Coforge, Deepak Fertilizers & Petrochemicals and The Anup Engineering surge to 52-week highs

On Monday, 19 stocks advanced to 52-week highs. The benchmark indices, NIFTY50, traded above the 24,400 level, up 1%, and SENSEX was at 80,307, up 1.13%. The Nifty Bank was trading at 51,520, up 1.45%, while the fear gauge, India VIX, retreated from higher levels.

The broader market indices were in positive territory, with the Nifty Midcap 100 up 0.55% and the Nifty Smallcap 100 up 0.37%. The sectoral indices traded mixed, with Nifty PSU Bank up 2.69%, making it the top gainer. Meanwhile, Nifty Energy was the top loser, falling by 0.30%.

Three stocks which hit fresh 52-week highs on Monday, October 28, 2024

Deepak Fertilizers & Petrochemicals Corp Ltd

The company operates in fertilizers, agri-services, bulk chemicals, mining chemicals, and real estate.

On Monday, the stock rose by 3.98% from its previous close, reaching a 52-week high of ₹1,178.85. As of 10:26 a.m., it was trading at ₹1,154.50, up by 1.83%.

The company will announce its Q2FY25 results on October 29, 2024 (Tuesday). The industrial chemicals segment is expected to stabilise and improve gradually, supported by robust demand and stable raw material pricing after headwinds in FY24. Over the medium term, operating margins are expected to range between 18-20%.

In Q1 FY25, the company reported revenue of ₹2,281 crore, down from ₹2,313 crore in Q1 FY24, reflecting a YoY decline of 1.37%. PAT for Q1 FY25 was ₹200 crore, up from ₹114 crore in Q1 FY24.

In the past month, the company has outperformed the market, delivering a return of 7.93%. Its current market capitalisation is ₹14,432 crore.

The Anup Engineering Ltd

The company manufactures heat exchangers, reactors, pressure vessels, columns and towers, industrial centrifuges and formed components.

On Monday, the stock rose by 10.02% from its previous close, reaching a 52-week high of ₹3,017.90. As of 10:29 a.m., it was trading at ₹2,926.60, up by 6.69%.

This price surge is attributed to a strong quarterly performance. The company’s operating profit margin is currently 23%, although it was 27% in 2019. The cash conversion cycle has improved from 284 days in FY22 to 215 days in FY24. The company's ROCE stands at 23%.

In Q2 FY25, the company reported revenue of ₹188 crore, up from ₹140 crore in Q2 FY24, reflecting a YoY growth of 34.34%. PAT for Q2 FY25 was ₹32 crore, up from ₹22 crore in Q2 FY24.

In the past month, the company has outperformed the market, delivering a return of 29.36%. Its current market capitalisation is ₹5,875 crore.

Coforge Ltd

The company provides end-to-end software solutions and services to major global clients and is among the top 20 Indian software exporters.

On Monday, the stock rose by 0.63% from its previous close, reaching a 52-week high of ₹7,789. As of 10:32 a.m., it was trading at ₹7,698.10, down by 0.54%.

This price movement is due to a strong quarterly performance, with an order book of $516 million, up 42% from the June quarter and 43% from the previous year. The company’s organic EBIT margin was 12.2% for the quarter, down from 13.6% in the June quarter. Market participants are expecting a strong FY25 from the company.

In Q2 FY25, the company reported revenue of ₹3,062 crore, up from ₹2,276 crore in Q2 FY24, reflecting a YoY growth of 34.54%. PAT for Q2 FY25 was ₹234 crore (including other income of ₹56 crore), up from ₹188 crore in Q2 FY24.

In the past month, the company has outperformed the market, delivering a return of 9.72%. Its current market capitalization is ₹51,348 crore.