As benchmark indices tumble, these three stocks hit a fresh 52-week high

On Monday afternoon, over 40 stocks advanced to 52-week highs. The benchmark indices, NIFTY50, traded at 24,043, up 2.81%, SENSEX at 78,660 level, down 2.87%, and the Nifty Bank at 49,942.15, down 2.74%, while the fear gauge India VIX spiked to 21.98 levels.

The broad market indices traded red, with Nifty Midcap 100 down 3.78% and Nifty Smallcap 100 down 4.45%. The major sectoral indices traded red with Nifty’s Auto, IT, Media, Metal, PSU Bank and Realty bleeding above 4%.

Top three stocks that hit a fresh 52-week high on Friday, August 5, 2024

Sun Pharma Ltd

The pharma giant’s stock price traded to a 52-week high at ₹1,758 after surging over 1.52% on Friday’s session.

The stock price seems to have gained momentum in the last one month with a return of over 12%. However, recently released Q1FY25 earnings have spurred the investors' interest with the company posting revenue growth of 6% YoY to ₹12,653 crore and net profit growth of 44% YoY to ₹2,861 crore. This was supported by higher other income of ₹533 crore and lower interest cost at ₹62 crore.

The key takeaways from Q1FY25’s result were - Global speciality sales grew 15% on a YoY basis, EBITDA at ₹3,608 crore (including other operating revenues), up 8.3%. EBITDA margin for Q1FY25 at 28.5% against 27.9% last year in the same period due to lower other expenses.

As per the company statement, it is ranked no. 1 with a market share of 8.6% in the Indian pharmaceutical market as per AIOCD AWACS MAT June 2024 report. For Q1FY25, the company launched 6 new products in the Indian market.

Once the investors' darling, the stock has surged over 20% in the last six months and 51% in the last 12 months with its market cap crossing ₹4.20 lakh crore mark.

Arrow Greentech Ltd

The leading green packing technology company’s scrip skyrocketed 20% on Monday, peaking at a 52-week high at ₹943.30. In the early deals on NSE till 10.30 a.m., the stock witnessed over 13.60 lakh trade volume with a traded value of ₹123.72 crore, taking the company's market capitalisation to ₹1,423 crore.

The stock has witnessed a sharp upward move as the company reported a 122% YoY rise in the bottom line and 50% YoY in the topline for the June quarter, The stellar Q1FY25 results attracted investors' attention towards this water-soluble film manufacturer.

In the Q1FY25, the Net profit rose 122% to ₹20.15 crore as against ₹9.34 crore during the same quarter last year. Sales rose 50% to ₹66.11 crore against ₹43.86 crore during the same last year.

Since 1992, Arrow Greentech Limited has been dedicated to innovation for a sustainable future with a focus on environmental care. Known for introducing the first water-soluble film, the company specialises in providing high-quality solutions for industries such as health, hygiene, packaging, printing, and security.

TTK Prestige Ltd

The leading kitchen appliances company’s stock climbed to a 52-week high at ₹1,021, soaring over 4.2% in Friday's morning session.

The company’s announcement of a buyback of up to ₹200 crore seems to have cheered investors. As per the exchange filing, the buyback is proposed for up to 1.2% of total paid-up equity shares at a price of ₹1,200.

Further, the company has informed that August 14, 2024, is the record date for the proposed buyback. In the recent quarter earnings, the company reported flat revenue at ₹588 crore and a decline in net profit over 13% to ₹41 crore in Q1FY25 on a YoY basis. The drop in net profit was on account of a fall in operating margins.