Bikaji Foods International, Kfin Technologies and Triveni Turbine clinch fresh 52-week high; here’s why

On Friday, over 77 stocks advanced to 52-week highs. The benchmark indices, NIFTY50, traded at 24,346, up 0.95%, and SENSEX at 79,684, up 1%. Nifty Bank is trading at 50,520, up 0.73%, while the fear gauge India VIX fell to 15.62.

The broader market indices traded in the green, with Nifty Midcap 100 up 0.95% and Nifty Smallcap 100 up 0.88%. All the sectoral indices traded in the green with Nifty IT and Realty being top gainers.

Top three stocks that hit a fresh 52-week high on Friday, August 9, 2024

Bikaji Foods International Ltd

The ethnic snack maker’s scrip scaled a fresh 52-week high at ₹879.20 climbing 9% in Friday's session.

The stock witnessed buying interest, as it has rallied over 24% in the last 5 sessions. The Investor seems to have reacted late to the Q1FY25 earnings which demonstrated strong growth, financial resilience and development aspiration.

In Q1FY25, its revenue from operation grew 18.7% YoY to ₹5,72 crore with volume growth of 16.2 % YoY. EBITDA increased 39.2% YoY to ₹92 crore with a margin of 16%, and Profit After Tax (PAT) soared 40.2% YoY to ₹58 crore.

Segment wise,

• Ethnic Snacks: Revenue grew by 16% YoY; constitutes 75.3% of overall revenue
• Packaged Sweets: Revenue was up by 12.3% YoY; constitutes 7.9% of overall revenue
• Western Snacks: Revenue soared by 26% YoY; constitutes 9.8% of overall revenue
• Papad: Revenue grew by 14% YoY; constitutes 6.1% of overall revenue

The company increased its direct coverage by 20.7k outlets in Q1, on track to reach 3.5 lakh outlets by FY25.

Bikaji has an edge over its peers in terms of wide product lines and strong brand presence. Bikaji Foods is active in 25 Indian states and 4 union territories as of March 31, 2024. In addition, it also sells goods to 25 nations in the Asia-Pacific area, Europe, the Middle East, Africa, and North America.

Kfin Technologies Ltd

The capital market service platform’s stock soared 14% on Friday, peaking at a 52-week high at ₹1033.8. The stock price of the company has soared over 20% in the last 5 sessions and over 45% in the last 12 months.

On NSE till 9.45 a.m., today the stock's volume traded surged to 37.11 lakh shares with a trade value of ₹372.09 crore, indicating strong buying interest in the stock.

In last week’s earning report for Q1FY25 the company posted a strong start of the year with revenue growth of ₹238 crore, up 30.9% YoY% while Profit after Tax (PAT) at ₹68 crore, up 58% YoY. EBITDA stood at ₹100, up 43% YoY with an EBITDA margin of 42%.

Further on the business front, international and other investor solutions revenue surged by 56.6% YoY and VAS revenue was up by 49.6%YoY.

The management said the company gained significant traction in new contract sign-ups in the fast-growing business lines of global fund services (international), alternatives and wealth solutions, fund administration solutions, and technology solutions.

The company is the only investor and issuer solutions provider in India that offers services to asset managers such as mutual funds, alternative investment funds, wealth managers and pension as well as corporate issuers and is one of the three operating central record-keeping agencies for the National Pension System in India. Further, with the Union Budget 2024 encouraging higher participation in new pension schemes, the budget may bring more business to the company.

Triveni Turbine Ltd

Turbine manufacturer’s share climbed to a 52-week high at ₹724.6, gaining over 5.30% in Friday’s morning session.

The stock has been witnessing upward moves since it announced quarterly earnings on August 5th with stock price rising over 18%. Triveni Turbines has reported a remarkable Q1FY25 not only in terms of key financial metrics but also in order booking. The quarterly results remained the highest-ever quarterly revenue, EBITDA and order book providing good visibility for FY25.

In Q1FY25, the company reported a revenue of ₹482.67 crore, up 23.83% YoY and net profit stood at ₹80.40 crore up 31% YoY.

During the quarter, the company won prestigious international orders. As a result, order booking for the quarter grew 40% YoY to ₹636 crore with exports contributing to 66% of overall order booking.