Bajaj Healthcare, Vardhman Polytex, Radico Khaitan shares hit 52-week high: Here’s why

As many as 80 securities hit their 52-week highs on the National Stock Exchange of India (NSE) on Wednesday, December 18, as broader markets traded in the red for the third straight day.

As of 11:35 am, the NIFTY 50 index was trading at 24,261.1, down 74.9 points, or 0.31%. The BSE SENSEX, meanwhile, dropped 292.29 points, or 0.37%, to trade at 80,389.16.

The volatility index, India VIX, was up 0.21% to 14.52. Among sectoral indices, the NIFTY IT and NIFTY Pharma were the only gainers, with all other indices trading in the red.

Here’s a look at three major stocks that touched their 52-week highs on Wednesday, December 18.

Bajaj Healthcare Ltd (52-week high: ₹563.10)

The recent rally in the Bajaj Healthcare shares have come after the company last week announced that it has entered into a definitive contract development and manufacturing organisation (CDMO) contract with UK/EU-based companies for 15 new active pharmaceutical ingredients (APIs). The new CDMO pipeline has a mix of off Patent Generic APIs as well as APIs which are still under patent.

Vardhman Polytex Ltd (52-week high: ₹13.74)

Vardhman is India’s largest vertically integrated textile manufacturer with multiple production facilities across India. Shares of the company are rising amid a broader rally in textile stocks. Analysts believe that India’s textile sector may see a rebound after years of stagnation. Exports from the sector have started to grow better than the overall export market as international retailers are looking for alternatives to Bangladesh due to the economic instability in the region.

Radico Khaitan Ltd (52-week high: ₹2,533.45)

The company was in the news last week after sales of its flagship After Dark whisky exceeded one million cases as of November 2024. After Dark now becomes the eighth brand in the company’s “million bottles sold club”, joining the ranks of successful brands in the company’s portfolio like Magic Moments Vodka, 8 PM Whisky, Spirit of Victory 1965 Rum and Morpheus Brandy.