Crisil, Persistent Systems, Nalco hit a 52-week high today; here’s why

As many as 48 securities hit their 52-week high on the National Stock Exchange of India (NSE) on Friday, November 22, amid recovery in the broader market after the volatility in the previous session.

As of 11:22 am, the NIFTY 50 index was trading higher by 0.7%, or 164.40 points, at 23,514. Meanwhile, the BSE SENSEX was up 493.73 points, or 0.64%, to 77,649.52. The volatility index, known as INDIA VIX, was down 2.17% to 15.64.

All the sectoral indices closed in the green except for the NIFTY Media. NIFTY IT was the biggest gainer, closing 3.2% higher, followed by NIFTY Realty that was up 3.1%.

Crisil Ltd (52-week high: ₹5,685)

Its net profit climbed almost 13% to ₹171.55 crore during the September quarter compared to a year ago. Consolidated total income climbed almost 8% year-on-year to ₹833.2 crore during the period.

The recent share price rally was also triggered by the company’s dividend announcement. Crisil’s board had approved the payment of a third interim dividend of ₹15 per equity share of face value of ₹1 each for the financial year ended December 2024. The dividend was paid on November 13, 2024.

Persistent Systems Ltd (52-week high: ₹5,868.75)

Shares of mid-tier IT firm Persistent Systems Ltd rose as much as 2.5% on Friday to hit a 52-week high of ₹5,868.75 after announcing results for the quarter ended September 2024 on Thursday. The stock closed 1.16% higher at ₹5,792 per share.

The company reported an 18th sequential quarter of revenue growth. Net profit grew 6.1% to ₹325 crore compared with the previous quarter, while revenue rose 5.8% to ₹2,897.15 crore. In dollar terms, revenue was up 5.3% quarter-on-quarter to $345.5 million.

National Aluminium Co. Ltd (52-week high: ₹259.50)

Shares of state-run National Aluminium Co. Ltd (Nalco) gained as much as 4% on Friday to hit the year’s high level of ₹259.5. The stock has jumped almost 15% in the past four sessions after China announced the cancellation of export tax rebates on aluminium and copper products, effective December 1, 2024. This will lead to a tightening of the global aluminium supply, turning into a huge positive for Indian aluminium producers such as Nalco. Aluminium prices on the London Metal Exchange (LME) have also surged sharply following the development.

Other stocks that hit 52-week highs: Among other companies that hit their 52-week highs on Friday include Mastek Ltd, The Federal Bank Ltd, Coromandel International Ltd, Aaron Industries Ltd, Dhani Services Ltd, Nagreeka Capital and Infrastructure Ltd, Banco Products (I) Ltd, Arvind SmartSpaces Ltd, Black Box Ltd, Coforge Ltd, Dynamic Cables Ltd, Kiri Industries Ltd, Kitex Garments Ltd, Ratnaveer Precision Engineering Ltd and TD Power Systems Ltd.