Industries Ltd (52-week high: ₹184.99)

Shares of textile company Donear Industries Ltd skyrocketed as much as 14.9% to hit their 52-week high of ₹184.99 apiece on Tuesday amid hopes of the revival in the export demand for the textile sector. The stock has seen a massive turnaround this month, surging almost 70% during this period.

Analysts believe that the textile sector may now see some upward momentum after years of stagnation. Exports from the sector have started to grow better than the overall export market as international retailers are now looking for alternatives to Bangladesh due to the economic instability in the region.

Other stocks that hit 52-week high: Coromandel International Ltd, Orient Technologies Ltd, Zen Technologies Ltd, Blue Coast Hotels Ltd, Vimta Labs Ltd, 3P Land Holdings Ltd, Chaman Lal Setia Exports Ltd, Kalyani Steels Ltd, Healthcare Global Enterprises Ltd, DMCC Speciality Chemicals Ltd, Linc Ltd, NK Industries Ltd, Websol Energy System Ltd, Marine Electricals (India) Ltd, Rudrabhishek Enterprises Ltd, ICDS Ltd, Allied Blenders and Distillers Ltd and Enviro Infra Engineers Ltd.

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