Apollo Hospitals, Eclerx, and Kaynes Tech hit a 52-week high, here’s why

On Thursday, 73 stocks reached 52-week highs even as frontline indices traded in the red. The NIFTY50 declined by 0.51%, trading at 24,358, while the SENSEX dropped by 0.46% to 80,010. The Nifty Bank also dipped, reaching 52,100, down 0.41%. India's volatility index, the India VIX, increased by 0.34% to hover near the 15-mark.

Broader market indices remained in positive territory, with the Nifty Midcap 100 up 0.33% and the Nifty Smallcap 100 rising by 0.08%. Sectoral indices showed mixed performance: Nifty Media led the gains with a 0.83% rise, while Nifty Metal led the declines, falling around 1.37%.

Here’s a look at three stocks that reached 52-week highs on Thursday, November 7, 2024:

Apollo Hospitals Enterprise Ltd

This integrated healthcare services provider has a robust presence across the healthcare ecosystem, including hospitals, pharmacies, primary care, diagnostic clinics, and several retail health models.

The stock surged 7% from the previous close, reaching a 52-week high of ₹7,483.90.

The share price movement was driven by strong Q2 results for FY25. The company’s occupancy rate rose to 73% from 68%, and EBITDA saw a 30% YoY growth. Key segments of the company grew in the mid-teens YoY.

Revenue rose to ₹5,589 crore from ₹4,847 crore in Q2 FY24, marking a 15.32% YoY increase, while PAT grew to ₹396 crore from ₹249 crore.

Over the past month, the stock delivered a 9.05% market return, with a current market capitalisation of ₹1,06,717 crore.

Eclerx

The company's strong quarterly results included an EPS increase to ₹29.66, up from ₹28.20 in Q2 FY24, although profit margins contracted by about 2% YoY due to higher expenses. The company’s performance exceeded estimates.

Revenue for Q2 FY25 grew to ₹832 crore from ₹722 crore in Q2 FY24, a 15.25% YoY increase, while PAT rose to ₹140 crore from ₹136 crore.

Over the past month, the stock has gained 11.56%, outperforming the Nifty IT index by a wide margin.

Kaynes Technology India Ltd

The stock's performance is likely influenced by anticipation of tougher tariffs on China in light of trade conflicts, following the outcome of the US presidential race.

In Q2 FY25, revenue rose to ₹433 crore from ₹292 crore in Q2 FY24, marking a 48.46% YoY increase, while PAT grew to ₹63 crore from ₹25 crore.

Over the past month, the stock delivered a 17.75% market return, with a current market capitalisation of ₹36,875 crore.