Anup Engineering, Healthcare Global Enterprise (HCG) and Dr Lal Path Labs hit 52-week highs: Here’s why

On Tuesday, merely 22 stocks advanced to 52-week highs. The benchmark indices, NIFTY50, traded at 24,939, up 0.58%, and SENSEX was at 81,466, up 0.51%. Nifty Bank traded at 50,990, up over 1%. The fear gauge, India VIX, fell to 14.82.

The broader market indices traded in a positive terrain, with the Nifty Midcap 100 index up 1.54% and the Nifty Smallcap 100 index up 1.35%. The sectoral indices followed the trend, with Nifty Media up 3%, being the top gainer, while Nifty Metal was down by 0.76%, and was the top loser.

Top three stocks that hit a fresh 52-week high on Tuesday, October 8, 2024

The Anup Engineering Ltd

The heat exchanger maker’s scrip clinched a 52-week high at ₹2,863 after over 4.37% on Tuesday.

The small-cap stock has in the last month delivered a return of 25%. The company is engaged in manufacturing heat exchangers, reactors, pressure vessels, columns & towers, industrial centrifuges and formed components, which cater to refineries, petrochemical, fertilizer, and power generation plants. Anup has an established presence in the market with its niche Helical Baffle heat exchanger known as 'Helixchanger' under license from Lummus Technology LLC, USA.

A recent upward trend in the stock would be attributable to the company’s recent pact with Graham Corporation, a US-based critical equipment firm.

The company has entered into a strategic manufacturing and supply agreement with Graham Corporation. The partnership is aimed to enable Anup Engineering to produce and supply essential equipment for Graham's global projects.

Anup Engineering is making continued investments in sectors like gas, hydrogen, and fertilizers, despite lower domestic traction. The company has also leaped and expanded its green hydrogen business.

As of June 30, 2024, the company's order book stood at ₹810 crore of which 57% related to export orders. In Q1FY25 updates the company has informed about the commencement of its new manufacturing facility at Kheda, Ahmedabad, which is expected to offer growth in revenue and profitability.

Anup Engineering's share price has gained a 176% return in the last 12 months. The company has a total market capitalisation stood at ₹5,571 crore.

Healthcare Global Enterprise (HCG) Ltd

One of the country’s leading cancer care provider’s stock price surged 4.6% on Tuesday, hitting a 52-week high at ₹451.6.

The stock price has climbed over 7% in the last five trading sessions after the company completed the acquisition of Vizag Hospital.

According to management, Vizag Hospital, owns and operates a comprehensive cancer care hospital in the city of Visakhapatnam, Andhra Pradesh, with a well-built hospital infrastructure, having 196 operational beds facility, led by Dr Murali Krishna Voonna, a renowned onco-surgeon.

The company anticipated that this acquisition would help it to secure leadership in a highly attractive micro-market, enhance operational and clinical synergies, unlock capacities, and strengthen the company's market positioning.

HCG headquartered in Bangalore, is India's largest cancer care provider. It operates a network of 21 cancer centres, 4 multispecialty centres, and 8 daycare centres across the country, all driven by a physician-led initiative.

The company’s current market cap stands at ₹6,264 crore with its shares trading at an adjusted price-to-earnings multiple of 124.31 times.

Dr Lal Path Labs Ltd

India’s leading diagnostic chain’s stock hit a 52-week high of ₹3,575.85, sky-rocketing 3.35% during Tuesday's morning session, with its market cap reaching ₹29,884 crore.

The stock has witnessed a significant surge in buying interest with the stock price up 7% in the last 5 sessions.

The investor remains optimistic on stock with the diagnostics market in India expected to grow due to longer life expectancies and a shift from unorganized to organised sectors.

Additionally, the company is focused on expanding into Tier-3 and Tier-4 towns with the establishment of 20 new labs to enhance its geographical presence. Patients in smaller towns are increasingly embracing quality diagnostics, with a growing trend towards higher-order tests.

Dr Lal Pathlab is a leading provider of diagnostic and healthcare services in India. The company operates a vast network across the country, offering a wide range of tests for patient diagnosis, disease prevention, monitoring, and treatment. They cater to individual patients, hospitals, healthcare providers, and corporate clients.

Year-to-date, the stock has risen over 38% in 2024.